Traders Sell Schlumberger N.V. (SLB) on Strength on Analyst Downgrade

Investors sold shares of Schlumberger N.V. (NYSE:SLB) on strength during trading hours on Tuesday after J P Morgan Chase & Co lowered their price target on the stock from $79.00 to $76.00. $49.67 million flowed into the stock on the tick-up and $82.50 million flowed out of the stock on the tick-down, for a money net flow of $32.83 million out of the stock. Of all stocks tracked, Schlumberger N.V. had the 0th highest net out-flow for the day. Schlumberger N.V. traded up $0.66 for the day and closed at $66.43

A number of other brokerages also recently weighed in on SLB. Bank of America Corporation lowered their target price on shares of Schlumberger N.V. from $70.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, May 30th. BidaskClub raised shares of Schlumberger N.V. from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. UBS AG set a $90.00 target price on shares of Schlumberger N.V. and gave the stock a “buy” rating in a research note on Friday, June 16th. Zacks Investment Research raised shares of Schlumberger N.V. from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Finally, HSBC Holdings plc reaffirmed a “neutral” rating and issued a $80.00 price target (down from $86.00) on shares of Schlumberger N.V. in a research note on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. Schlumberger N.V. presently has a consensus rating of “Buy” and an average target price of $85.80.

In related news, Director Michael E. Marks bought 8,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $64.20 per share, for a total transaction of $513,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Helge Lund bought 2,800 shares of the company’s stock in a transaction on Monday, July 24th. The stock was bought at an average price of $66.78 per share, for a total transaction of $186,984.00. The disclosure for this purchase can be found here. 0.38% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Valley National Advisers Inc. boosted its stake in Schlumberger N.V. by 0.3% in the second quarter. Valley National Advisers Inc. now owns 2,594 shares of the oil and gas company’s stock valued at $171,000 after acquiring an additional 8 shares during the last quarter. Wealth Architects LLC boosted its stake in 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 acquiring an additional 13 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management boosted its stake in 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 acquiring an additional 18 shares during the last quarter. Syntal Capital Partners LLC boosted its stake in 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 acquiring an additional 29 shares during the last quarter. Finally, Family Legacy Inc. boosted its stake in 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 acquiring an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 78.99% of the company’s stock.

The firm’s 50-day moving average price is $65.23 and its 200-day moving average price is $70.89. The company has a market cap of $91.97 billion, a PE ratio of 523.07 and a beta of 1.03.

Schlumberger N.V. (NYSE:SLB) last announced its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The firm 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%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 EPS. On average, equities analysts anticipate that Schlumberger N.V. will post $1.51 EPS for the current year.

The business also recently declared 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 3.01%. The ex-dividend date is Friday, September 1st. Schlumberger N.V.’s payout ratio is presently 1,538.58%.

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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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