First Foundation Advisors Sells 606 Shares of Schlumberger N.V. (SLB)
First Foundation Advisors cut its stake in shares of Schlumberger N.V. (NYSE:SLB) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,058 shares of the oil and gas company’s stock after selling 606 shares during the period. First Foundation Advisors’ holdings in Schlumberger N.V. were worth $864,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in SLB. Karp Capital Management Corp bought a new stake in Schlumberger N.V. during the first quarter valued at $47,391,000. Investment Partners Ltd. OH ADV raised its stake in Schlumberger N.V. by 13.2% in the first quarter. Investment Partners Ltd. OH ADV now owns 5,181 shares of the oil and gas company’s stock valued at $405,000 after buying an additional 605 shares in the last quarter. Haverford Trust Co. raised its stake in Schlumberger N.V. by 2.1% in the first quarter. Haverford Trust Co. now owns 806,695 shares of the oil and gas company’s stock valued at $63,003,000 after buying an additional 16,304 shares in the last quarter. HGK Asset Management Inc. raised its stake in Schlumberger N.V. by 3.7% in the first quarter. HGK Asset Management Inc. now owns 5,535 shares of the oil and gas company’s stock valued at $432,000 after buying an additional 195 shares in the last quarter. Finally, Autus Asset Management LLC raised its stake in Schlumberger N.V. by 7.2% in the first quarter. Autus Asset Management LLC now owns 80,404 shares of the oil and gas company’s stock valued at $6,279,000 after buying an additional 5,378 shares in the last quarter. Institutional investors own 78.98% of the company’s stock.
Shares of Schlumberger N.V. (SLB) traded down 0.28% during trading on Wednesday, hitting $63.32. The stock had a trading volume of 862,428 shares. The company has a market capitalization of $87.67 billion, a P/E ratio of 498.58 and a beta of 1.02. Schlumberger N.V. has a 1-year low of $62.56 and a 1-year high of $87.84. The firm has a 50-day moving average of $65.77 and a 200 day moving average of $72.24.
Schlumberger N.V. (NYSE:SLB) last issued 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. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The company had revenue of $7.46 billion during the quarter, compared to analysts’ expectations of $7.25 billion. During the same period last year, the company posted $0.23 EPS. Schlumberger N.V.’s revenue was up 4.2% on a year-over-year basis. Equities research analysts predict that Schlumberger N.V. will post $1.51 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Wednesday, September 6th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, September 1st. This represents a $2.00 dividend on an annualized basis and a yield of 3.15%. Schlumberger N.V.’s dividend payout ratio (DPR) is currently 1,538.58%.
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Several research firms have recently weighed in on SLB. Jefferies Group LLC set a $80.00 price objective on Schlumberger N.V. and gave the company a “buy” rating in a research note on Friday, August 25th. Argus began coverage on Schlumberger N.V. in a research report on Monday, August 21st. They set a “buy” rating on the stock. BidaskClub lowered Schlumberger N.V. from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Zacks Investment Research lowered Schlumberger N.V. from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Loop Capital decreased their price target on Schlumberger N.V. from $93.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. Schlumberger N.V. has a consensus rating of “Buy” and an average target price of $86.21.
In other news, Director Michael E. Marks bought 8,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $64.20 per share, with a total value of $513,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tore I. Sandvold sold 5,000 shares of Schlumberger N.V. stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $69.82, for a total transaction of $349,100.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $349,100. The disclosure for this sale can be found here. 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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