RS Investment Management Co. LLC raised its position in shares of Schlumberger NV (NYSE:SLB) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 215,310 shares of the company’s stock after buying an additional 1,640 shares during the period. RS Investment Management Co. LLC’s holdings in Schlumberger NV were worth $17,027,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of SLB. Bank of Montreal Can acquired a new position in shares of Schlumberger NV during the second quarter worth about $182,448,000. State Street Corp boosted 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 worth $4,261,159,000 after buying an additional 1,485,126 shares during the period. NN Investment Partners Holdings N.V. acquired a new position in shares of Schlumberger NV during the first quarter worth about $46,113,000. Virginia Retirement System acquired a new position in shares of Schlumberger NV during the first quarter worth about $31,620,000. Finally, Loomis Sayles & Co. L P boosted 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 worth $498,233,000 after buying an additional 408,901 shares during the period. 78.39% of the stock is owned by institutional investors.
Schlumberger NV (NYSE:SLB) traded down 0.14% during midday trading on Friday, reaching $81.31. 5,305,592 shares of the company were exchanged. The firm’s 50 day moving average price is $78.71 and its 200-day moving average price is $77.85. The stock’s market capitalization is $113.08 billion. Schlumberger NV has a 52 week low of $59.60 and a 52 week high of $83.97.
Schlumberger NV (NYSE:SLB) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $7.16 billion for 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 analysts forecast that Schlumberger NV will post $1.12 EPS for the current fiscal 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 paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, September 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.46%. Schlumberger NV’s payout ratio is -168.07%.
Several research analysts have issued reports on the stock. Howard Weil lifted their target price on shares of Schlumberger NV from $80.00 to $90.00 and gave the stock a “sector outperform” rating in a report on Monday, July 25th. Zacks Investment Research raised shares of Schlumberger NV from a “strong sell” rating to a “hold” rating in a report on Monday, June 27th. Jefferies Group reaffirmed a “hold” rating and issued a $85.00 target price (up from $80.00) on shares of Schlumberger NV in a report on Monday, July 11th. Citigroup Inc. decreased their target price on shares of Schlumberger NV from $92.00 to $90.00 and set a “buy” rating for the company in a report on Monday, September 12th. Finally, Vetr reaffirmed a “buy” rating on shares of Schlumberger NV in a report on Tuesday, August 2nd. Four analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company. Schlumberger NV presently has a consensus rating of “Buy” and an average price target of $90.59.
In other news, Director Michael E. Marks sold 13,600 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $81.19, for a total transaction of $1,104,184.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Tore I. Sandvold sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $78.09, for a total transaction of $195,225.00. Following the sale, the director now directly owns 17,750 shares in the company, valued at approximately $1,386,097.50. 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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