Retirement Systems of Alabama raised its stake in shares of Schlumberger NV (NYSE:SLB) by 11.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 708,393 shares of the company’s stock after buying an additional 75,093 shares during the period. Retirement Systems of Alabama’s holdings in Schlumberger NV were worth $56,020,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Bank of Montreal Can acquired a new position in shares of Schlumberger NV during the second quarter valued at approximately $182,448,000. State Street Corp increased its position in shares of Schlumberger NV by 2.6% in the first quarter. State Street Corp now owns 57,778,375 shares of the company’s stock valued at $4,261,159,000 after buying an additional 1,485,126 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new position in shares of Schlumberger NV during the first quarter valued at approximately $46,113,000. Virginia Retirement System acquired a new position in shares of Schlumberger NV during the first quarter valued at approximately $31,620,000. Finally, Loomis Sayles & Co. L P increased its position in shares of Schlumberger NV by 6.4% in the first quarter. Loomis Sayles & Co. L P now owns 6,755,690 shares of the company’s stock valued at $498,233,000 after buying an additional 408,901 shares during the last quarter. Institutional investors and hedge funds own 78.39% of the company’s stock.
Shares of Schlumberger NV (NYSE:SLB) traded up 0.11% during midday trading on Thursday, reaching $81.53. The company’s stock had a trading volume of 4,651,957 shares. The stock’s market capitalization is $113.38 billion. The company has a 50 day moving average of $78.66 and a 200-day moving average of $78.04. Schlumberger NV has a 52 week low of $59.60 and a 52 week high of $83.97.
Schlumberger NV (NYSE:SLB) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The business earned $7.16 billion during the quarter, compared to analysts’ expectations of $7.09 billion. Schlumberger NV had a negative net margin of 5.64% and a positive return on equity of 6.88%. Equities research analysts predict that Schlumberger NV will post $1.12 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Wednesday, September 7th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, September 2nd. This represents a $2.00 annualized dividend and a dividend yield of 2.45%. Schlumberger NV’s dividend payout ratio (DPR) is currently -168.07%.
SLB has been the topic of several research analyst reports. JPMorgan Chase & Co. restated a “buy” rating on shares of Schlumberger NV in a research report on Thursday, June 30th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating on shares of Schlumberger NV in a report on Tuesday, July 5th. Guggenheim reaffirmed a “buy” rating on shares of Schlumberger NV in a report on Wednesday, August 31st. Jefferies Group reaffirmed a “hold” rating on shares of Schlumberger NV in a report on Thursday, June 30th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $89.00 target price (down from $90.00) on shares of Schlumberger NV in a report on Thursday, June 23rd. Four equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $90.69.
In related news, insider Howard Guild sold 11,900 shares of the business’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $81.32, for a total value of $967,708.00. Following the completion of the sale, the insider now directly owns 19,781 shares of the company’s stock, valued at $1,608,590.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Simon Ayat sold 50,000 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $83.68, for a total transaction of $4,184,000.00. Following the completion of the sale, the chief financial officer now directly owns 153,335 shares of the company’s stock, valued at $12,831,072.80. 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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