Howard Capital Management Acquires 3,042 Shares of Schlumberger N.V. (SLB)
Howard Capital Management raised its position in Schlumberger N.V. (NYSE:SLB) by 1.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 174,328 shares of the oil and gas company’s stock after buying an additional 3,042 shares during the period. Schlumberger N.V. makes up 1.8% of Howard Capital Management’s holdings, making the stock its 27th largest position. Howard Capital Management’s holdings in Schlumberger N.V. were worth $11,478,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the company. Lincoln Capital Corp acquired a new stake in shares of Schlumberger N.V. during the fourth quarter worth $2,472,000. Pekin Singer Strauss Asset Management IL boosted its stake in shares of Schlumberger N.V. by 15.9% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 19,295 shares of the oil and gas company’s stock worth $1,620,000 after buying an additional 2,644 shares during the period. Wealthfront Inc. boosted its stake in shares of Schlumberger N.V. by 12.4% in the fourth quarter. Wealthfront Inc. now owns 36,038 shares of the oil and gas company’s stock worth $3,025,000 after buying an additional 3,978 shares during the period. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Schlumberger N.V. during the fourth quarter worth $160,000. Finally, Perigon Wealth Management LLC boosted its stake in shares of Schlumberger N.V. by 70.5% in the fourth quarter. Perigon Wealth Management LLC now owns 28,415 shares of the oil and gas company’s stock worth $2,293,000 after buying an additional 11,753 shares during the period. Institutional investors and hedge funds own 79.14% of the company’s stock.
Shares of Schlumberger N.V. (NYSE SLB) traded down 0.89% during mid-day trading on Friday, hitting $63.83. 4,627,489 shares of the stock were exchanged. The stock’s 50-day moving average price is $66.44 and its 200-day moving average price is $73.68. The company has a market cap of $88.37 billion, a P/E ratio of 502.60 and a beta of 1.02. Schlumberger N.V. has a 52-week low of $63.74 and a 52-week high of $87.84.
Schlumberger N.V. (NYSE:SLB) last posted its earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.05. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The firm had revenue of $7.46 billion during the quarter, compared to analysts’ expectations of $7.25 billion. During the same period in the previous year, the business posted $0.23 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. Equities research analysts anticipate that Schlumberger N.V. will post $1.51 earnings per share for the current fiscal 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 paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, September 1st. Schlumberger N.V.’s dividend payout ratio is currently 1,538.58%.
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SLB has been the topic of a number of recent analyst reports. Jefferies Group LLC reiterated an “equal weight” rating on shares of Schlumberger N.V. in a report on Friday, April 14th. Zacks Investment Research upgraded shares of Schlumberger N.V. from a “sell” rating to a “hold” rating in a report on Tuesday, April 18th. Deutsche Bank AG cut their price target on shares of Schlumberger N.V. from $101.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday, April 18th. HSBC Holdings plc initiated coverage on shares of Schlumberger N.V. in a report on Wednesday, April 19th. They set a “hold” rating and a $90.00 price target on the stock. Finally, SunTrust Banks, Inc. upgraded shares of Schlumberger N.V. from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a report on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. Schlumberger N.V. currently has an average rating of “Buy” and an average target price of $86.40.
In related news, President Aaron Gatt Floridia sold 40,000 shares of the business’s stock in a transaction 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 completion of the transaction, the president now directly owns 96,175 shares in the company, valued at approximately $6,652,424.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Tore I. Sandvold sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $69.82, for a total transaction of $349,100.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at $349,100. The disclosure for this sale can be found here. 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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