BlackRock Advisors LLC lowered its stake in Schlumberger NV (NYSE:SLB) by 12.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,772,042 shares of the company’s stock after selling 651,098 shares during the period. BlackRock Advisors LLC owned about 0.34% of Schlumberger NV worth $377,373,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. M&R Capital Management Inc. increased its position in shares of Schlumberger NV by 27.1% in the second quarter. M&R Capital Management Inc. now owns 39,905 shares of the company’s stock valued at $2,538,000 after buying an additional 8,498 shares in the last quarter. Westbourne Investment Advisors Inc. acquired a new position in shares of Schlumberger NV during the second quarter valued at about $212,000. Cornerstone Advisory LLP increased its position in shares of Schlumberger NV by 1.7% in the second quarter. Cornerstone Advisory LLP now owns 3,877 shares of the company’s stock valued at $307,000 after buying an additional 66 shares in the last quarter. HighPoint Advisor Group LLC increased its position in shares of Schlumberger NV by 60.7% in the second quarter. HighPoint Advisor Group LLC now owns 7,180 shares of the company’s stock valued at $588,000 after buying an additional 2,711 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Schlumberger NV by 2,232.0% in the second quarter. Tower Research Capital LLC TRC now owns 8,302 shares of the company’s stock valued at $656,000 after buying an additional 7,946 shares in the last quarter. Institutional investors and hedge funds own 78.39% of the company’s stock.
Shares of Schlumberger NV (NYSE:SLB) opened at 81.44 on Thursday. Schlumberger NV has a 52 week low of $59.60 and a 52 week high of $83.97. The stock’s market capitalization is $113.26 billion. The company has a 50-day moving average of $78.66 and a 200-day moving average of $78.04.
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, topping the 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 firm earned $7.16 billion during the quarter, compared to analysts’ expectations of $7.09 billion. On average, analysts anticipate that Schlumberger NV will post $1.12 EPS for the current year.
The company 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. This represents a $2.00 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Friday, September 2nd. Schlumberger NV’s payout ratio is -168.07%.
Several brokerages have recently issued reports on SLB. Citigroup Inc. boosted their price objective on Schlumberger NV from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Tuesday. Loop Capital began coverage on Schlumberger NV in a report on Friday, September 30th. They set a “buy” rating and a $90.00 target price on the stock. Guggenheim reissued a “buy” rating on shares of Schlumberger NV in a report on Wednesday, August 31st. Seaport Global Securities reissued a “buy” rating on shares of Schlumberger NV in a report on Friday, August 19th. Finally, Nomura set a $91.00 target price on Schlumberger NV and gave the stock a “buy” rating in a report on Tuesday, August 16th. 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’s stock. Schlumberger NV currently has an average rating of “Buy” and a consensus target price of $90.69.
In related news, insider Howard Guild sold 11,900 shares of Schlumberger NV stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $81.32, for a total transaction of $967,708.00. Following the completion of the transaction, the insider now directly owns 19,781 shares in the company, valued at $1,608,590.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Simon Ayat sold 50,000 shares of Schlumberger NV stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $83.68, for a total value of $4,184,000.00. Following the transaction, the chief financial officer now owns 153,335 shares of the company’s stock, valued at $12,831,072.80. The disclosure for this sale can be found here. 0.36% of the stock is owned by insiders.
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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