Veritas Investment Management UK Ltd increased its position in shares of Schlumberger NV (NYSE:SLB) by 15.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,801 shares of the company’s stock after buying an additional 19,805 shares during the period. Schlumberger NV makes up approximately 5.3% of Veritas Investment Management UK Ltd’s portfolio, making the stock its 9th largest position. Veritas Investment Management UK Ltd’s holdings in Schlumberger NV were worth $11,530,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the stock. Proficio Capital Partners LLC increased its stake in shares of Schlumberger NV by 78.3% in the second quarter. Proficio Capital Partners LLC now owns 1,426 shares of the company’s stock worth $113,000 after buying an additional 626 shares during the last quarter. New Harbor Financial Group LLC raised its stake in Schlumberger NV by 50.0% in the second quarter. New Harbor Financial Group LLC now owns 1,500 shares of the company’s stock worth $118,000 after buying an additional 500 shares in the last quarter. Trust Department MB Financial Bank N A raised its stake in Schlumberger NV by 9.6% in the second quarter. Trust Department MB Financial Bank N A now owns 1,753 shares of the company’s stock worth $139,000 after buying an additional 153 shares in the last quarter. North Star Investment Management Corp. raised its stake in Schlumberger NV by 23.6% in the second quarter. North Star Investment Management Corp. now owns 1,830 shares of the company’s stock worth $145,000 after buying an additional 350 shares in the last quarter. Finally, Financial Management Professionals Inc. raised its stake in Schlumberger NV by 3.3% in the second quarter. Financial Management Professionals Inc. now owns 1,874 shares of the company’s stock worth $147,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 78.39% of the company’s stock.
Schlumberger NV (NYSE:SLB) traded up 1.68% during mid-day trading on Wednesday, hitting $79.86. The stock had a trading volume of 1,125,983 shares. The company’s market cap is $111.06 billion. Schlumberger NV has a 12 month low of $59.60 and a 12 month high of $83.97. The firm’s 50-day moving average is $78.85 and its 200 day moving average is $77.76.
Schlumberger NV (NYSE:SLB) last posted its earnings results on Thursday, July 21st. The company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. Schlumberger NV had a positive return on equity of 6.88% and a negative net margin of 5.64%. The company had revenue of $7.16 billion for the quarter, compared to analyst estimates of $7.09 billion. Equities analysts anticipate that Schlumberger NV will post $1.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Wednesday, September 7th will be issued a $0.50 dividend. The ex-dividend date is Friday, September 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.55%. Schlumberger NV’s dividend payout ratio is presently -168.07%.
A number of analysts have commented on the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Schlumberger NV in a research note on Friday, July 22nd. BMO Capital Markets reiterated a “buy” rating on shares of Schlumberger NV in a report on Wednesday, July 13th. Jefferies Group reiterated a “hold” rating and issued a $85.00 target price (up previously from $80.00) on shares of Schlumberger NV in a report on Monday, July 11th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $94.00 target price on shares of Schlumberger NV in a report on Wednesday, June 15th. Finally, Societe Generale upgraded Schlumberger NV from a “hold” rating to a “buy” rating and upped their target price for the company from $86.00 to $91.00 in a report on Monday, July 18th. Four analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Schlumberger NV presently has a consensus rating of “Buy” and an average price target of $90.59.
In related news, CFO Simon Ayat sold 50,000 shares of Schlumberger NV stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $83.68, for a total transaction of $4,184,000.00. Following the sale, the chief financial officer now directly owns 153,335 shares in the company, valued at $12,831,072.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael E. Marks sold 13,600 shares of Schlumberger NV stock in a transaction on Monday, August 29th. The stock was sold at an average price of $81.19, for a total value of $1,104,184.00. The disclosure for this sale can be found here. 0.36% of the stock is owned by insiders.
About Schlumberger NV
Schlumberger N.V. is a supplier of technology, integrated project management and information solutions to the international oil and gas exploration and production industry. The Company operates in the oilfield service markets through three groups: Reservoir Characterization, Drilling and Production. Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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