According to Zacks, “Oil prices have been weak for a considerable length of time owing to oversupplied commodity markets. According to OPEC, non-OPEC members will likely continue to produce more oil than expected during 2016 and 2017. Moreover, IEA recently announced its anticipation of a decline in global oil demand for both 2016 and 2017. IEA also expects the oil market to remain oversupplied at least till the first half of 2017. Hence, the oversupplied crude market might keep oil prices low in the coming months. Weakness in oil prices translates to lower incentives for drilling, in turn, lesser income for the likes of Schlumberger that support the drilling players in setting up oil wells. Considering these issues, we expect Schlumberger to perform below the industry levels, which gives investors little reason to hold the stock. “
Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. restated a buy rating on shares of Schlumberger NV in a research report on Friday, July 22nd. BMO Capital Markets reaffirmed a buy rating on shares of Schlumberger NV in a research note on Wednesday, July 13th. Jefferies Group reaffirmed a hold rating and set a $85.00 price target (up from $80.00) on shares of Schlumberger NV in a research note on Monday, July 11th. Societe Generale raised Schlumberger NV from a hold rating to a buy rating and raised their price target for the stock from $86.00 to $91.00 in a research note on Monday, July 18th. Finally, Stephens reaffirmed a top pick rating on shares of Schlumberger NV in a research note on Friday, July 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $90.69.
Schlumberger NV (NYSE:SLB) traded up 2.7184% on Tuesday, hitting $83.6025. 2,116,981 shares of the stock were exchanged. Schlumberger NV has a 52 week low of $59.60 and a 52 week high of $83.97. The company’s market cap is $116.27 billion. The company’s 50-day moving average is $78.67 and its 200-day moving average is $78.31.
Schlumberger NV (NYSE:SLB) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.02. Schlumberger NV had a positive return on equity of 6.88% and a negative net margin of 5.64%. The firm earned $7.16 billion during the quarter, compared to analyst estimates of $7.09 billion. On average, analysts predict that Schlumberger NV will post $1.12 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Wednesday, September 7th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, September 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.46%. Schlumberger NV’s dividend payout ratio is presently -168.07%.
In related news, insider Howard Guild sold 11,900 shares of the company’s stock in a transaction dated Monday, July 25th. The stock was 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 owns 19,781 shares in the company, valued at $1,608,590.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Simon Ayat sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $83.68, for a total value of $4,184,000.00. Following the completion of the sale, the chief financial officer now owns 153,335 shares of the company’s stock, valued at approximately $12,831,072.80. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Invictus RG increased its stake in Schlumberger NV by 379.2% in the second quarter. Invictus RG now owns 1,313 shares of the company’s stock worth $104,000 after buying an additional 1,039 shares in the last quarter. Roble Belko & Company Inc acquired a new position in Schlumberger NV during the second quarter worth about $108,000. Proficio Capital Partners LLC boosted its position in Schlumberger NV by 78.3% in the second quarter. Proficio Capital Partners LLC now owns 1,426 shares of the company’s stock worth $113,000 after buying an additional 626 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in Schlumberger NV during the second quarter worth about $114,000. Finally, New Harbor Financial Group LLC boosted its position in Schlumberger NV by 50.0% in the second quarter. New Harbor Financial Group LLC now owns 1,500 shares of the company’s stock worth $118,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 78.32% of the company’s stock.
About Schlumberger NV
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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