Eastern Bank Acquires 582 Shares of Schlumberger N.V. (SLB)
Eastern Bank raised its holdings in Schlumberger N.V. (NYSE:SLB) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,664 shares of the oil and gas company’s stock after purchasing an additional 582 shares during the quarter. Eastern Bank’s holdings in Schlumberger N.V. were worth $2,809,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Wealth Architects LLC raised its position in shares of Schlumberger N.V. by 0.3% in the first quarter. Wealth Architects LLC now owns 4,003 shares of the oil and gas company’s stock worth $313,000 after acquiring an additional 13 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management raised its position in shares of Schlumberger N.V. by 0.5% in the first 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 acquiring an additional 18 shares during the period. Syntal Capital Partners LLC raised its position in shares of Schlumberger N.V. by 0.5% in the first quarter. Syntal Capital Partners LLC now owns 5,613 shares of the oil and gas company’s stock worth $439,000 after acquiring an additional 29 shares during the period. Family Legacy Inc. raised its position in shares of Schlumberger N.V. by 0.9% in the second quarter. Family Legacy Inc. now owns 3,372 shares of the oil and gas company’s stock worth $222,000 after acquiring an additional 30 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO raised its position in shares of Schlumberger N.V. by 0.3% in the second quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 12,886 shares of the oil and gas company’s stock worth $848,000 after acquiring an additional 36 shares during the period. 78.90% of the stock is currently owned by institutional investors.
Shares of Schlumberger N.V. (NYSE SLB) opened at 69.08 on Thursday. The stock has a market cap of $95.64 billion, a PE ratio of 543.94 and a beta of 1.03. Schlumberger N.V. has a 1-year low of $62.56 and a 1-year high of $87.84. The stock has a 50 day moving average of $65.20 and a 200 day moving average of $70.30.
Schlumberger N.V. (NYSE:SLB) last posted its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.35 earnings per share 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 net margin of 0.62% and a return on equity of 3.80%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 earnings per share. Equities research analysts forecast that Schlumberger N.V. will post $1.53 EPS for the current year.
The company also recently disclosed 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Friday, September 1st. Schlumberger N.V.’s dividend payout ratio is presently 1,538.58%.
In other news, Director Michael E. Marks acquired 8,000 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was acquired at an average price of $64.20 per share, with a total value of $513,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Helge Lund acquired 2,800 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was purchased at an average cost of $66.78 per share, with a total value of $186,984.00. The disclosure for this purchase can be found here. Insiders own 0.38% of the company’s stock.
SLB has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of Schlumberger N.V. from $90.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 21st. Sanford C. Bernstein upgraded shares of Schlumberger N.V. from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $94.00 to $80.00 in a research report on Thursday, July 6th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating on shares of Schlumberger N.V. in a research report on Saturday, July 22nd. BMO Capital Markets reiterated a “buy” rating and issued a $74.00 price objective on shares of Schlumberger N.V. in a research report on Wednesday, September 6th. Finally, Zacks Investment Research upgraded shares of Schlumberger N.V. from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. 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 stock. The company currently has a consensus rating of “Buy” and an average target price of $85.80.
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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