Rothschild Asset Management Inc. Takes $538,000 Position in Schlumberger N.V. (SLB)
Rothschild Asset Management Inc. purchased a new stake in shares of Schlumberger N.V. (NYSE:SLB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,177 shares of the oil and gas company’s stock, valued at approximately $538,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cardinal Capital Management boosted its stake in Schlumberger N.V. by 6.0% in the second quarter. Cardinal Capital Management now owns 43,414 shares of the oil and gas company’s stock valued at $2,858,000 after acquiring an additional 2,461 shares during the last quarter. Pillar Pacific Capital Management LLC boosted its stake in Schlumberger N.V. by 8.0% in the second quarter. Pillar Pacific Capital Management LLC now owns 57,553 shares of the oil and gas company’s stock valued at $3,789,000 after acquiring an additional 4,271 shares during the last quarter. Honkamp Krueger Financial Services Inc. boosted its stake in Schlumberger N.V. by 7.8% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 5,034 shares of the oil and gas company’s stock valued at $331,000 after acquiring an additional 364 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in Schlumberger N.V. by 48.6% in the second quarter. Kornitzer Capital Management Inc. KS now owns 513,908 shares of the oil and gas company’s stock valued at $33,836,000 after acquiring an additional 168,130 shares during the last quarter. Finally, Spinnaker Trust boosted its stake in Schlumberger N.V. by 129.4% in the second quarter. Spinnaker Trust now owns 36,960 shares of the oil and gas company’s stock valued at $2,433,000 after acquiring an additional 20,845 shares during the last quarter. 78.91% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on SLB shares. UBS AG set a $90.00 price objective on shares of Schlumberger N.V. and gave the company a “buy” rating in a research note on Friday, June 16th. Barclays PLC lowered shares of Schlumberger N.V. from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $98.00 to $73.00 in a report on Wednesday, June 21st. Morgan Stanley increased their target price on shares of Schlumberger N.V. from $90.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 21st. HSBC Holdings plc reiterated a “neutral” rating and issued a $80.00 target price (down from $86.00) on shares of Schlumberger N.V. in a report on Wednesday, June 21st. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $89.00 target price on shares of Schlumberger N.V. in a report on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. Schlumberger N.V. presently has an average rating of “Buy” and a consensus price target of $84.52.
In other Schlumberger N.V. news, Director Michael E. Marks bought 8,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $64.20 per share, with a total value of $513,600.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Helge Lund bought 2,800 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was acquired at an average cost of $66.78 per share, with a total value of $186,984.00. The disclosure for this purchase can be found here. Insiders own 0.38% of the company’s stock.
Schlumberger N.V. (NYSE:SLB) opened at 68.34 on Friday. The company’s 50-day moving average is $66.39 and its 200-day moving average is $69.47. Schlumberger N.V. has a 52-week low of $62.56 and a 52-week high of $87.84. The firm has a market capitalization of $94.62 billion, a PE ratio of 538.11 and a beta of 1.05.
Schlumberger N.V. (NYSE:SLB) last posted its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.30 by $0.05. The firm had revenue of $7.46 billion for the quarter, compared to the consensus estimate of $7.25 billion. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. Analysts forecast that Schlumberger N.V. will post $1.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Wednesday, September 6th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Friday, September 1st. Schlumberger N.V.’s dividend payout ratio (DPR) is presently 1,538.58%.
Schlumberger N.V. 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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