Bourne Lent Asset Management Inc. reduced its stake in shares of Schlumberger NV (NYSE:SLB) by 1.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,550 shares of the company’s stock after selling 100 shares during the period. Bourne Lent Asset Management Inc.’s holdings in Schlumberger NV were worth $439,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of SLB. Green Square Capital LLC purchased a new position in shares of Schlumberger NV during the second quarter valued at about $219,000. PGGM Investments boosted its position in shares of Schlumberger NV by 37.7% in the second quarter. PGGM Investments now owns 414,592 shares of the company’s stock valued at $32,786,000 after buying an additional 113,523 shares during the period. Genesee Valley Trust Co. boosted its position in shares of Schlumberger NV by 27.9% in the second quarter. Genesee Valley Trust Co. now owns 21,773 shares of the company’s stock valued at $1,722,000 after buying an additional 4,744 shares during the period. Deltec Asset Management LLC boosted its position in shares of Schlumberger NV by 125.1% in the second quarter. Deltec Asset Management LLC now owns 36,347 shares of the company’s stock valued at $2,874,000 after buying an additional 20,200 shares during the period. Finally, Seaward Management Limited Partnership boosted its position in shares of Schlumberger NV by 3.1% in the second quarter. Seaward Management Limited Partnership now owns 431,150 shares of the company’s stock valued at $34,095,000 after buying an additional 12,951 shares during the period. Hedge funds and other institutional investors own 78.39% of the company’s stock.
Shares of Schlumberger NV (NYSE:SLB) traded down 0.78% on Tuesday, hitting $81.69. The stock had a trading volume of 5,057,110 shares. The firm’s market capitalization is $113.61 billion. Schlumberger NV has a 12-month low of $59.60 and a 12-month high of $83.97. The company has a 50 day moving average of $78.68 and a 200-day moving average of $77.99.
Schlumberger NV (NYSE:SLB) last issued its earnings results on Thursday, July 21st. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. Schlumberger NV had a negative net margin of 5.64% and a positive return on equity of 6.88%. The business earned $7.16 billion during the quarter, compared to the consensus estimate of $7.09 billion. Equities analysts predict that Schlumberger NV will post $1.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Wednesday, September 7th will be paid a $0.50 dividend. The ex-dividend date is Friday, September 2nd. This represents a $2.00 annualized dividend and a yield of 2.45%. Schlumberger NV’s dividend payout ratio (DPR) is currently -168.07%.
Several brokerages have recently issued reports on SLB. Citigroup Inc. lifted their price target on Schlumberger NV from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Schlumberger NV in a research report on Friday, July 22nd. BMO Capital Markets reiterated a “buy” rating on shares of Schlumberger NV in a research report on Wednesday, July 13th. Jefferies Group reiterated a “hold” rating and set a $85.00 price target (up from $80.00) on shares of Schlumberger NV in a research report on Monday, July 11th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and set a $94.00 price target on shares of Schlumberger NV in a research report on Wednesday, June 15th. Four research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $90.69.
In other Schlumberger NV news, insider Howard Guild sold 11,900 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $81.32, for a total value of $967,708.00. Following the transaction, the insider now directly owns 19,781 shares of the company’s stock, valued at approximately $1,608,590.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert Scott Rowe sold 8,001 shares of the stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $80.65, for a total transaction of $645,280.65. Following the completion of the transaction, the insider now directly owns 21,307 shares in the company, valued at $1,718,409.55. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by corporate 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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