Traders Buy Schlumberger NV (SLB) on Weakness
Traders purchased shares of Schlumberger NV (NYSE:SLB) on weakness during trading hours on Monday. $196.22 million flowed into the stock on the tick-up and $171.08 million flowed out of the stock on the tick-down, for a money net flow of $25.14 million into the stock. Of all companies tracked, Schlumberger NV had the 21st highest net in-flow for the day. Schlumberger NV traded down ($0.90) for the day and closed at $80.71
A number of brokerages have issued reports on SLB. FBR & Co reissued a “buy” rating on shares of Schlumberger NV in a research note on Saturday, April 23rd. Howard Weil lifted their price objective on Schlumberger NV from $80.00 to $90.00 and gave the company a “sector outperform” rating in a research note on Monday. Vetr lowered Schlumberger NV from a “strong-buy” rating to a “buy” rating and set a $84.40 price objective on the stock. in a research note on Tuesday, May 24th. Zacks Investment Research raised Schlumberger NV from a “strong sell” rating to a “hold” rating in a research note on Friday, April 8th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Schlumberger NV in a research note on Monday, April 25th. Six analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $90.48.
The firm’s 50-day moving average is $78.65 and its 200-day moving average is $74.39. The firm’s market cap is $112.27 billion.
Schlumberger NV (NYSE:SLB) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. The company had revenue of $7.16 billion for the quarter, compared to analyst estimates of $7.09 billion. On average, equities research analysts predict that Schlumberger NV will post $1.13 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Wednesday, September 7th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.48%.
In other news, CEO Paal Kibsgaard sold 32,857 shares of the company’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $80.00, for a total transaction of $2,628,560.00. Following the completion of the transaction, the chief executive officer now directly owns 170,000 shares in the company, valued at $13,600,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lubna S. Olayan purchased 1,500 shares of the stock in a transaction dated Tuesday, May 31st. The shares were bought at an average price of $77.07 per share, with a total value of $115,605.00. Following the completion of the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,541,400. The disclosure for this purchase can be found here.
Other hedge funds and institutional investors recently made changes to their positions in the company. Community Bank N.A. increased its position 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 valued at $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 valued at $1,032,000 after buying an additional 56 shares during the period. 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 valued at $1,084,000 after buying an additional 756 shares during the period. 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 valued at $1,146,000 after buying an additional 3,217 shares during the period. 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 valued at $1,149,000 after buying an additional 193 shares during the period.
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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