Schlumberger N.V. (SLB) Position Cut by ING Groep NV
ING Groep NV reduced its position in Schlumberger N.V. (NYSE:SLB) by 57.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 68,929 shares of the oil and gas company’s stock after selling 91,460 shares during the period. ING Groep NV’s holdings in Schlumberger N.V. were worth $4,538,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Bray Capital Advisors lifted its position in Schlumberger N.V. by 1.5% during the second quarter. Bray Capital Advisors now owns 40,525 shares of the oil and gas company’s stock worth $2,668,000 after acquiring an additional 612 shares during the last quarter. CMH Wealth Management LLC acquired a new stake in Schlumberger N.V. during the second quarter worth approximately $1,071,000. Acadian Asset Management LLC lifted its position in Schlumberger N.V. by 2,491.0% during the second quarter. Acadian Asset Management LLC now owns 76,019 shares of the oil and gas company’s stock worth $5,005,000 after acquiring an additional 73,085 shares during the last quarter. Lodestar Investment Counsel LLC IL lifted its position in Schlumberger N.V. by 4.1% during the second quarter. Lodestar Investment Counsel LLC IL now owns 223,088 shares of the oil and gas company’s stock worth $14,688,000 after acquiring an additional 8,755 shares during the last quarter. Finally, SPC Financial Inc. acquired a new stake in Schlumberger N.V. during the second quarter worth approximately $283,000. Institutional investors and hedge funds own 78.99% of the company’s stock.
In other Schlumberger N.V. news, Director Michael E. Marks bought 8,000 shares of Schlumberger N.V. stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $64.20 per share, with a total value of $513,600.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Helge Lund bought 2,800 shares of Schlumberger N.V. stock in a transaction that occurred on Monday, July 24th. The shares were acquired at an average cost of $66.78 per share, for a total transaction of $186,984.00. The disclosure for this purchase can be found here. 0.38% of the stock is currently owned by company insiders.
Several equities research analysts have issued reports on the stock. UBS AG set a $90.00 price objective on shares of Schlumberger N.V. and gave the stock a “buy” rating in a research report on Friday, June 16th. Sanford C. Bernstein restated an “outperform” rating and set a $80.00 price objective on shares of Schlumberger N.V. in a research report on Wednesday, September 6th. Seaport Global Securities restated a “buy” rating on shares of Schlumberger N.V. in a research report on Friday, July 21st. J P Morgan Chase & Co cut their price objective on shares of Schlumberger N.V. from $79.00 to $76.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, BMO Capital Markets restated a “buy” rating and set a $74.00 price objective on shares of Schlumberger N.V. in a research report on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Schlumberger N.V. currently has an average rating of “Buy” and an average target price of $85.80.
Shares of Schlumberger N.V. (NYSE SLB) traded up 1.042% during trading on Tuesday, hitting $66.455. 2,800,372 shares of the stock were exchanged. The firm has a market capitalization of $92.01 billion, a price-to-earnings ratio of 523.268 and a beta of 1.03. Schlumberger N.V. has a 52 week low of $62.56 and a 52 week high of $87.84. The stock’s 50 day moving average price is $65.22 and its 200 day moving average price is $70.93.
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 the Zacks’ consensus estimate of $0.30 by $0.05. The firm had revenue of $7.46 billion for the quarter, compared to analyst estimates of $7.25 billion. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 EPS. On average, equities analysts predict that Schlumberger N.V. will post $1.51 earnings per share for the current year.
The firm 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 dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, September 1st. Schlumberger N.V.’s dividend payout ratio is currently 1,538.58%.
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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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