National Asset Management Inc. Raises Position in Schlumberger N.V. (SLB)
National Asset Management Inc. lifted its stake in Schlumberger N.V. (NYSE:SLB) by 5.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,597 shares of the oil and gas company’s stock after purchasing an additional 441 shares during the period. National Asset Management Inc.’s holdings in Schlumberger N.V. were worth $673,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Investment Centers of America Inc. increased its holdings in shares of Schlumberger N.V. by 6.7% in the first quarter. Investment Centers of America Inc. now owns 15,047 shares of the oil and gas company’s stock valued at $1,178,000 after purchasing an additional 941 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of Schlumberger N.V. in the first quarter valued at approximately $4,088,000. Cypress Capital Group increased its holdings in shares of Schlumberger N.V. by 2.0% in the first quarter. Cypress Capital Group now owns 24,390 shares of the oil and gas company’s stock valued at $1,905,000 after purchasing an additional 472 shares in the last quarter. Kidder Stephen W increased its holdings in shares of Schlumberger N.V. by 6.1% in the first quarter. Kidder Stephen W now owns 47,198 shares of the oil and gas company’s stock valued at $3,686,000 after purchasing an additional 2,732 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Schlumberger N.V. by 1.5% in the first quarter. Signaturefd LLC now owns 6,471 shares of the oil and gas company’s stock valued at $505,000 after purchasing an additional 95 shares in the last quarter. 78.99% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently weighed in on SLB shares. Jefferies Group LLC reissued a “buy” rating and issued a $92.00 price target on shares of Schlumberger N.V. in a report on Friday, June 30th. BMO Capital Markets reissued a “buy” rating and issued a $89.00 price target on shares of Schlumberger N.V. in a report on Thursday, June 22nd. UBS AG set a $90.00 price target on shares of Schlumberger N.V. and gave the company a “buy” rating in a report on Friday, June 16th. Scotiabank set a $90.00 price target on shares of Schlumberger N.V. and gave the company a “buy” rating in a report on Friday, July 7th. Finally, Credit Suisse Group set a $78.00 price target on shares of Schlumberger N.V. and gave the company a “buy” rating in a report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $86.21.
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Schlumberger N.V. (NYSE SLB) traded down 1.53% during midday trading on Friday, reaching $64.86. 5,486,979 shares of the company traded hands. The stock has a market capitalization of $89.80 billion, a P/E ratio of 510.71 and a beta of 1.03. The company has a 50 day moving average of $65.26 and a 200-day moving average of $71.13. Schlumberger N.V. has a 12-month low of $62.56 and a 12-month high of $87.84.
Schlumberger N.V. (NYSE:SLB) last posted 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. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The business 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 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Equities analysts anticipate that Schlumberger N.V. will post $1.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Wednesday, September 6th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, September 1st. Schlumberger N.V.’s dividend payout ratio (DPR) is 1,538.58%.
In other Schlumberger N.V. news, Director Michael E. Marks acquired 8,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $64.20 per share, with a total value of $513,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Aaron Gatt Floridia sold 40,000 shares of the firm’s stock in a transaction 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 transaction, the president now directly owns 96,175 shares in the company, valued at $6,652,424.75. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company 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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