Schlumberger N.V. (SLB) Shares Sold by Warren Averett Asset Management LLC
Warren Averett Asset Management LLC reduced its position in shares of Schlumberger N.V. (NYSE:SLB) by 10.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,108 shares of the oil and gas company’s stock after selling 736 shares during the period. Warren Averett Asset Management LLC’s holdings in Schlumberger N.V. were worth $402,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Tradewinds Capital Management LLC increased its holdings in shares of Schlumberger N.V. by 29.8% during the first quarter. Tradewinds Capital Management LLC now owns 1,338 shares of the oil and gas company’s stock worth $104,000 after buying an additional 307 shares in the last quarter. MCF Advisors LLC increased its holdings in shares of Schlumberger N.V. by 130.3% during the first quarter. MCF Advisors LLC now owns 1,617 shares of the oil and gas company’s stock worth $126,000 after buying an additional 915 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Schlumberger N.V. by 18.0% during the first quarter. Proficio Capital Partners LLC now owns 2,035 shares of the oil and gas company’s stock worth $145,000 after buying an additional 310 shares in the last quarter. Independence Advisors LLC acquired a new position in shares of Schlumberger N.V. during the second quarter worth $288,000. Finally, Baystate Wealth Management LLC increased its holdings in shares of Schlumberger N.V. by 27.6% during the first quarter. Baystate Wealth Management LLC now owns 2,402 shares of the oil and gas company’s stock worth $191,000 after buying an additional 520 shares in the last quarter. Institutional investors and hedge funds own 78.91% of the company’s stock.
In other news, Director Michael E. Marks bought 8,000 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average price of $64.20 per share, for a total transaction of $513,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Helge Lund bought 2,800 shares of the company’s stock in a transaction dated Monday, July 24th. The stock was purchased at an average price of $66.78 per share, for a total transaction of $186,984.00. The disclosure for this purchase can be found here. Corporate insiders own 0.38% of the company’s stock.
Shares of Schlumberger N.V. (NYSE:SLB) opened at 68.87 on Friday. The firm has a 50-day moving average of $66.24 and a 200 day moving average of $69.55. The stock has a market cap of $95.35 billion, a price-to-earnings ratio of 542.28 and a beta of 1.05. Schlumberger N.V. has a 1-year low of $62.56 and a 1-year high of $87.84.
Schlumberger N.V. (NYSE:SLB) last issued its earnings results 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. The firm had revenue of $7.46 billion for the quarter, compared to the consensus estimate 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 was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 earnings per share. Equities research analysts forecast that Schlumberger N.V. will post $1.52 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Wednesday, September 6th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $2.00 annualized dividend and a dividend yield of 2.90%. Schlumberger N.V.’s dividend payout ratio is presently 1,538.58%.
Several brokerages have recently issued reports on SLB. Zacks Investment Research upgraded shares of Schlumberger N.V. from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Scotiabank set a $90.00 price target on shares of Schlumberger N.V. and gave the stock a “buy” rating in a report on Friday, July 7th. Iberia Capital downgraded shares of Schlumberger N.V. from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $100.00 to $77.00 in a report on Thursday, June 29th. Sanford C. Bernstein reiterated an “outperform” rating and set a $80.00 price target on shares of Schlumberger N.V. in a report on Wednesday, September 6th. Finally, Morgan Stanley upped their price target on shares of Schlumberger N.V. from $90.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $85.28.
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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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