Kanawha Capital Management LLC boosted its stake in shares of Schlumberger N.V. (NYSE:SLB) by 5.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,303 shares of the oil and gas company’s stock after acquiring an additional 3,510 shares during the quarter. Kanawha Capital Management LLC’s holdings in Schlumberger N.V. were worth $4,563,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in SLB. First Eagle Investment Management LLC raised its position in Schlumberger N.V. by 71.4% during the first 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 acquiring an additional 3,272,127 shares in the last quarter. American Century Companies Inc. increased its position in shares of Schlumberger N.V. by 30.8% in the first 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 in the last quarter. Cambiar Investors LLC increased its position in shares of Schlumberger N.V. by 53.8% in the second quarter. Cambiar Investors LLC now owns 4,934,780 shares of the oil and gas company’s stock valued at $324,906,000 after buying an additional 1,726,174 shares in the last quarter. Pioneer Investment Management Inc. increased its position in shares of Schlumberger N.V. by 52.7% in the first quarter. Pioneer Investment Management Inc. now owns 4,514,640 shares of the oil and gas company’s stock valued at $352,594,000 after buying an additional 1,557,982 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Schlumberger N.V. by 25.8% in the first quarter. Swiss National Bank now owns 5,241,535 shares of the oil and gas company’s stock valued at $409,364,000 after buying an additional 1,075,000 shares in the last quarter. Institutional investors own 78.91% of the company’s stock.
In other Schlumberger N.V. news, Director Michael E. Marks bought 8,000 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $64.20 per share, with a total value of $513,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Helge Lund bought 2,800 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were acquired at an average cost 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 currently owned by insiders.
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SLB has been the subject of a number of recent analyst reports. Sanford C. Bernstein restated an “outperform” rating and issued a $80.00 price objective on shares of Schlumberger N.V. in a research report on Wednesday, September 6th. Morgan Stanley boosted their price objective on Schlumberger N.V. from $90.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 21st. Jefferies Group LLC set a $80.00 price objective on Schlumberger N.V. and gave the company a “buy” rating in a research report on Friday, August 25th. Zacks Investment Research cut Schlumberger N.V. from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Scotiabank set a $90.00 price objective on Schlumberger N.V. and gave the company a “buy” rating in a research report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen 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 a consensus price target of $83.28.
Schlumberger N.V. (NYSE SLB) opened at 67.29 on Friday. The firm has a market capitalization of $93.16 billion, a PE ratio of 529.84 and a beta of 1.05. The stock’s 50 day moving average price is $66.93 and its 200 day moving average price is $69.18. Schlumberger N.V. has a 52-week low of $62.56 and a 52-week high of $87.84.
Schlumberger N.V. (NYSE:SLB) last announced its earnings results 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. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. The business had revenue of $7.46 billion for the quarter, compared to analyst estimates of $7.25 billion. During the same period in the previous year, the company earned $0.23 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. Analysts expect that Schlumberger N.V. will post $1.52 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Wednesday, September 6th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Friday, September 1st. Schlumberger N.V.’s payout ratio is 1,538.58%.
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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