Oppenheimer Asset Management Inc. Purchases Shares of 172,794 Schlumberger N.V. (SLB)
Oppenheimer Asset Management Inc. purchased a new position in Schlumberger N.V. (NYSE:SLB) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 172,794 shares of the oil and gas company’s stock, valued at approximately $13,495,000.
Several other hedge funds and other institutional investors have also bought and sold shares of SLB. Tradewinds Capital Management LLC increased its position in Schlumberger N.V. by 29.8% in the first quarter. Tradewinds Capital Management LLC now owns 1,338 shares of the oil and gas company’s stock worth $104,000 after buying an additional 307 shares during the last quarter. American Research & Management Co. increased its position in Schlumberger N.V. by 8.5% in the first quarter. American Research & Management Co. now owns 1,356 shares of the oil and gas company’s stock worth $106,000 after buying an additional 106 shares during the last quarter. MCF Advisors LLC increased its position in Schlumberger N.V. by 130.3% in the first quarter. MCF Advisors LLC now owns 1,617 shares of the oil and gas company’s stock worth $126,000 after buying an additional 915 shares during the last quarter. Jackson Grant Investment Advisers Inc. acquired a new position in Schlumberger N.V. during the fourth quarter worth about $160,000. Finally, Baystate Wealth Management LLC increased its position in Schlumberger N.V. by 27.6% in the first quarter. Baystate Wealth Management LLC now owns 2,402 shares of the oil and gas company’s stock worth $191,000 after buying an additional 520 shares during the last quarter. Institutional investors own 79.14% of the company’s stock.
Shares of Schlumberger N.V. (NYSE:SLB) traded down 0.34% on Friday, hitting $64.18. 1,077,337 shares of the company’s stock traded hands. The company has a market cap of $88.86 billion, a price-to-earnings ratio of 505.35 and a beta of 1.02. Schlumberger N.V. has a 1-year low of $64.04 and a 1-year high of $87.84. The firm’s 50-day moving average price is $66.49 and its 200 day moving average price is $73.83.
Schlumberger N.V. (NYSE:SLB) last posted its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.35 earnings per share for the quarter, topping 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 business earned $0.23 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts expect that Schlumberger N.V. will post $1.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Wednesday, September 6th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Friday, September 1st. Schlumberger N.V.’s payout ratio is currently 1,538.58%.
A number of research firms have recently issued reports on SLB. Zacks Investment Research upgraded shares of Schlumberger N.V. from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Scotiabank set a $90.00 price objective on shares of Schlumberger N.V. and gave the stock a “buy” rating in a report on Friday, July 7th. Jefferies Group LLC reaffirmed an “equal weight” rating on shares of Schlumberger N.V. in a report on Friday, April 14th. Cowen and Company reaffirmed an “outperform” rating and issued a $99.00 price objective on shares of Schlumberger N.V. in a report on Tuesday, April 25th. Finally, Vetr raised shares of Schlumberger N.V. from a “buy” rating to a “strong-buy” rating and set a $91.00 price objective on the stock in a report on Thursday, April 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. Schlumberger N.V. has a consensus rating of “Buy” and a consensus target price of $86.40.
In related news, Director Peter L. S. Currie purchased 3,625 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were bought at an average price of $69.02 per share, for a total transaction of $250,197.50. Following the completion of the transaction, the director now owns 31,550 shares of the company’s stock, valued at $2,177,581. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Helge Lund purchased 2,800 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was bought at an average price of $66.78 per share, for a total transaction of $186,984.00. The disclosure for this purchase can be found here. 0.38% of the stock is currently owned by company insiders.
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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