Traders Sell Shares of Schlumberger N.V. (SLB) on Strength After Analyst Downgrade
Investors sold shares of Schlumberger N.V. (NYSE:SLB) on strength during trading on Tuesday after J P Morgan Chase & Co lowered their price target on the stock from $79.00 to $76.00. $49.67 million flowed into the stock on the tick-up and $82.50 million flowed out of the stock on the tick-down, for a money net flow of $32.83 million out of the stock. Of all stocks tracked, Schlumberger N.V. had the 0th highest net out-flow for the day. Schlumberger N.V. traded up $0.66 for the day and closed at $66.43
Other analysts have also recently issued research reports about the stock. Jefferies Group LLC set a $80.00 price objective on shares of Schlumberger N.V. and gave the company a “buy” rating in a research note on Friday, August 25th. BidaskClub cut shares of Schlumberger N.V. from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Schlumberger N.V. in a research note on Monday, July 10th. Barclays PLC cut shares of Schlumberger N.V. from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $98.00 to $73.00 in a research note on Wednesday, June 21st. Finally, Sanford C. Bernstein raised shares of Schlumberger N.V. from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $94.00 to $80.00 in a research note on Thursday, July 6th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $85.80.
In other Schlumberger N.V. news, Director Helge Lund bought 2,800 shares of Schlumberger N.V. stock in a transaction on Monday, July 24th. The shares were bought at an average cost of $66.78 per share, for a total transaction of $186,984.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael E. Marks bought 8,000 shares of Schlumberger N.V. stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $64.20 per share, for a total transaction of $513,600.00. The disclosure for this purchase can be found here. 0.38% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Valley National Advisers Inc. lifted its holdings in Schlumberger N.V. by 0.3% during the 2nd quarter. Valley National Advisers Inc. now owns 2,594 shares of the oil and gas company’s stock worth $171,000 after buying an additional 8 shares in the last quarter. Wealth Architects LLC lifted its holdings in Schlumberger N.V. by 0.3% during the 1st quarter. Wealth Architects LLC now owns 4,003 shares of the oil and gas company’s stock worth $313,000 after buying an additional 13 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management lifted its holdings in Schlumberger N.V. by 0.5% during the 1st quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 3,720 shares of the oil and gas company’s stock worth $291,000 after buying an additional 18 shares in the last quarter. Syntal Capital Partners LLC lifted its holdings in Schlumberger N.V. by 0.5% during the 1st quarter. Syntal Capital Partners LLC now owns 5,613 shares of the oil and gas company’s stock worth $439,000 after buying an additional 29 shares in the last quarter. Finally, Family Legacy Inc. lifted its holdings in Schlumberger N.V. by 0.9% during the 2nd quarter. Family Legacy Inc. now owns 3,372 shares of the oil and gas company’s stock worth $222,000 after buying an additional 30 shares in the last quarter. Institutional investors own 78.99% of the company’s stock.
The firm has a market cap of $92.65 billion, a P/E ratio of 526.93 and a beta of 1.03. The stock has a 50 day moving average price of $65.23 and a 200-day moving average price of $70.79.
Schlumberger N.V. (NYSE:SLB) last released its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $7.25 billion. During the same period in the previous year, the firm earned $0.23 earnings per share. Schlumberger N.V.’s revenue for the quarter 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 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 dividend of $0.50 per share. The ex-dividend date is Friday, September 1st. This represents a $2.00 annualized dividend and a yield of 2.99%. Schlumberger N.V.’s dividend payout ratio is currently 1,538.58%.
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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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