Schlumberger N.V. (NYSE:SLB) Stake Cut by Advisors Asset Management Inc.
Advisors Asset Management Inc. reduced its position in Schlumberger N.V. (NYSE:SLB) by 21.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 221,940 shares of the oil and gas company’s stock after selling 62,253 shares during the period. Advisors Asset Management Inc.’s holdings in Schlumberger N.V. were worth $17,334,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. purchased a new stake in Schlumberger N.V. during the fourth quarter worth $101,000. American Research & Management Co. increased its stake in shares of Schlumberger N.V. by 8.5% in the first quarter. American Research & Management Co. now owns 1,356 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 106 shares during the last quarter. Rocky Mountain Advisers LLC increased its stake in shares of Schlumberger N.V. by 9,507.1% in the fourth quarter. Rocky Mountain Advisers LLC now owns 1,345 shares of the oil and gas company’s stock valued at $113,000 after buying an additional 1,331 shares during the last quarter. MCF Advisors LLC increased its stake in shares of Schlumberger N.V. by 130.3% in the first quarter. MCF Advisors LLC now owns 1,617 shares of the oil and gas company’s stock valued at $126,000 after buying an additional 915 shares during the last quarter. Finally, Advantage Investment Management LLC bought a new stake in shares of Schlumberger N.V. during the fourth quarter valued at $127,000. Institutional investors own 79.65% of the company’s stock.
Schlumberger N.V. (NYSE:SLB) traded up 0.46% during trading on Friday, reaching $63.32. The company’s stock had a trading volume of 9,096,305 shares. Schlumberger N.V. has a one year low of $62.93 and a one year high of $87.84. The stock has a 50-day moving average of $66.15 and a 200 day moving average of $72.93. The firm has a market capitalization of $87.67 billion, a P/E ratio of 498.58 and a beta of 1.02.
Schlumberger N.V. (NYSE:SLB) last posted its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The business had revenue of $7.46 billion during the quarter, compared to analyst estimates of $7.25 billion. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. On average, equities research analysts predict that Schlumberger N.V. will post $1.51 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Wednesday, September 6th will be given a $0.50 dividend. The ex-dividend date is Friday, September 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.16%. Schlumberger N.V.’s dividend payout ratio (DPR) is presently 1,538.58%.
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Several analysts have weighed in on SLB shares. Barclays PLC reiterated an “overweight” rating and issued a $107.00 price objective on shares of Schlumberger N.V. in a research report on Monday, April 24th. Deutsche Bank AG reduced their target price on Schlumberger N.V. from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, April 24th. Sanford C. Bernstein reissued a “hold” rating on shares of Schlumberger N.V. in a research note on Thursday, May 4th. Goldman Sachs Group, Inc. (The) reissued a “conviction-buy” rating and set a $95.00 target price on shares of Schlumberger N.V. in a research note on Monday, April 24th. Finally, Bank of America Corporation reduced their price target on Schlumberger N.V. from $70.00 to $69.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Schlumberger N.V. presently has a consensus rating of “Buy” and a consensus price target of $86.21.
In other news, Director Tore I. Sandvold sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $69.82, for a total value of $349,100.00. Following the completion of the sale, the director now directly owns 5,000 shares in the company, valued at $349,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter L. S. Currie purchased 3,625 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was bought at an average price of $69.02 per share, with a total value of $250,197.50. Following the completion of the transaction, the director now directly owns 31,550 shares of the company’s stock, valued at $2,177,581. The disclosure for this purchase can be found here. Insiders bought 14,425 shares of company stock valued at $950,782 over the last 90 days. Company insiders own 0.38% of the company’s stock.
Schlumberger N.V. Company Profile
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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