Whittier Trust Co. Has $2.98 Million Stake in Schlumberger N.V. (NYSE:SLB)
Whittier Trust Co. cut its stake in Schlumberger N.V. (NYSE:SLB) by 11.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,311 shares of the oil and gas company’s stock after selling 5,664 shares during the period. Whittier Trust Co.’s holdings in Schlumberger N.V. were worth $2,983,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in SLB. Bridge Creek Capital Management LLC raised its position in Schlumberger N.V. by 27.3% in the second quarter. Bridge Creek Capital Management LLC now owns 38,465 shares of the oil and gas company’s stock valued at $2,533,000 after buying an additional 8,245 shares in the last quarter. Gradient Investments LLC raised its position in Schlumberger N.V. by 15.0% in the second quarter. Gradient Investments LLC now owns 95,630 shares of the oil and gas company’s stock valued at $6,296,000 after buying an additional 12,448 shares in the last quarter. Viking Fund Management LLC raised its position in Schlumberger N.V. by 126.8% in the second quarter. Viking Fund Management LLC now owns 127,000 shares of the oil and gas company’s stock valued at $8,362,000 after buying an additional 71,000 shares in the last quarter. Reilly Financial Advisors LLC raised its position in Schlumberger N.V. by 4.4% in the second quarter. Reilly Financial Advisors LLC now owns 135,098 shares of the oil and gas company’s stock valued at $8,895,000 after buying an additional 5,677 shares in the last quarter. Finally, Longer Investments Inc. purchased a new position in Schlumberger N.V. during the second quarter valued at about $2,023,000. 79.14% of the stock is currently owned by institutional investors and hedge funds.
Schlumberger N.V. (NYSE SLB) traded down 0.40% during mid-day trading on Wednesday, hitting $65.23. 2,931,923 shares of the stock were exchanged. Schlumberger N.V. has a one year low of $64.15 and a one year high of $87.84. The company has a 50-day moving average price of $66.69 and a 200-day moving average price of $74.44. The company has a market cap of $90.31 billion, a P/E ratio of 513.62 and a beta of 1.02.
Schlumberger N.V. (NYSE:SLB) last issued its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The business had revenue of $7.46 billion during the quarter, compared to the consensus estimate of $7.25 billion. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 earnings per share. Analysts forecast that Schlumberger N.V. will post $1.51 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Wednesday, September 6th will be issued a $0.50 dividend. The ex-dividend date is Friday, September 1st. This represents a $2.00 dividend on an annualized basis and a yield of 3.05%. Schlumberger N.V.’s payout ratio is 1,538.58%.
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Several equities analysts have issued reports on the stock. BidaskClub lowered shares of Schlumberger N.V. from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research lowered shares of Schlumberger N.V. from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Loop Capital lowered their price objective on shares of Schlumberger N.V. from $93.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, July 25th. Seaport Global Securities reiterated a “buy” rating on shares of Schlumberger N.V. in a research note on Friday, July 21st. Finally, Instinet reiterated a “buy” rating and set a $78.00 price objective (down from $85.00) on shares of Schlumberger N.V. in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. Schlumberger N.V. currently has an average rating of “Buy” and a consensus price target of $86.40.
In related news, Director Helge Lund bought 2,800 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average cost of $66.78 per share, for a total transaction of $186,984.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Aaron Gatt Floridia sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $69.17, for a total transaction of $2,766,800.00. Following the completion of the sale, the president now owns 96,175 shares of the company’s stock, valued at $6,652,424.75. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.
About Schlumberger N.V.
Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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