Schlumberger N.V. (SLB) Position Increased by Stonebridge Capital Management Inc.
Stonebridge Capital Management Inc. boosted its stake in Schlumberger N.V. (NYSE:SLB) by 44.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,835 shares of the oil and gas company’s stock after acquiring an additional 19,595 shares during the period. Schlumberger N.V. accounts for approximately 1.6% of Stonebridge Capital Management Inc.’s holdings, making the stock its 20th biggest holding. Stonebridge Capital Management Inc.’s holdings in Schlumberger N.V. were worth $4,203,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. CGOV Asset Management raised its position in Schlumberger N.V. by 27.1% in the 1st quarter. CGOV Asset Management now owns 41,300 shares of the oil and gas company’s stock worth $4,297,000 after buying an additional 8,800 shares during the last quarter. Waldron LP increased its position in shares of Schlumberger N.V. by 76.5% during the 1st quarter. Waldron LP now owns 7,270 shares of the oil and gas company’s stock valued at $568,000 after purchasing an additional 3,150 shares during the last quarter. Crestwood Advisors Group LLC increased its position in shares of Schlumberger N.V. by 3.9% during the 1st quarter. Crestwood Advisors Group LLC now owns 228,298 shares of the oil and gas company’s stock valued at $17,830,000 after purchasing an additional 8,552 shares during the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC increased its position in shares of Schlumberger N.V. by 26.2% during the 1st quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 14,198 shares of the oil and gas company’s stock valued at $1,108,000 after purchasing an additional 2,945 shares during the last quarter. Finally, First Manhattan Co. increased its position in shares of Schlumberger N.V. by 134.9% during the 1st quarter. First Manhattan Co. now owns 57,046 shares of the oil and gas company’s stock valued at $4,486,000 after purchasing an additional 32,764 shares during the last quarter. Institutional investors and hedge funds own 78.91% of the company’s stock.
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Schlumberger N.V. (NYSE SLB) opened at 68.34 on Friday. The stock has a market capitalization of $94.62 billion, a PE ratio of 538.11 and a beta of 1.05. The stock has a 50 day moving average price of $66.39 and a 200 day moving average price of $69.47. Schlumberger N.V. has a 52 week low of $62.56 and a 52 week high of $87.84.
Schlumberger N.V. (NYSE:SLB) last announced its earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $7.46 billion during the quarter, compared to analysts’ expectations of $7.25 billion. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS. Equities analysts forecast that Schlumberger N.V. will post $1.52 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Wednesday, September 6th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.93%. Schlumberger N.V.’s dividend payout ratio (DPR) is presently 1,538.58%.
Several equities research analysts have recently commented on SLB shares. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $80.00 price target on shares of Schlumberger N.V. in a research report on Wednesday, September 6th. Morgan Stanley boosted their price objective on Schlumberger N.V. from $90.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 21st. Jefferies Group LLC set a $80.00 price objective on Schlumberger N.V. and gave the company a “buy” rating in a research note on Friday, August 25th. Zacks Investment Research downgraded Schlumberger N.V. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Scotiabank set a $90.00 price objective on Schlumberger N.V. and gave the company a “buy” rating in a research note on Friday, July 7th. Two 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. has an average rating of “Buy” and a consensus price target of $84.52.
In other Schlumberger N.V. news, Director Helge Lund bought 2,800 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was acquired at an average cost of $66.78 per share, with a total value of $186,984.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael E. Marks bought 8,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $64.20 per share, with a total value of $513,600.00. The disclosure for this purchase can be found here. 0.38% of the stock is owned by corporate 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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