World Asset Management Inc Cuts Stake in Schlumberger N.V. (SLB)

World Asset Management Inc lessened its holdings in Schlumberger N.V. (NYSE:SLB) by 12.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 127,760 shares of the oil and gas company’s stock after selling 18,429 shares during the period. World Asset Management Inc’s holdings in Schlumberger N.V. were worth $8,412,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Tradewinds Capital Management LLC grew its holdings in Schlumberger N.V. by 29.8% during the 1st quarter. Tradewinds Capital Management LLC now owns 1,338 shares of the oil and gas company’s stock worth $104,000 after acquiring an additional 307 shares in the last quarter. MCF Advisors LLC grew its holdings in Schlumberger N.V. by 130.3% during the 1st quarter. MCF Advisors LLC now owns 1,617 shares of the oil and gas company’s stock worth $126,000 after acquiring an additional 915 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in Schlumberger N.V. by 18.0% during the 1st quarter. Proficio Capital Partners LLC now owns 2,035 shares of the oil and gas company’s stock worth $145,000 after acquiring an additional 310 shares in the last quarter. Baystate Wealth Management LLC grew its holdings in Schlumberger N.V. by 12.7% during the 2nd quarter. Baystate Wealth Management LLC now owns 2,707 shares of the oil and gas company’s stock worth $181,000 after acquiring an additional 305 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in Schlumberger N.V. by 1.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,049 shares of the oil and gas company’s stock worth $200,000 after acquiring an additional 52 shares in the last quarter. 78.91% of the stock is currently owned by institutional investors and hedge funds.

In other Schlumberger N.V. news, Director Michael E. Marks bought 8,000 shares of the business’s stock in a transaction on Friday, August 11th. The shares were 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 SEC, which is available at the SEC website. Also, Director Helge Lund bought 2,800 shares of the business’s stock in a transaction on Monday, July 24th. The shares were acquired 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. Corporate insiders own 0.38% of the company’s stock.

SLB has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Schlumberger N.V. from $90.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 21st. Sanford C. Bernstein raised shares of Schlumberger N.V. from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $94.00 to $80.00 in a report on Thursday, July 6th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating on shares of Schlumberger N.V. in a report on Saturday, July 22nd. BMO Capital Markets reaffirmed a “buy” rating and issued a $74.00 price target on shares of Schlumberger N.V. in a report on Wednesday, September 6th. Finally, Zacks Investment Research raised shares of Schlumberger N.V. from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. Schlumberger N.V. presently has an average rating of “Buy” and an average price target of $83.36.

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Schlumberger N.V. (NYSE:SLB) opened at 68.33 on Wednesday. The stock has a 50 day moving average of $66.68 and a 200 day moving average of $69.21. 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 $94.60 billion, a PE ratio of 538.03 and a beta of 1.05.

Schlumberger N.V. (NYSE:SLB) last released its 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. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The company had revenue of $7.46 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the prior year, the company posted $0.23 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. Analysts anticipate that Schlumberger N.V. will post $1.52 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Wednesday, September 6th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $2.00 dividend on an annualized basis and a yield of 2.93%. Schlumberger N.V.’s payout ratio is presently 1,538.58%.

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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Institutional Ownership by Quarter for Schlumberger N.V. (NYSE:SLB)

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