Schlumberger N.V. (SLB) Position Raised by Main Street Research LLC
Main Street Research LLC raised its position in shares of Schlumberger N.V. (NYSE:SLB) by 1.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 119,168 shares of the oil and gas company’s stock after buying an additional 2,155 shares during the period. Schlumberger N.V. comprises 1.6% of Main Street Research LLC’s investment portfolio, making the stock its 28th largest position. Main Street Research LLC’s holdings in Schlumberger N.V. were worth $9,307,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of SLB. Tradewinds Capital Management LLC boosted its stake in Schlumberger N.V. by 29.8% in the first quarter. Tradewinds Capital Management LLC now owns 1,338 shares of the oil and gas company’s stock worth $104,000 after buying an additional 307 shares during the period. American Research & Management Co. boosted its stake in Schlumberger N.V. by 8.5% in the first quarter. American Research & Management Co. now owns 1,356 shares of the oil and gas company’s stock worth $106,000 after buying an additional 106 shares during the period. MCF Advisors LLC boosted its stake in Schlumberger N.V. by 130.3% in the first quarter. MCF Advisors LLC now owns 1,617 shares of the oil and gas company’s stock worth $126,000 after buying an additional 915 shares during the period. Baystate Wealth Management LLC boosted its stake in Schlumberger N.V. by 27.6% in the first quarter. Baystate Wealth Management LLC now owns 2,402 shares of the oil and gas company’s stock worth $191,000 after buying an additional 520 shares during the period. Finally, Point View Wealth Management Inc. boosted its stake in Schlumberger N.V. by 6.6% in the first quarter. Point View Wealth Management Inc. now owns 2,574 shares of the oil and gas company’s stock worth $201,000 after buying an additional 160 shares during the period. Institutional investors and hedge funds own 78.98% of the company’s stock.
Schlumberger N.V. (NYSE:SLB) traded down 1.041% during midday trading on Monday, hitting $63.215. The company had a trading volume of 1,469,161 shares. The stock has a 50 day moving average of $65.77 and a 200 day moving average of $72.24. Schlumberger N.V. has a 52-week low of $62.56 and a 52-week high of $87.84. The firm has a market cap of $87.52 billion, a price-to-earnings ratio of 497.756 and a beta of 1.02. Schlumberger N.V. also was the recipient of unusually large options trading activity on Friday. Stock investors purchased 6,824 call options on the company. This represents an increase of 137% compared to the typical volume of 2,885 call options.
Schlumberger N.V. (NYSE:SLB) last issued its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.05. The firm had revenue of $7.46 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. On average, 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. Investors of record on Wednesday, September 6th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Friday, September 1st. Schlumberger N.V.’s dividend payout ratio is presently 1,538.58%.
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SLB has been the subject of a number of recent analyst reports. Jefferies Group LLC restated a “buy” rating and issued a $92.00 price objective on shares of Schlumberger N.V. in a research report on Friday, June 30th. BMO Capital Markets reiterated a “buy” rating and set a $89.00 price target on shares of Schlumberger N.V. in a research report on Thursday, June 22nd. UBS AG set a $90.00 price target on Schlumberger N.V. and gave the stock a “buy” rating in a research report on Friday, June 16th. Scotiabank set a $90.00 price target on Schlumberger N.V. and gave the stock a “buy” rating in a research report on Friday, July 7th. Finally, Credit Suisse Group set a $78.00 price target on Schlumberger N.V. and gave the stock a “buy” rating in a research report on Monday, July 24th. 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 $86.21.
In other news, Director Michael E. Marks purchased 8,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was bought at an average cost of $64.20 per share, for a total transaction of $513,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Helge Lund purchased 2,800 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were purchased at an average price of $66.78 per share, with a total value of $186,984.00. The disclosure for this purchase can be found here. Insiders purchased 14,425 shares of company stock valued at $950,782 over the last quarter. 0.38% of the stock is currently owned by corporate insiders.
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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