Veritas Investment Management UK Ltd Sells 10,028 Shares of Schlumberger N.V. (SLB)
Veritas Investment Management UK Ltd cut its holdings in Schlumberger N.V. (NYSE:SLB) by 5.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 160,618 shares of the oil and gas company’s stock after selling 10,028 shares during the period. Schlumberger N.V. comprises approximately 4.1% of Veritas Investment Management UK Ltd’s investment portfolio, making the stock its 12th biggest holding. Veritas Investment Management UK Ltd’s holdings in Schlumberger N.V. were worth $10,575,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Valley National Advisers Inc. increased its holdings in Schlumberger N.V. by 0.3% during the second quarter. Valley National Advisers Inc. now owns 2,594 shares of the oil and gas company’s stock worth $171,000 after buying an additional 8 shares during the last quarter. Family Legacy Inc. increased its holdings in Schlumberger N.V. by 0.9% during the second quarter. Family Legacy Inc. now owns 3,372 shares of the oil and gas company’s stock worth $222,000 after buying an additional 30 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its holdings in Schlumberger N.V. by 0.3% during the second quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 12,886 shares of the oil and gas company’s stock worth $848,000 after buying an additional 36 shares during the last quarter. Delta Asset Management LLC TN increased its holdings in Schlumberger N.V. by 0.8% during the second quarter. Delta Asset Management LLC TN now owns 5,189 shares of the oil and gas company’s stock worth $342,000 after buying an additional 40 shares during the last quarter. Finally, Dynamic Advisors Solutions LLC increased its holdings in Schlumberger N.V. by 0.4% during the second quarter. Dynamic Advisors Solutions LLC now owns 10,609 shares of the oil and gas company’s stock worth $698,000 after buying an additional 46 shares during the last quarter. Institutional investors own 79.03% of the company’s stock.
A number of equities analysts recently weighed in on the stock. BidaskClub downgraded shares of Schlumberger N.V. from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. Jefferies Group LLC restated a “buy” rating and set a $80.00 target price on shares of Schlumberger N.V. in a report on Friday, September 29th. Loop Capital lowered their target price on shares of Schlumberger N.V. from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, October 26th. Royal Bank Of Canada set a $86.00 target price on shares of Schlumberger N.V. and gave the stock a “buy” rating in a report on Saturday, October 7th. Finally, SunTrust Banks, Inc. restated a “hold” rating on shares of Schlumberger N.V. in a report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $79.31.
In other news, Director Tore I. Sandvold sold 3,500 shares of the business’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 completion of the sale, the director now owns 1,500 shares of the company’s stock, valued at $93,945. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.
Schlumberger N.V. (NYSE SLB) traded down $0.21 during mid-day trading on Friday, reaching $61.93. 2,967,471 shares of the company’s 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 1 year low of $61.02 and a 1 year high of $87.84. The company has a market capitalization of $86,080.18, a PE ratio of 48.17, a price-to-earnings-growth ratio of 1.90 and a beta of 1.02.
Schlumberger N.V. (NYSE:SLB) last released its quarterly earnings data on Friday, October 20th. The oil and gas company reported $0.42 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.42. Schlumberger N.V. had a net margin of 1.86% and a return on equity of 4.42%. The firm had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $7.91 billion. During the same period in the previous year, the business posted $0.25 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. research analysts expect that Schlumberger N.V. will post 1.47 EPS for the current fiscal year.
The firm also recently announced 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 is Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.23%. Schlumberger N.V.’s payout ratio is presently 512.83%.
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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