Bronfman E.L. Rothschild L.P. raised its holdings in Schlumberger N.V. (NYSE:SLB) by 31.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 15,015 shares of the oil and gas company’s stock after acquiring an additional 3,626 shares during the quarter. Bronfman E.L. Rothschild L.P.’s holdings in Schlumberger N.V. were worth $989,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Comprehensive Portfolio Management LLC acquired a new position in Schlumberger N.V. in the 2nd quarter valued at approximately $885,000. Bank of Montreal Can increased its position in shares of Schlumberger N.V. by 41.6% during the second quarter. Bank of Montreal Can now owns 1,601,025 shares of the oil and gas company’s stock worth $105,414,000 after buying an additional 470,615 shares during the period. Denver Investment Advisors LLC increased its position in shares of Schlumberger N.V. by 5.8% during the second quarter. Denver Investment Advisors LLC now owns 160,191 shares of the oil and gas company’s stock worth $10,547,000 after buying an additional 8,817 shares during the period. SOL Capital Management CO increased its position in shares of Schlumberger N.V. by 8.3% during the second quarter. SOL Capital Management CO now owns 5,226 shares of the oil and gas company’s stock worth $344,000 after buying an additional 400 shares during the period. Finally, Cambiar Investors LLC increased its position in shares of 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 buying an additional 1,726,174 shares during the period. Hedge funds and other institutional investors own 79.13% of the company’s stock.
SLB has been the subject of several recent analyst reports. Piper Jaffray Companies set a $74.00 price objective on shares of Schlumberger N.V. and gave the stock a “buy” rating in a research report on Saturday, October 21st. BMO Capital Markets reiterated a “buy” rating and set a $74.00 price objective on shares of Schlumberger N.V. in a research report on Wednesday, September 6th. Sanford C. Bernstein reiterated an “outperform” rating and set a $80.00 price objective on shares of Schlumberger N.V. in a research report on Wednesday, September 6th. Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating on shares of Schlumberger N.V. in a research report on Saturday, July 22nd. Finally, Citigroup Inc. decreased their price objective on shares of Schlumberger N.V. from $80.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Schlumberger N.V. currently has an average rating of “Buy” and a consensus price target of $79.31.
Schlumberger N.V. (NYSE:SLB) last posted its quarterly earnings data on Friday, October 20th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $7.91 billion. During the same quarter last year, the company posted $0.25 earnings per share. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. analysts forecast that Schlumberger N.V. will post 1.47 EPS for the current fiscal year.
In related news, Director Tore I. Sandvold sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total transaction of $219,205.00. Following the completion of the sale, the director now owns 1,500 shares in the company, valued at $93,945. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.38% of the company’s stock.
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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.
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