Leisure Capital Management increased its position in shares of Schlumberger NV (NYSE:SLB) by 1.2% during the second quarter, Holdings Channel reports. The fund owned 16,081 shares of the company’s stock after buying an additional 189 shares during the period. Leisure Capital Management’s holdings in Schlumberger NV were worth $1,272,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. bought a new stake in Schlumberger NV during the second quarter worth about $262,975,000. Bank of Montreal Can bought a new stake in Schlumberger NV during the second quarter worth about $182,448,000. Cambiar Investors LLC bought a new stake in Schlumberger NV during the second quarter worth about $171,211,000. State Street Corp raised its stake in Schlumberger NV by 2.6% in the first quarter. State Street Corp now owns 57,778,375 shares of the company’s stock worth $4,261,159,000 after buying an additional 1,485,126 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Schlumberger NV by 10.1% in the second quarter. Ameriprise Financial Inc. now owns 8,539,378 shares of the company’s stock worth $675,396,000 after buying an additional 780,589 shares during the last quarter. Institutional investors own 78.39% of the company’s stock.
Schlumberger NV (NYSE:SLB) traded up 1.6839% during trading on Friday, hitting $78.6728. The stock had a trading volume of 2,505,691 shares. The firm’s market cap is $109.41 billion. Schlumberger NV has a 52-week low of $59.60 and a 52-week high of $83.97. The company’s 50 day moving average is $79.10 and its 200 day moving average is $77.60.
Schlumberger NV (NYSE:SLB) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. Schlumberger NV had a negative net margin of 5.64% and a positive return on equity of 6.88%. The firm earned $7.16 billion during the quarter, compared to the consensus estimate of $7.09 billion. Equities research analysts forecast that Schlumberger NV will post $1.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Wednesday, September 7th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Friday, September 2nd. Schlumberger NV’s dividend payout ratio is presently -168.07%.
SLB has been the topic of a number of analyst reports. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Schlumberger NV in a research note on Thursday, June 30th. Goldman Sachs Group Inc. restated a “conviction-buy” rating on shares of Schlumberger NV in a research report on Tuesday, July 5th. Guggenheim restated a “buy” rating on shares of Schlumberger NV in a research report on Wednesday, August 31st. Jefferies Group restated a “hold” rating on shares of Schlumberger NV in a research report on Thursday, June 30th. Finally, Citigroup Inc. restated a “buy” rating and set a $89.00 target price (down from $90.00) on shares of Schlumberger NV in a research report on Thursday, June 23rd. Four research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $90.61.
In related news, insider Robert Scott Rowe sold 8,001 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $80.65, for a total value of $645,280.65. Following the completion of the transaction, the insider now owns 21,307 shares of the company’s stock, valued at $1,718,409.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Stephane Biguet sold 4,227 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $78.52, for a total transaction of $331,904.04. Following the completion of the transaction, the vice president now directly owns 7,108 shares of the company’s stock, valued at approximately $558,120.16. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.
Schlumberger NV Company Profile
Schlumberger N.V. is a supplier of technology, integrated project management and information solutions to the international oil and gas exploration and production industry. The Company operates in the oilfield service markets through three groups: Reservoir Characterization, Drilling and Production. Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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