Allen Investment Management LLC reduced its stake in shares of Schlumberger N.V. (NYSE:SLB) by 2.8% during the first quarter, Holdings Channel reports. The fund owned 912,923 shares of the oil and gas company’s stock after selling 26,422 shares during the period. Schlumberger N.V. accounts for 4.3% of Allen Investment Management LLC’s investment portfolio, making the stock its 10th largest position. Allen Investment Management LLC’s holdings in Schlumberger N.V. were worth $71,299,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Dodge & Cox bought a new position in shares of Schlumberger N.V. during the fourth quarter valued at about $3,954,205,000. Norges Bank acquired a new stake in Schlumberger N.V. during the fourth quarter valued at $1,178,888,000. First Eagle Investment Management LLC boosted its stake in Schlumberger N.V. by 71.4% in the first quarter. First Eagle Investment Management LLC now owns 7,857,819 shares of the oil and gas company’s stock valued at $613,696,000 after buying an additional 3,272,127 shares during the last quarter. American Century Companies Inc. boosted its stake in Schlumberger N.V. by 30.8% in the first quarter. American Century Companies Inc. now owns 8,326,038 shares of the oil and gas company’s stock valued at $650,264,000 after buying an additional 1,959,214 shares during the last quarter. Finally, Pioneer Investment Management Inc. boosted its stake in Schlumberger N.V. by 52.7% in the first quarter. Pioneer Investment Management Inc. now owns 4,514,640 shares of the oil and gas company’s stock valued at $352,594,000 after buying an additional 1,557,982 shares during the last quarter. Institutional investors and hedge funds own 79.14% of the company’s stock.
Schlumberger N.V. (SLB) traded up 0.03% on Thursday, reaching $65.51. The company’s stock had a trading volume of 792,224 shares. Schlumberger N.V. has a 52 week low of $64.15 and a 52 week high of $87.84. The stock’s 50 day moving average is $66.52 and its 200-day moving average is $73.90. The firm has a market capitalization of $90.70 billion, a PE ratio of 515.83 and a beta of 1.02.
Schlumberger N.V. (NYSE:SLB) last released its earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. The business had revenue of $7.46 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same period last year, the business earned $0.23 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Analysts predict that Schlumberger N.V. will post $1.51 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Wednesday, September 6th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Friday, September 1st. Schlumberger N.V.’s dividend payout ratio (DPR) is presently 1,538.58%.
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SLB has been the subject of several recent analyst reports. Jefferies Group LLC restated an “equal weight” rating on shares of Schlumberger N.V. in a research note on Friday, April 14th. Zacks Investment Research upgraded Schlumberger N.V. from a “sell” rating to a “hold” rating in a research note on Tuesday, April 18th. Deutsche Bank AG decreased their target price on Schlumberger N.V. from $101.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday, April 18th. HSBC Holdings plc initiated coverage on Schlumberger N.V. in a research note on Wednesday, April 19th. They set a “hold” rating and a $90.00 target price for the company. Finally, SunTrust Banks, Inc. upgraded Schlumberger N.V. from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research note on Thursday, April 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. Schlumberger N.V. currently has a consensus rating of “Buy” and a consensus price target of $86.40.
In related news, Director Helge Lund acquired 2,800 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were bought at an average cost of $66.78 per share, with a total value of $186,984.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Aaron Gatt Floridia sold 40,000 shares of Schlumberger N.V. stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $69.17, for a total value of $2,766,800.00. Following the sale, the president now directly owns 96,175 shares in the company, valued at $6,652,424.75. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.
About Schlumberger N.V.
Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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