First Merchants Corp Has $3.52 Million Position in Schlumberger N.V. (SLB)
First Merchants Corp lifted its position in Schlumberger N.V. (NYSE:SLB) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,461 shares of the oil and gas company’s stock after buying an additional 2,470 shares during the quarter. First Merchants Corp’s holdings in Schlumberger N.V. were worth $3,520,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in SLB. Tradewinds Capital Management LLC boosted its position in Schlumberger N.V. by 29.8% during the first quarter. Tradewinds Capital Management LLC now owns 1,338 shares of the oil and gas company’s stock worth $104,000 after purchasing an additional 307 shares during the period. MCF Advisors LLC boosted its position in Schlumberger N.V. by 130.3% during the first quarter. MCF Advisors LLC now owns 1,617 shares of the oil and gas company’s stock worth $126,000 after purchasing an additional 915 shares during the period. Proficio Capital Partners LLC boosted its position in Schlumberger N.V. by 18.0% during the first quarter. Proficio Capital Partners LLC now owns 2,035 shares of the oil and gas company’s stock worth $145,000 after purchasing an additional 310 shares during the period. Independence Advisors LLC bought a new position in Schlumberger N.V. during the second quarter worth $288,000. Finally, Baystate Wealth Management LLC boosted its position in Schlumberger N.V. by 27.6% during the first quarter. Baystate Wealth Management LLC now owns 2,402 shares of the oil and gas company’s stock worth $191,000 after purchasing an additional 520 shares during the period. 78.90% of the stock is owned by institutional investors and hedge funds.
Schlumberger N.V. (NYSE SLB) opened at 69.76 on Friday. Schlumberger N.V. has a 52 week low of $62.56 and a 52 week high of $87.84. The firm has a market cap of $96.58 billion, a P/E ratio of 549.29 and a beta of 1.03. The firm’s 50-day moving average price is $65.20 and its 200 day moving average price is $70.30.
Schlumberger N.V. (NYSE:SLB) last released its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. The firm had revenue of $7.46 billion for the quarter, compared to analysts’ expectations of $7.25 billion. During the same quarter last year, the firm posted $0.23 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. Equities analysts forecast that Schlumberger N.V. will post $1.53 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Wednesday, September 6th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $2.00 annualized dividend and a dividend yield of 2.87%. Schlumberger N.V.’s payout ratio is currently 1,538.58%.
A number of equities analysts have commented on SLB shares. Morgan Stanley lifted their price objective on shares of Schlumberger N.V. from $90.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 21st. Sanford C. Bernstein raised shares of Schlumberger N.V. from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $94.00 to $80.00 in a research report on Thursday, July 6th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating on shares of Schlumberger N.V. in a research report on Saturday, July 22nd. BMO Capital Markets reaffirmed a “buy” rating and set a $74.00 price objective on shares of Schlumberger N.V. in a research report on Wednesday, September 6th. Finally, Zacks Investment Research raised shares of Schlumberger N.V. from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $85.80.
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In other Schlumberger N.V. news, Director Helge Lund purchased 2,800 shares of the stock in a transaction on Monday, July 24th. The shares were purchased at an average price of $66.78 per share, with a total value of $186,984.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael E. Marks purchased 8,000 shares of the stock in a transaction 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. Company insiders own 0.38% of the company’s stock.
About Schlumberger N.V.
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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