Investors sold shares of Schlumberger NV (NYSE:SLB) on strength during trading on Wednesday. $77.01 million flowed into the stock on the tick-up and $110.59 million flowed out of the stock on the tick-down, for a money net flow of $33.58 million out of the stock. Of all equities tracked, Schlumberger NV had the 0th highest net out-flow for the day. Schlumberger NV traded up $0.79 for the day and closed at $80.60

SLB has been the subject of several research reports. Morgan Stanley decreased their price objective on shares of Schlumberger NV from $105.00 to $91.00 and set an “overweight” rating for the company in a report on Tuesday, April 19th. Guggenheim raised shares of Schlumberger NV from a “sell” rating to a “neutral” rating in a report on Tuesday, May 10th. Barclays PLC boosted their price objective on shares of Schlumberger NV from $74.00 to $83.00 and gave the company an “equal weight” rating in a report on Monday, March 28th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $82.00 price objective on shares of Schlumberger NV in a report on Monday, April 4th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of Schlumberger NV in a report on Wednesday, March 23rd. Six research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and three have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $89.33.

The company has a 50-day moving average of $78.21 and a 200-day moving average of $74.07. The company has a market cap of $100.94 billion and a P/E ratio of 63.72.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Wednesday, June 1st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, May 27th. This represents a $2.00 annualized dividend and a yield of 2.48%.

In other news, Director Lubna S. Olayan purchased 1,500 shares of the stock in a transaction dated Tuesday, May 31st. The shares were purchased at an average price of $77.07 per share, with a total value of $115,605.00. Following the transaction, the director now owns 20,000 shares in the company, valued at approximately $1,541,400. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sherif Foda sold 3,500 shares of the business’s stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $78.92, for a total transaction of $276,220.00. Following the transaction, the insider now directly owns 16,500 shares in the company, valued at approximately $1,302,180. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have recently made changes to their positions in SLB. First Interstate Bank boosted its position in shares of Schlumberger NV by 3.7% in the fourth quarter. First Interstate Bank now owns 80,148 shares of the company’s stock valued at $5,590,000 after buying an additional 2,868 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Schlumberger NV by 6.5% in the fourth quarter. CIBC Asset Management Inc now owns 151,946 shares of the company’s stock valued at $10,598,000 after buying an additional 9,310 shares during the last quarter. ZWJ Investment Counsel Inc. boosted its position in shares of Schlumberger NV by 3.1% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 193,986 shares of the company’s stock valued at $13,530,000 after buying an additional 5,792 shares during the last quarter. Thompson Investment Management Inc. boosted its position in shares of Schlumberger NV by 1.3% in the fourth quarter. Thompson Investment Management Inc. now owns 69,601 shares of the company’s stock valued at $4,854,000 after buying an additional 874 shares during the last quarter. Finally, Tower Bridge Advisors boosted its position in shares of Schlumberger NV by 1.9% in the fourth quarter. Tower Bridge Advisors now owns 189,338 shares of the company’s stock valued at $13,206,000 after buying an additional 3,524 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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