Curbstone Financial Management Corp reduced its stake in Schlumberger N.V. (NYSE:SLB) by 6.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,113 shares of the oil and gas company’s stock after selling 1,029 shares during the period. Curbstone Financial Management Corp’s holdings in Schlumberger N.V. were worth $995,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wealth Architects LLC increased its holdings in Schlumberger N.V. by 0.3% in the 1st quarter. Wealth Architects LLC now owns 4,003 shares of the oil and gas company’s stock valued at $313,000 after purchasing an additional 13 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management increased its holdings in Schlumberger N.V. by 0.5% in the 1st quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 3,720 shares of the oil and gas company’s stock valued at $291,000 after purchasing an additional 18 shares in the last quarter. Syntal Capital Partners LLC grew its stake in shares of Schlumberger N.V. by 0.5% during the first quarter. Syntal Capital Partners LLC now owns 5,613 shares of the oil and gas company’s stock valued at $439,000 after acquiring an additional 29 shares in the last quarter. North Star Investment Management Corp. grew its stake in shares of Schlumberger N.V. by 1.0% during the first quarter. North Star Investment Management Corp. now owns 3,965 shares of the oil and gas company’s stock valued at $310,000 after acquiring an additional 39 shares in the last quarter. Finally, Winch Advisory Services LLC grew its stake in shares of Schlumberger N.V. by 1.2% during the first quarter. Winch Advisory Services LLC now owns 5,552 shares of the oil and gas company’s stock valued at $434,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 78.99% of the company’s stock.
In other news, Director Helge Lund acquired 2,800 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were purchased at an average cost of $66.78 per share, with a total value of $186,984.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael E. Marks acquired 8,000 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $64.20 per share, for a total transaction of $513,600.00. The disclosure for this purchase can be found here. 0.38% of the stock is currently owned by corporate insiders.
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Several analysts have recently weighed in on SLB shares. Sanford C. Bernstein restated an “outperform” rating and set a $80.00 target price on shares of Schlumberger N.V. in a research note on Wednesday, September 6th. Morgan Stanley raised their target price on Schlumberger N.V. from $90.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 21st. Jefferies Group LLC set a $80.00 target price on Schlumberger N.V. and gave the company a “buy” rating in a research note on Friday, August 25th. Zacks Investment Research downgraded Schlumberger N.V. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Scotiabank set a $90.00 target price on Schlumberger N.V. and gave the company a “buy” rating in a research note on Friday, July 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. Schlumberger N.V. presently has an average rating of “Buy” and an average target price of $85.80.
Schlumberger N.V. (SLB) traded down 0.68% during midday trading on Friday, hitting $67.24. The stock had a trading volume of 11,428,399 shares. The stock’s 50 day moving average price is $65.24 and its 200-day moving average price is $70.65. Schlumberger N.V. has a 52 week low of $62.56 and a 52 week high of $87.84. The company has a market cap of $93.10 billion, a PE ratio of 529.45 and a beta of 1.03.
Schlumberger N.V. (NYSE:SLB) last issued its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The firm had revenue of $7.46 billion for the quarter, compared to analysts’ expectations of $7.25 billion. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 earnings per share. Equities research analysts predict that Schlumberger N.V. will post $1.51 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, September 1st. This represents a $2.00 annualized dividend and a yield of 2.97%. Schlumberger N.V.’s dividend payout ratio is 1,538.58%.
Schlumberger N.V. Company Profile
Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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