CCM Investment Advisers LLC Buys 868 Shares of Schlumberger N.V. (SLB)
CCM Investment Advisers LLC increased its stake in shares of Schlumberger N.V. (NYSE:SLB) by 0.9% during the first quarter, Holdings Channel reports. The institutional investor owned 94,274 shares of the oil and gas company’s stock after buying an additional 868 shares during the period. CCM Investment Advisers LLC’s holdings in Schlumberger N.V. were worth $7,362,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. State Street Corp increased its stake in shares of Schlumberger N.V. by 1.1% in the first quarter. State Street Corp now owns 72,400,230 shares of the oil and gas company’s stock valued at $5,655,994,000 after buying an additional 769,874 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Schlumberger N.V. by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 26,666,760 shares of the oil and gas company’s stock valued at $2,082,673,000 after buying an additional 477,006 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Schlumberger N.V. by 30.8% in the first quarter. American Century Companies Inc. now owns 8,326,038 shares of the oil and gas company’s stock valued at $650,264,000 after buying an additional 1,959,214 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Schlumberger N.V. by 71.4% in the first quarter. First Eagle Investment Management LLC now owns 7,857,819 shares of the oil and gas company’s stock valued at $613,696,000 after buying an additional 3,272,127 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Schlumberger N.V. by 4.2% in the first quarter. Legal & General Group Plc now owns 6,715,534 shares of the oil and gas company’s stock valued at $524,469,000 after buying an additional 273,522 shares in the last quarter. Hedge funds and other institutional investors own 79.65% of the company’s stock.
Shares of Schlumberger N.V. (NYSE:SLB) traded up 0.43% during trading on Wednesday, reaching $63.71. 2,214,174 shares of the company’s stock were exchanged. Schlumberger N.V. has a 52-week low of $63.03 and a 52-week high of $87.84. The company has a market capitalization of $88.21 billion, a PE ratio of 501.65 and a beta of 1.02. The company has a 50 day moving average price of $66.32 and a 200-day moving average price of $73.22.
Schlumberger N.V. (NYSE:SLB) last posted its earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. The business 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 firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. On average, equities analysts forecast that Schlumberger N.V. will post $1.51 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Wednesday, September 6th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $2.00 dividend on an annualized basis and a yield of 3.15%. Schlumberger N.V.’s payout ratio is currently 1,538.58%.
SLB has been the subject of several recent research reports. Barclays PLC reiterated an “overweight” rating and issued a $107.00 price target on shares of Schlumberger N.V. in a report on Monday, April 24th. BidaskClub downgraded Schlumberger N.V. from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Wells Fargo & Company reiterated an “outperform” rating on shares of Schlumberger N.V. in a report on Monday, July 10th. Guggenheim downgraded Schlumberger N.V. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 27th. Finally, Sanford C. Bernstein upgraded Schlumberger N.V. from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $94.00 to $80.00 in a report on Thursday, July 6th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $86.40.
In related news, President Aaron Gatt Floridia sold 40,000 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $69.17, for a total value of $2,766,800.00. Following the sale, the president now owns 96,175 shares of the company’s stock, valued at $6,652,424.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael E. Marks bought 8,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was acquired 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. In the last three months, insiders purchased 14,425 shares of company stock worth $950,782. 0.38% of the stock is currently owned by insiders.
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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