Traders sold shares of Schlumberger NV (NYSE:SLB) on strength during trading hours on Wednesday after an insider sold shares in the company. $86.61 million flowed into the stock on the tick-up and $137.61 million flowed out of the stock on the tick-down, for a money net flow of $51.00 million out of the stock. Of all stocks tracked, Schlumberger NV had the 9th highest net out-flow for the day. Schlumberger NV traded up $1.61 for the day and closed at $80.15Specifically, CFO Simon Ayat sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 18th. The stock was 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 owns 153,335 shares in the company, valued at approximately $12,831,072.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tore I. Sandvold sold 2,500 shares of the stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $78.09, for a total value of $195,225.00. Following the sale, the director now owns 17,750 shares of the company’s stock, 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.
Several analysts recently weighed in on SLB shares. BMO Capital Markets restated a “buy” rating on shares of Schlumberger NV in a research note on Wednesday, July 13th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Schlumberger NV in a research report on Thursday, June 30th. Credit Suisse Group AG reiterated a “buy” rating on shares of Schlumberger NV in a research report on Tuesday, June 28th. Citigroup Inc. reiterated a “buy” rating and issued a $89.00 price objective (down previously from $90.00) on shares of Schlumberger NV in a research report on Thursday, June 23rd. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $94.00 price objective on shares of Schlumberger NV in a research report on Wednesday, June 15th. 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 stock has an average rating of “Buy” and an average price target of $90.59.
The company’s 50-day moving average is $78.85 and its 200-day moving average is $77.76. The stock’s market cap is $111.46 billion.
Schlumberger NV (NYSE:SLB) last announced 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 business had revenue of $7.16 billion for the quarter, compared to analysts’ expectations of $7.09 billion. On average, analysts expect that Schlumberger NV will post $1.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Wednesday, September 7th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 2nd. This represents a $2.00 annualized dividend and a yield of 2.50%. Schlumberger NV’s payout ratio is -168.07%.
A number of institutional investors have recently made changes to their positions in the stock. Invictus RG boosted its position in shares of Schlumberger NV by 379.2% in the second quarter. Invictus RG now owns 1,313 shares of the company’s stock valued at $104,000 after buying an additional 1,039 shares during the last quarter. Roble Belko & Company Inc acquired a new position in shares of Schlumberger NV during the second quarter valued at $108,000. Proficio Capital Partners LLC boosted its position in shares of Schlumberger NV by 78.3% in the second quarter. Proficio Capital Partners LLC now owns 1,426 shares of the company’s stock valued at $113,000 after buying an additional 626 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Schlumberger NV during the second quarter valued at $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 valued at $118,000 after buying an additional 500 shares in the last quarter. 78.39% of the stock is currently owned by institutional investors and hedge funds.
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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