Driehaus Capital Management LLC acquired a new stake in shares of Schlumberger N.V. (NYSE:SLB) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 268,071 shares of the oil and gas company’s stock, valued at approximately $20,936,000. Schlumberger N.V. accounts for approximately 0.7% of Driehaus Capital Management LLC’s holdings, making the stock its 26th largest holding.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its stake in shares of Schlumberger N.V. by 1.1% during the 1st quarter. State Street Corp now owns 72,400,230 shares of the oil and gas company’s stock valued at $5,655,994,000 after buying an additional 769,874 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Schlumberger N.V. by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 26,666,760 shares of the oil and gas company’s stock valued at $2,082,673,000 after buying an additional 477,006 shares during the period. American Century Companies Inc. grew its stake in shares of Schlumberger N.V. by 30.8% during the 1st 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 period. First Eagle Investment Management LLC grew its stake in shares of Schlumberger N.V. by 71.4% during the 1st 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 period. Finally, Legal & General Group Plc grew its stake in shares of Schlumberger N.V. by 4.2% during the 1st quarter. Legal & General Group Plc now owns 6,715,534 shares of the oil and gas company’s stock valued at $524,469,000 after buying an additional 273,522 shares during the period. 78.99% of the stock is owned by institutional investors.
Several analysts have recently issued reports on SLB shares. Jefferies Group LLC set a $80.00 price objective on shares of Schlumberger N.V. and gave the company a “buy” rating in a research note on Friday, August 25th. BidaskClub cut shares of Schlumberger N.V. from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Wells Fargo & Company reissued an “outperform” rating on shares of Schlumberger N.V. in a research note on Monday, July 10th. Barclays PLC cut shares of Schlumberger N.V. from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $98.00 to $73.00 in a research note on Wednesday, June 21st. Finally, Sanford C. Bernstein raised shares of Schlumberger N.V. from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $94.00 to $80.00 in a research note on Thursday, July 6th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $85.80.
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Shares of Schlumberger N.V. (NYSE SLB) traded up 0.9802% during midday trading on Tuesday, hitting $66.4147. 2,529,634 shares of the company were exchanged. The stock has a market cap of $91.95 billion, a PE ratio of 522.9504 and a beta of 1.03. The stock’s 50-day moving average is $65.22 and its 200-day moving average is $70.93. Schlumberger N.V. has a one year low of $62.56 and a one year high of $87.84.
Schlumberger N.V. (NYSE:SLB) last released its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The company had revenue of $7.46 billion during 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%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $0.23 EPS. Equities research analysts anticipate that Schlumberger N.V. will post $1.51 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Wednesday, September 6th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, September 1st. Schlumberger N.V.’s payout ratio is 1,538.58%.
In other news, Director Helge Lund purchased 2,800 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average cost of $66.78 per share, with a total value of $186,984.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael E. Marks purchased 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average cost of $64.20 per share, with a total value of $513,600.00. The disclosure for this purchase can be found here. 0.38% of the stock is currently owned by company insiders.
Schlumberger N.V. 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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