KBC Group NV Sells 137,269 Shares of Schlumberger N.V. (SLB)

KBC Group NV decreased its holdings in shares of Schlumberger N.V. (NYSE:SLB) by 22.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 480,195 shares of the oil and gas company’s stock after selling 137,269 shares during the quarter. KBC Group NV’s holdings in Schlumberger N.V. were worth $31,616,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. 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 worth $613,696,000 after acquiring an additional 3,272,127 shares in the last quarter. American Century Companies Inc. raised its position in Schlumberger N.V. by 30.8% during the first quarter. American Century Companies Inc. now owns 8,326,038 shares of the oil and gas company’s stock worth $650,264,000 after acquiring an additional 1,959,214 shares in the last quarter. Cambiar Investors LLC raised its position in Schlumberger N.V. by 53.8% during the second quarter. Cambiar Investors LLC now owns 4,934,780 shares of the oil and gas company’s stock worth $324,906,000 after acquiring an additional 1,726,174 shares in the last quarter. Pioneer Investment Management Inc. raised its position in Schlumberger N.V. by 52.7% during the first quarter. Pioneer Investment Management Inc. now owns 4,514,640 shares of the oil and gas company’s stock worth $352,594,000 after acquiring an additional 1,557,982 shares in the last quarter. Finally, Swiss National Bank raised its position in Schlumberger N.V. by 25.8% during the first quarter. Swiss National Bank now owns 5,241,535 shares of the oil and gas company’s stock worth $409,364,000 after acquiring an additional 1,075,000 shares in the last quarter. Institutional investors and hedge funds own 79.13% of the company’s stock.

In related news, Director Tore I. Sandvold sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total value of $219,205.00. Following the transaction, the director now directly owns 1,500 shares in the company, valued at $93,945. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael E. Marks acquired 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average price of $64.20 per share, for a total transaction of $513,600.00. The disclosure for this purchase can be found here. Corporate insiders own 0.38% of the company’s stock.

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

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SLB has been the topic of several analyst reports. Piper Jaffray Companies set a $74.00 price target on shares of Schlumberger N.V. and gave the stock a “buy” rating in a research report on Saturday, October 21st. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $80.00 price target on shares of Schlumberger N.V. in a research report on Wednesday, September 6th. Jefferies Group LLC set a $80.00 price target on shares of Schlumberger N.V. and gave the stock a “buy” rating in a research report on Friday, August 25th. Zacks Investment Research lowered shares of Schlumberger N.V. from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Scotiabank set a $80.00 price target on shares of Schlumberger N.V. and gave the stock a “buy” rating in a research report on Saturday, October 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. Schlumberger N.V. currently has a consensus rating of “Buy” and an average target price of $80.08.

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

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