First Mercantile Trust Co. reduced its position in Schlumberger NV (NYSE:SLB) by 7.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,119 shares of the company’s stock after selling 3,780 shares during the period. First Mercantile Trust Co.’s holdings in Schlumberger NV were worth $3,885,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Alexandria Capital LLC increased its position in Schlumberger NV by 130.4% in the first quarter. Alexandria Capital LLC now owns 131,130 shares of the company’s stock worth $9,671,000 after buying an additional 74,228 shares in the last quarter. Mn Services Vermogensbeheer B.V. purchased a new stake in shares of Schlumberger NV during the first quarter valued at about $2,046,000. Aperio Group LLC increased its stake in shares of Schlumberger NV by 27.0% in the first quarter. Aperio Group LLC now owns 446,148 shares of the company’s stock valued at $32,903,000 after buying an additional 94,831 shares during the period. Sarasin & Partners LLP increased its stake in shares of Schlumberger NV by 18.2% in the first quarter. Sarasin & Partners LLP now owns 135,469 shares of the company’s stock valued at $9,991,000 after buying an additional 20,862 shares during the period. Finally, Commonwealth Equity Services Inc increased its stake in shares of Schlumberger NV by 3.6% in the first quarter. Commonwealth Equity Services Inc now owns 167,855 shares of the company’s stock valued at $12,379,000 after buying an additional 5,819 shares during the period. 78.39% of the stock is owned by hedge funds and other institutional investors.
Shares of Schlumberger NV (NYSE:SLB) opened at 81.69 on Wednesday. The company’s market capitalization is $113.61 billion. Schlumberger NV has a 1-year low of $59.60 and a 1-year high of $83.97. The firm has a 50-day moving average of $78.67 and a 200 day moving average of $78.02.
Schlumberger NV (NYSE:SLB) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company earned $7.16 billion during the quarter, compared to analysts’ expectations of $7.09 billion. On average, equities research analysts expect that Schlumberger NV will post $1.12 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.45%. Schlumberger NV’s dividend payout ratio (DPR) is -168.07%.
SLB has been the subject of several recent analyst reports. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $94.00 target price on shares of Schlumberger NV in a research note on Wednesday, June 15th. Citigroup Inc. reiterated a “buy” rating and issued a $89.00 target price (down from $90.00) on shares of Schlumberger NV in a research note on Thursday, June 23rd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Schlumberger NV in a research note on Thursday, June 30th. Credit Suisse Group AG reiterated a “buy” rating on shares of Schlumberger NV in a research note on Tuesday, June 28th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Schlumberger NV in a research note on Wednesday, July 13th. Four investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Schlumberger NV has an average rating of “Buy” and an average target price of $90.69.
In other news, Director Tore I. Sandvold sold 2,500 shares of the company’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $78.09, for a total value of $195,225.00. Following the completion of the sale, the director now owns 17,750 shares of the company’s stock, valued at approximately $1,386,097.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stephane Biguet sold 4,227 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $78.52, for a total transaction of $331,904.04. Following the completion of the sale, the vice president now directly owns 7,108 shares of the company’s stock, valued at approximately $558,120.16. The disclosure for this sale can be found here. 0.36% of the stock is currently 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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