Oakbrook Investments LLC raised its stake in shares of Schlumberger N.V. (NYSE:SLB) by 57.6% during the second quarter, Holdings Channel reports. The institutional investor owned 395,860 shares of the oil and gas company’s stock after buying an additional 144,620 shares during the period. Schlumberger N.V. accounts for approximately 1.7% of Oakbrook Investments LLC’s portfolio, making the stock its 17th largest position. Oakbrook Investments LLC’s holdings in Schlumberger N.V. were worth $26,063,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of SLB. Wealth Architects LLC raised its stake in shares of Schlumberger N.V. by 0.3% in the first quarter. Wealth Architects LLC now owns 4,003 shares of the oil and gas company’s stock valued at $313,000 after buying an additional 13 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management raised its stake in shares of Schlumberger N.V. by 0.5% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 3,720 shares of the oil and gas company’s stock valued at $291,000 after buying an additional 18 shares in the last quarter. Syntal Capital Partners LLC raised its stake in shares of Schlumberger N.V. by 0.5% in the first quarter. Syntal Capital Partners LLC now owns 5,613 shares of the oil and gas company’s stock valued at $439,000 after buying an additional 29 shares in the last quarter. Family Legacy Inc. raised its stake in shares of Schlumberger N.V. by 0.9% in the second quarter. Family Legacy Inc. now owns 3,372 shares of the oil and gas company’s stock valued at $222,000 after buying an additional 30 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in shares of Schlumberger N.V. by 0.3% in the second quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 12,886 shares of the oil and gas company’s stock valued at $848,000 after buying an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 79.14% of the company’s stock.
Shares of Schlumberger N.V. (NYSE:SLB) traded down 0.14% on Thursday, reaching $65.40. 2,625,235 shares of the company were exchanged. The company has a market capitalization of $90.55 billion, a P/E ratio of 514.96 and a beta of 1.02. The stock has a 50 day moving average of $66.52 and a 200-day moving average of $73.90. Schlumberger N.V. has a 52-week low of $64.15 and a 52-week high of $87.84.
Schlumberger N.V. (NYSE:SLB) last posted its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.05. The company had revenue of $7.46 billion for the quarter, compared to the consensus estimate of $7.25 billion. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. Schlumberger N.V.’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 earnings per share. On average, analysts predict that Schlumberger N.V. will post $1.51 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Wednesday, September 6th will be paid 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 of this dividend is Friday, September 1st. Schlumberger N.V.’s dividend payout ratio is currently 1,538.58%.
Several analysts have recently commented on the company. Evercore ISI set a $93.00 price objective on Schlumberger N.V. and gave the company a “buy” rating in a report on Saturday, April 22nd. UBS AG set a $90.00 target price on Schlumberger N.V. and gave the company a “buy” rating in a research report on Friday, June 16th. Credit Suisse Group set a $78.00 target price on Schlumberger N.V. and gave the company a “buy” rating in a research report on Monday, July 24th. Jefferies Group LLC reissued a “buy” rating and issued a $80.00 target price (down from $92.00) on shares of Schlumberger N.V. in a research report on Monday, July 24th. Finally, Zacks Investment Research downgraded Schlumberger N.V. from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. Schlumberger N.V. has an average rating of “Buy” and an average target price of $86.40.
In other Schlumberger N.V. news, President Aaron Gatt Floridia sold 40,000 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $69.17, for a total transaction of $2,766,800.00. Following the transaction, the president now owns 96,175 shares of the company’s stock, valued at $6,652,424.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Helge Lund purchased 2,800 shares of the business’s stock in a transaction on Monday, July 24th. The shares were bought at an average cost of $66.78 per share, for a total transaction of $186,984.00. The disclosure for this purchase can be found here. Company insiders own 0.38% of the company’s stock.
Schlumberger N.V. Company Profile
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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