Schlumberger N.V. (SLB) Position Trimmed by Reliant Investment Management LLC
Reliant Investment Management LLC trimmed its position in shares of Schlumberger N.V. (NYSE:SLB) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,508 shares of the oil and gas company’s stock after selling 895 shares during the period. Reliant Investment Management LLC’s holdings in Schlumberger were worth $2,667,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Schlumberger by 1.1% during the 1st quarter. State Street Corp now owns 72,400,230 shares of the oil and gas company’s stock valued at $5,655,994,000 after purchasing an additional 769,874 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Schlumberger by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 26,666,760 shares of the oil and gas company’s stock valued at $2,082,673,000 after purchasing an additional 477,006 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in Schlumberger by 103.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 16,025,764 shares of the oil and gas company’s stock valued at $1,055,136,000 after purchasing an additional 8,167,945 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Schlumberger by 5.7% during the 1st quarter. Clearbridge Investments LLC now owns 12,214,777 shares of the oil and gas company’s stock valued at $953,974,000 after purchasing an additional 655,694 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Schlumberger by 33.5% during the 2nd quarter. American Century Companies Inc. now owns 11,117,713 shares of the oil and gas company’s stock valued at $731,990,000 after purchasing an additional 2,791,675 shares in the last quarter. 79.03% of the stock is owned by institutional investors and hedge funds.
Schlumberger N.V. (SLB) traded down $0.21 during trading on Friday, hitting $61.93. 2,970,000 shares of the stock were exchanged, compared to its average volume of 8,354,363. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.53. Schlumberger N.V. has a one year low of $61.02 and a one year high of $87.84. The company has a market cap of $85,789.27, a P/E ratio of 48.01, a P/E/G ratio of 1.89 and a beta of 1.02.
Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.42. Schlumberger had a net margin of 1.86% and a return on equity of 4.42%. The company had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $7.91 billion. During the same period last year, the firm posted $0.25 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. equities analysts expect that Schlumberger N.V. will post 1.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Wednesday, December 6th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.23%. Schlumberger’s payout ratio is currently 512.83%.
In other news, Director Tore I. Sandvold sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total value of $219,205.00. Following the transaction, the director now directly owns 1,500 shares in the company, valued at approximately $93,945. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.38% of the company’s stock.
A number of research firms recently weighed in on SLB. BidaskClub raised shares of Schlumberger from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Argus began coverage on shares of Schlumberger in a research note on Monday, August 21st. They set a “buy” rating on the stock. Barclays PLC set a $70.00 price objective on shares of Schlumberger and gave the company a “hold” rating in a research note on Wednesday, October 25th. SunTrust Banks, Inc. reiterated a “hold” rating on shares of Schlumberger in a research note on Tuesday, October 31st. Finally, Citigroup Inc. increased their price objective on shares of Schlumberger from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $79.31.
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.
Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger N.V. (NYSE:SLB).
Receive News & Ratings for Schlumberger N.V. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger N.V. and related companies with Analyst Ratings Network's FREE daily email newsletter.