Teachers Retirement System of The State of Kentucky Sells 30,336 Shares of Schlumberger N.V. (SLB)
Teachers Retirement System of The State of Kentucky reduced its position in Schlumberger N.V. (NYSE:SLB) by 8.7% during the first quarter, Holdings Channel reports. The institutional investor owned 318,471 shares of the oil and gas company’s stock after selling 30,336 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Schlumberger N.V. were worth $24,873,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in SLB. Tradewinds Capital Management LLC increased its stake in shares of 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 valued at $104,000 after buying an additional 307 shares during the period. American Research & Management Co. increased its stake in shares of 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 valued at $106,000 after buying an additional 106 shares during the period. MCF Advisors LLC increased its stake in shares of 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 valued at $126,000 after buying an additional 915 shares during the period. Baystate Wealth Management LLC increased its stake in shares of 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 valued at $191,000 after buying an additional 520 shares during the period. Finally, Point View Wealth Management Inc. increased its stake in shares of Schlumberger N.V. by 6.6% in the first quarter. Point View Wealth Management Inc. now owns 2,574 shares of the oil and gas company’s stock valued at $201,000 after buying an additional 160 shares during the period. 79.65% of the stock is currently owned by hedge funds and other institutional investors.
Schlumberger N.V. (NYSE SLB) traded up 0.41% on Wednesday, reaching $63.70. 1,965,502 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $66.32 and a 200-day moving average price of $73.22. Schlumberger N.V. has a 52 week low of $63.03 and a 52 week high of $87.84. The stock has a market capitalization of $88.19 billion, a price-to-earnings ratio of 501.57 and a beta of 1.02.
Schlumberger N.V. (NYSE:SLB) last issued its earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The company had revenue of $7.46 billion during the quarter, compared to analysts’ expectations of $7.25 billion. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 EPS. On average, analysts predict that Schlumberger N.V. will post $1.51 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Wednesday, September 6th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.15%. The ex-dividend date is Friday, September 1st. Schlumberger N.V.’s payout ratio is currently 1,538.58%.
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SLB has been the topic of several recent analyst reports. Barclays PLC reissued an “overweight” rating and set a $107.00 price objective on shares of Schlumberger N.V. in a research report on Monday, April 24th. Morgan Stanley increased their price objective on shares of Schlumberger N.V. from $90.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 21st. Zacks Investment Research downgraded shares of Schlumberger N.V. from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Jefferies Group LLC reissued a “buy” rating and set a $92.00 price objective on shares of Schlumberger N.V. in a research report on Friday, June 30th. 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 research report on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $86.40.
In related news, Director Peter L. S. Currie bought 3,625 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was bought at an average cost of $69.02 per share, for a total transaction of $250,197.50. Following the acquisition, the director now directly owns 31,550 shares in the company, valued at $2,177,581. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Tore I. Sandvold sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $69.82, for a total value of $349,100.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at $349,100. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 14,425 shares of company stock valued at $950,782. 0.38% of the stock is 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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