Traders Buy Shares of Schlumberger N.V. (SLB) on Weakness
Investors bought shares of Schlumberger N.V. (NYSE:SLB) on weakness during trading hours on Tuesday. $118.71 million flowed into the stock on the tick-up and $89.93 million flowed out of the stock on the tick-down, for a money net flow of $28.78 million into the stock. Of all equities tracked, Schlumberger N.V. had the 14th highest net in-flow for the day. Schlumberger N.V. traded down ($0.51) for the day and closed at $63.44
A number of equities analysts have recently commented on the stock. Barclays PLC reaffirmed an “overweight” rating and set a $107.00 target price on shares of Schlumberger N.V. in a research report on Monday, April 24th. BidaskClub lowered shares of Schlumberger N.V. from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Schlumberger N.V. in a research report on Monday, July 10th. Guggenheim lowered shares of Schlumberger N.V. from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 27th. Finally, Sanford C. Bernstein raised shares of Schlumberger N.V. from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $94.00 to $80.00 in a research report on Thursday, July 6th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $86.40.
The company has a market capitalization of $87.83 billion, a price-to-earnings ratio of 499.53 and a beta of 1.02. The company has a 50 day moving average of $66.32 and a 200-day moving average of $73.22.
Schlumberger N.V. (NYSE:SLB) last announced its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the prior year, the firm posted $0.23 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Analysts predict that Schlumberger N.V. will post $1.51 EPS for the current fiscal year.
The business 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 $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, September 1st. Schlumberger N.V.’s payout ratio is 1,538.58%.
In other news, President Aaron Gatt Floridia sold 40,000 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $69.17, for a total value of $2,766,800.00. Following the completion of the transaction, the president now owns 96,175 shares in the company, valued at approximately $6,652,424.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael E. Marks bought 8,000 shares of the stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $64.20 per share, with a total value of $513,600.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 14,425 shares of company stock valued at $950,782. Company insiders own 0.38% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Swarthmore Group Inc. boosted its position in shares of Schlumberger N.V. by 416.6% in the first quarter. Swarthmore Group Inc. now owns 190,125 shares of the oil and gas company’s stock valued at $14,849,000 after buying an additional 153,325 shares during the last quarter. Curbstone Financial Management Corp boosted its position in shares of Schlumberger N.V. by 6.1% in the first quarter. Curbstone Financial Management Corp now owns 16,142 shares of the oil and gas company’s stock valued at $1,261,000 after buying an additional 932 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of Schlumberger N.V. by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,478,512 shares of the oil and gas company’s stock valued at $115,473,000 after buying an additional 45,940 shares during the last quarter. Moreno Evelyn V boosted its position in shares of Schlumberger N.V. by 13.7% in the first quarter. Moreno Evelyn V now owns 94,720 shares of the oil and gas company’s stock valued at $7,398,000 after buying an additional 11,380 shares during the last quarter. Finally, Rosenbaum Jay D. boosted its position in shares of Schlumberger N.V. by 5.5% in the first quarter. Rosenbaum Jay D. now owns 16,930 shares of the oil and gas company’s stock valued at $1,323,000 after buying an additional 875 shares during the last quarter. Institutional investors and hedge funds own 79.65% of the company’s stock.
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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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