Investors Sell Schlumberger NV (SLB) on Strength (SLB)
Investors sold shares of Schlumberger NV (NYSE:SLB) on strength during trading hours on Tuesday. $59.80 million flowed into the stock on the tick-up and $90.01 million flowed out of the stock on the tick-down, for a money net flow of $30.21 million out of the stock. Of all stocks tracked, Schlumberger NV had the 15th highest net out-flow for the day. Schlumberger NV traded up $0.11 for the day and closed at $79.81
Several equities research analysts recently commented on the stock. FBR & Co reissued a “buy” rating on shares of Schlumberger NV in a report on Saturday, April 23rd. Jefferies Group reissued a “hold” rating on shares of Schlumberger NV in a report on Thursday, June 30th. Cowen and Company boosted their price target on shares of Schlumberger NV from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, April 25th. BMO Capital Markets reaffirmed a “buy” rating on shares of Schlumberger NV in a research note on Wednesday, July 13th. Finally, Evercore ISI lowered their target price on shares of Schlumberger NV from $79.00 to $78.00 and set a “buy” rating on the stock in a research note on Monday, March 28th. Seven investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Schlumberger NV currently has an average rating of “Buy” and an average price target of $89.33.
The firm has a market capitalization of $99.95 billion and a PE ratio of 63.09. The stock has a 50-day moving average of $78.08 and a 200-day moving average of $74.03.
Schlumberger NV (NYSE:SLB) last issued its quarterly earnings results on Thursday, April 21st. The company reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. During the same quarter last year, the firm posted $1.06 earnings per share. The firm earned $6.52 billion during the quarter, compared to the consensus estimate of $7.04 billion. Schlumberger NV’s revenue was down 36.4% compared to the same quarter last year. On average, equities analysts expect that Schlumberger NV will post $1.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 8th. Stockholders of record on Wednesday, June 1st were issued a $0.50 dividend. The ex-dividend date was Friday, May 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.51%.
In other news, Director Lubna S. Olayan purchased 1,500 shares of the stock in a transaction dated Tuesday, May 31st. The stock was acquired at an average cost of $77.07 per share, for a total transaction of $115,605.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $1,541,400. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Paal Kibsgaard sold 32,857 shares of the business’s stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $80.00, for a total value of $2,628,560.00. Following the completion of the sale, the chief executive officer now owns 170,000 shares of the company’s stock, valued at $13,600,000. The disclosure for this sale can be found here.
Several large investors have recently modified their holdings of the stock. Community Bank N.A. increased its stake in shares of Schlumberger NV by 15.1% in the fourth quarter. Community Bank N.A. now owns 14,671 shares of the company’s stock worth $1,024,000 after buying an additional 1,920 shares during the period. Argent Trust Co increased its position in shares of Schlumberger NV by 0.4% in the third quarter. Argent Trust Co now owns 14,953 shares of the company’s stock worth $1,032,000 after buying an additional 56 shares during the last quarter. Leisure Capital Management increased its position in shares of Schlumberger NV by 5.1% in the fourth quarter. Leisure Capital Management now owns 15,548 shares of the company’s stock worth $1,084,000 after buying an additional 756 shares during the last quarter. Genesee Valley Trust Co. increased its position in shares of Schlumberger NV by 24.3% in the fourth quarter. Genesee Valley Trust Co. now owns 16,429 shares of the company’s stock worth $1,146,000 after buying an additional 3,217 shares during the last quarter. Finally, Grandfield & Dodd LLC increased its position in shares of Schlumberger NV by 1.2% in the fourth quarter. Grandfield & Dodd LLC now owns 16,467 shares of the company’s stock worth $1,149,000 after buying an additional 193 shares during the last quarter.
Schlumberger N.V. is a supplier of technology, integrated project management and information solutions to the international oil and gas exploration and production industry. The Company operates in the oilfield service markets through three groups: Reservoir Characterization, Drilling and Production. Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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