Schlumberger N.V. (SLB) Position Raised by HGK Asset Management Inc.
HGK Asset Management Inc. boosted its position in shares of Schlumberger N.V. (NYSE:SLB) by 3.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 5,535 shares of the oil and gas company’s stock after buying an additional 195 shares during the period. HGK Asset Management Inc.’s holdings in Schlumberger N.V. were worth $432,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. National Pension Service boosted its stake in Schlumberger N.V. by 4.5% in the first quarter. National Pension Service now owns 964,626 shares of the oil and gas company’s stock worth $75,086,000 after buying an additional 41,903 shares during the last quarter. First United Bank Trust boosted its stake in Schlumberger N.V. by 9.8% in the first quarter. First United Bank Trust now owns 13,135 shares of the oil and gas company’s stock worth $1,026,000 after buying an additional 1,175 shares during the last quarter. Jolley Asset Management LLC boosted its stake in Schlumberger N.V. by 10.0% in the first quarter. Jolley Asset Management LLC now owns 44,249 shares of the oil and gas company’s stock worth $3,456,000 after buying an additional 4,037 shares during the last quarter. Hartford Financial Management Inc. boosted its stake in Schlumberger N.V. by 23.0% in the first quarter. Hartford Financial Management Inc. now owns 3,631 shares of the oil and gas company’s stock worth $283,000 after buying an additional 680 shares during the last quarter. Finally, Bollard Group LLC boosted its stake in Schlumberger N.V. by 10.3% in the first quarter. Bollard Group LLC now owns 16,134 shares of the oil and gas company’s stock worth $1,260,000 after buying an additional 1,504 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.
Schlumberger N.V. (NYSE SLB) traded down 0.28% on Wednesday, hitting $63.32. 862,428 shares of the stock were exchanged. Schlumberger N.V. has a 12 month low of $62.56 and a 12 month high of $87.84. The company has a 50-day moving average of $65.77 and a 200-day moving average of $72.24. The stock has a market cap of $87.67 billion, a price-to-earnings ratio of 498.58 and a beta of 1.02.
Schlumberger N.V. (NYSE:SLB) last posted its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The company had revenue of $7.46 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same period last year, the firm posted $0.23 EPS. Schlumberger N.V.’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts predict that Schlumberger N.V. will post $1.51 EPS for the current 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 given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Friday, September 1st. Schlumberger N.V.’s dividend payout ratio is presently 1,538.58%.
A number of research firms have weighed in on SLB. Jefferies Group LLC set a $80.00 target price on shares of Schlumberger N.V. and gave the stock a “buy” rating in a research note on Friday, August 25th. Argus began coverage on shares of Schlumberger N.V. in a research note on Monday, August 21st. They set a “buy” rating on the stock. BidaskClub cut shares of Schlumberger N.V. from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Zacks Investment Research cut shares of Schlumberger N.V. from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Loop Capital decreased their target price on shares of Schlumberger N.V. from $93.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. Schlumberger N.V. has an average rating of “Buy” and an average target price of $86.21.
In other Schlumberger N.V. news, Director Helge Lund purchased 2,800 shares of Schlumberger N.V. stock in a transaction on Monday, July 24th. The stock was bought at an average cost of $66.78 per share, with a total value of $186,984.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael E. Marks purchased 8,000 shares of Schlumberger N.V. stock in a transaction on Friday, August 11th. The shares were acquired at an average cost of $64.20 per share, with a total value of $513,600.00. The disclosure for this purchase can be found here. Company insiders own 0.38% of the company’s stock.
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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