Addenda Capital Inc. Reduces Stake in Schlumberger N.V. (SLB)

Addenda Capital Inc. cut its position in Schlumberger N.V. (NYSE:SLB) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,885 shares of the oil and gas company’s stock after selling 2,843 shares during the quarter. Addenda Capital Inc.’s holdings in Schlumberger N.V. were worth $4,437,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tradewinds Capital Management LLC grew its stake in shares of 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 valued at $104,000 after buying an additional 307 shares in the last quarter. MCF Advisors LLC grew its stake in shares of 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 valued at $126,000 after buying an additional 915 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of Schlumberger N.V. by 18.0% in the first quarter. Proficio Capital Partners LLC now owns 2,035 shares of the oil and gas company’s stock valued at $145,000 after buying an additional 310 shares in the last quarter. Baystate Wealth Management LLC grew its stake in shares of Schlumberger N.V. by 12.7% in the second quarter. Baystate Wealth Management LLC now owns 2,707 shares of the oil and gas company’s stock valued at $181,000 after buying an additional 305 shares in the last quarter. Finally, Rational Advisors LLC acquired a new stake in shares of Schlumberger N.V. in the second quarter valued at $198,000. 79.13% of the stock is 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 purchased at an average price of $64.20 per share, with a total value of $513,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tore I. Sandvold sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $62.63, for a total transaction of $219,205.00. Following the completion of the transaction, the director now directly owns 1,500 shares in the company, valued at approximately $93,945. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Schlumberger N.V. (NYSE:SLB) last issued its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Schlumberger N.V. had a net margin of 1.86% and a return on equity of 4.42%. The business had revenue of $7.91 billion for the quarter, compared to analysts’ expectations of $7.91 billion. During the same quarter last year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 12.6% compared to the same quarter last year.

A number of equities research analysts have recently weighed in on SLB shares. Zacks Investment Research cut Schlumberger N.V. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. BidaskClub raised Schlumberger N.V. from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Sanford C. Bernstein raised Schlumberger N.V. from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $94.00 to $80.00 in a research note on Thursday, July 6th. They noted that the move was a valuation call. Scotiabank set a $90.00 price objective on Schlumberger N.V. and gave the company a “buy” rating in a research note on Friday, July 7th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating on shares of Schlumberger N.V. in a research note on Monday, July 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. Schlumberger N.V. currently has an average rating of “Buy” and an average price target of $80.08.

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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.

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

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