Sawgrass Asset Management LLC Holds Position in Schlumberger N.V. (SLB)
Sawgrass Asset Management LLC maintained its position in shares of Schlumberger N.V. (NYSE:SLB) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,014 shares of the oil and gas company’s stock at the end of the first quarter. Sawgrass Asset Management LLC’s holdings in Schlumberger N.V. were worth $1,563,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bingham Osborn & Scarborough LLC raised its position in shares of Schlumberger N.V. by 0.7% in the fourth quarter. Bingham Osborn & Scarborough LLC now owns 2,589 shares of the oil and gas company’s stock worth $217,000 after buying an additional 18 shares during the period. STA Wealth Management LLC raised its position in shares of Schlumberger N.V. by 0.3% in the fourth quarter. STA Wealth Management LLC now owns 10,070 shares of the oil and gas company’s stock worth $845,000 after buying an additional 30 shares during the period. Glassman Wealth Services raised its position in shares of Schlumberger N.V. by 1.2% in the fourth quarter. Glassman Wealth Services now owns 5,232 shares of the oil and gas company’s stock worth $439,000 after buying an additional 61 shares during the period. M Holdings Securities Inc. raised its position in shares of Schlumberger N.V. by 1.6% in the fourth quarter. M Holdings Securities Inc. now owns 3,976 shares of the oil and gas company’s stock worth $334,000 after buying an additional 62 shares during the period. Finally, Adirondack Trust Co. raised its position in shares of Schlumberger N.V. by 1.0% in the first quarter. Adirondack Trust Co. now owns 6,507 shares of the oil and gas company’s stock worth $508,000 after buying an additional 65 shares during the period. 79.39% of the stock is currently owned by institutional investors.
Shares of Schlumberger N.V. (NYSE SLB) opened at 68.58 on Friday. Schlumberger N.V. has a 52 week low of $67.00 and a 52 week high of $87.84. The company has a 50-day moving average price of $70.54 and a 200 day moving average price of $78.80. The stock’s market capitalization is $95.29 billion.
Schlumberger N.V. (NYSE:SLB) last posted its quarterly earnings data on Friday, April 21st. The oil and gas company reported $0.25 earnings per share for the quarter, hitting the consensus estimate of $0.25. The company had revenue of $6.89 billion during the quarter, compared to analysts’ expectations of $6.98 billion. Schlumberger N.V. had a positive return on equity of 3.32% and a negative net margin of 6.77%. Schlumberger N.V.’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. Analysts forecast that Schlumberger N.V. will post $1.48 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Thursday, June 1st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, May 30th. This represents a $2.00 annualized dividend and a dividend yield of 2.92%. Schlumberger N.V.’s dividend payout ratio is currently -144.93%.
A number of research analysts have recently commented on the company. Evercore ISI set a $93.00 price target on Schlumberger N.V. and gave the company a “buy” rating in a report on Saturday, April 22nd. Cowen and Company reissued an “outperform” rating and set a $99.00 price target on shares of Schlumberger N.V. in a report on Tuesday, April 25th. SunTrust Banks, Inc. lowered their price target on Schlumberger N.V. from $92.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, April 25th. Stephens reissued an “overweight” rating and set a $89.00 price target on shares of Schlumberger N.V. in a report on Monday, March 27th. Finally, Jefferies Group LLC lowered their price target on Schlumberger N.V. from $96.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, April 24th. Five analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. Schlumberger N.V. currently has a consensus rating of “Buy” and a consensus target price of $92.91.
In other news, President Aaron Gatt Floridia sold 40,000 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $69.17, for a total transaction of $2,766,800.00. Following the completion of the transaction, the president now directly 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter L. S. Currie acquired 3,625 shares of Schlumberger N.V. stock in a transaction dated Tuesday, May 30th. The shares were purchased at an average cost of $69.02 per share, with a total value of $250,197.50. Following the completion of the transaction, the director now directly owns 31,550 shares of the company’s stock, valued at $2,177,581. The disclosure for this purchase can be found here. 0.38% of the stock is owned by corporate 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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