Cullen Frost Bankers Inc. increased its stake in Schlumberger NV (NYSE:SLB) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 538,778 shares of the company’s stock after buying an additional 9,439 shares during the period. Schlumberger NV makes up approximately 1.6% of Cullen Frost Bankers Inc.’s portfolio, making the stock its 9th largest position. Cullen Frost Bankers Inc.’s holdings in Schlumberger NV were worth $42,606,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Bank of Montreal Can acquired a new position in Schlumberger NV during the second quarter worth $182,448,000. State Street Corp increased its position in Schlumberger NV by 2.6% in the first quarter. State Street Corp now owns 57,778,375 shares of the company’s stock worth $4,261,159,000 after buying an additional 1,485,126 shares during the period. NN Investment Partners Holdings N.V. acquired a new position in Schlumberger NV during the first quarter worth $46,113,000. Virginia Retirement System acquired a new position in Schlumberger NV during the first quarter worth $31,620,000. Finally, Loomis Sayles & Co. L P increased its position in Schlumberger NV by 6.4% in the first quarter. Loomis Sayles & Co. L P now owns 6,755,690 shares of the company’s stock worth $498,233,000 after buying an additional 408,901 shares during the period. 78.39% of the stock is owned by institutional investors.
Schlumberger NV (NYSE:SLB) traded down 0.31% on Wednesday, reaching $81.44. 4,059,726 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $78.67 and its 200 day moving average price is $78.02. The company’s market cap is $113.26 billion. Schlumberger NV has a 12 month low of $59.60 and a 12 month high of $83.97.
Schlumberger NV (NYSE:SLB) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates 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 had revenue of $7.16 billion for the quarter, compared to analysts’ expectations of $7.09 billion. On average, equities analysts expect that Schlumberger NV will post $1.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Wednesday, September 7th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Friday, September 2nd. Schlumberger NV’s payout ratio is currently -168.07%.
A number of research analysts have recently commented on SLB shares. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $94.00 price objective on shares of Schlumberger NV in a research report on Wednesday, June 15th. Vetr raised shares of Schlumberger NV from a “buy” rating to a “strong-buy” rating and set a $86.33 price objective for the company in a research report on Wednesday, June 15th. Simmons reissued an “outperform” rating and issued a $84.00 price objective (down previously from $86.00) on shares of Schlumberger NV in a research report on Monday, June 20th. Citigroup Inc. reissued a “buy” rating and issued a $89.00 price objective (down previously from $90.00) on shares of Schlumberger NV in a research report on Thursday, June 23rd. Finally, Zacks Investment Research raised shares of Schlumberger NV from a “strong sell” rating to a “hold” rating in a research report on Monday, June 27th. Four investment 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. The stock presently has an average rating of “Buy” and a consensus target price of $90.69.
In other Schlumberger NV news, CFO Simon Ayat sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $83.68, for a total transaction of $4,184,000.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Howard Guild sold 11,900 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $81.32, for a total transaction of $967,708.00. Following the transaction, the insider now owns 19,781 shares in the company, valued at $1,608,590.92. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
Schlumberger NV Company Profile
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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