Traders Buy Schlumberger NV (SLB) on Weakness on Insider Selling
Traders purchased shares of Schlumberger NV (NYSE:SLB) on weakness during trading on Thursday following insider selling activity. $100.66 million flowed into the stock on the tick-up and $56.67 million flowed out of the stock on the tick-down, for a money net flow of $43.99 million into the stock. Of all stocks tracked, Schlumberger NV had the 5th highest net in-flow for the day. Schlumberger NV traded down ($0.94) for the day and closed at $80.10Specifically, Director Michael E. Marks sold 13,600 shares of Schlumberger NV stock in a transaction on Monday, August 29th. The stock was sold at an average price of $81.19, for a total value of $1,104,184.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tore I. Sandvold sold 2,500 shares of Schlumberger NV stock in a transaction on Friday, September 30th. The shares were sold at an average price of $78.09, for a total value of $195,225.00. Following the completion of the transaction, the director now directly owns 17,750 shares of the company’s stock, valued at $1,386,097.50. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.
Several equities analysts have weighed in on the company. Jefferies Group raised Schlumberger NV from a “hold” rating to a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Schlumberger NV in a report on Friday, July 22nd. Simmons reissued an “overweight” rating and set a $97.00 price target (up previously from $84.00) on shares of Schlumberger NV in a report on Monday, July 25th. Guggenheim reissued a “buy” rating on shares of Schlumberger NV in a report on Thursday, November 10th. Finally, Citigroup Inc. reissued a “buy” rating on shares of Schlumberger NV in a report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $91.01.
The stock’s market capitalization is $111.30 billion. The firm’s 50-day moving average is $80.17 and its 200 day moving average is $78.71.
Schlumberger NV (NYSE:SLB) last issued its quarterly earnings results on Thursday, October 20th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03. Schlumberger NV had a positive return on equity of 5.06% and a negative net margin of 8.78%. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7.24 billion. During the same period in the previous year, the firm posted $0.78 EPS. The business’s revenue for the quarter was down 17.2% compared to the same quarter last year. On average, equities research analysts predict that Schlumberger NV will post $1.16 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Wednesday, December 7th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.50%. Schlumberger NV’s dividend payout ratio is currently -108.70%.
Several hedge funds have recently modified their holdings of the company. Halsey Associates Inc. CT boosted its stake in shares of Schlumberger NV by 3.5% in the first quarter. Halsey Associates Inc. CT now owns 12,171 shares of the company’s stock worth $898,000 after buying an additional 410 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of Schlumberger NV during the first quarter worth approximately $469,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Schlumberger NV during the first quarter worth approximately $2,745,000. Jones Financial Companies Lllp boosted its stake in shares of Schlumberger NV by 6.5% in the first quarter. Jones Financial Companies Lllp now owns 82,495 shares of the company’s stock worth $6,084,000 after buying an additional 5,060 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Schlumberger NV by 1.3% in the first quarter. LPL Financial LLC now owns 217,404 shares of the company’s stock worth $15,797,000 after buying an additional 2,850 shares in the last quarter. 79.04% of the stock is currently owned by hedge funds and other institutional investors.
About Schlumberger NV
Schlumberger N.V. is a supplier of technology, integrated project management and information solutions to the international oil and gas exploration and production industry. The Company operates in the oilfield service markets through three groups: Reservoir Characterization, Drilling and Production. Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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