Oakworth Capital Inc. increased its stake in Schlumberger NV (NYSE:SLB) by 6.5% during the second quarter, Holdings Channel reports. The firm owned 10,323 shares of the company’s stock after buying an additional 629 shares during the period. Oakworth Capital Inc.’s holdings in Schlumberger NV were worth $788,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its stake in 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 period. Franklin Resources Inc. raised its stake in Schlumberger NV by 3.8% in the first quarter. Franklin Resources Inc. now owns 10,531,372 shares of the company’s stock valued at $776,689,000 after buying an additional 389,754 shares during the period. Geode Capital Management LLC raised its stake in Schlumberger NV by 0.3% in the first quarter. Geode Capital Management LLC now owns 10,381,557 shares of the company’s stock valued at $764,118,000 after buying an additional 25,983 shares during the period. Manning & Napier Advisors LLC raised its stake in Schlumberger NV by 4.0% in the first quarter. Manning & Napier Advisors LLC now owns 6,768,514 shares of the company’s stock valued at $499,176,000 after buying an additional 261,635 shares during the period. Finally, Loomis Sayles & Co. L P raised its stake in 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 period. 78.39% of the stock is currently owned by institutional investors.

Shares of Schlumberger NV (NYSE:SLB) traded down 0.61% during mid-day trading on Friday, hitting $76.33. The company’s stock had a trading volume of 7,243,193 shares. The company’s market cap is $106.15 billion. Schlumberger NV has a 52-week low of $59.60 and a 52-week high of $83.97. The stock’s 50 day moving average price is $80.45 and its 200 day moving average price is $77.44.

Schlumberger NV (NYSE:SLB) last announced its earnings results on Thursday, July 21st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the 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. Equities analysts forecast that Schlumberger NV will post $1.12 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Wednesday, September 7th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Friday, September 2nd. Schlumberger NV’s dividend payout ratio is currently -168.07%.

Several analysts have recently issued reports on SLB shares. Zacks Investment Research lowered Schlumberger NV from a “hold” rating to a “strong sell” rating in a report on Thursday, June 2nd. Howard Weil raised their price objective on Schlumberger NV from $80.00 to $90.00 and gave the company a “sector outperform” rating in a research note on Monday, July 25th. Scotiabank reaffirmed a “sector outperform” rating and issued a $90.00 price objective (up from $80.00) on shares of Schlumberger NV in a research note on Tuesday, July 26th. Goldman Sachs Group Inc. set a $100.00 price objective on Schlumberger NV and gave the company a “buy” rating in a research note on Monday, July 25th. Finally, Simmons reaffirmed an “outperform” rating and issued a $84.00 price objective (down from $86.00) on shares of Schlumberger NV in a research note on Monday, June 20th. Four analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company. Schlumberger NV currently has a consensus rating of “Buy” and a consensus price target of $90.61.

In related news, VP Stephane Biguet sold 4,227 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $78.52, for a total transaction of $331,904.04. Following the completion of the transaction, the vice president now owns 7,108 shares of the company’s stock, valued at approximately $558,120.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Howard Guild sold 11,900 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 19,781 shares of the company’s stock, valued at approximately $1,608,590.92. The disclosure for this sale can be found here. 0.36% of the stock is owned by insiders.

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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