Investors Sell Shares of Schlumberger NV (SLB) on Strength (SLB)
Traders sold shares of Schlumberger NV (NYSE:SLB) on strength during trading on Tuesday. $75.82 million flowed into the stock on the tick-up and $110.85 million flowed out of the stock on the tick-down, for a money net flow of $35.03 million out of the stock. Of all equities tracked, Schlumberger NV had the 4th highest net out-flow for the day. Schlumberger NV traded up $0.43 for the day and closed at $78.89
Several equities analysts have weighed in on SLB shares. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Schlumberger NV in a report on Monday, April 4th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $82.00 price target on shares of Schlumberger NV in a report on Monday, April 4th. FBR & Co reissued a “buy” rating and set a $105.00 price target on shares of Schlumberger NV in a report on Wednesday, April 6th. Nomura began coverage on Schlumberger NV in a report on Friday, April 8th. They set a “buy” rating and a $81.00 price target for the company. Finally, Zacks Investment Research raised Schlumberger NV from a “strong sell” rating to a “hold” rating in a report on Friday, April 8th. Six investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $90.77.
The company has a 50-day moving average price of $78.68 and a 200-day moving average price of $75.06. The company’s market capitalization is $109.71 billion.
Schlumberger NV (NYSE:SLB) last announced its earnings results on Thursday, July 21st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. The company had revenue of $7.16 billion for the quarter, compared to analysts’ expectations of $7.09 billion. On average, equities research analysts anticipate that Schlumberger NV will post $1.14 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Wednesday, September 7th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.54%.
In other news, President Patrick Schorn sold 9,128 shares of the company’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $80.27, for a total value of $732,704.56. Following the completion of the sale, the president now directly owns 40,000 shares in the company, valued at approximately $3,210,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lubna S. Olayan acquired 1,500 shares of Schlumberger NV stock in a transaction dated Tuesday, May 31st. The stock was bought at an average price of $77.07 per share, with a total value of $115,605.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $1,541,400. The disclosure for this purchase can be found here.
Other large investors recently bought and sold shares of the company. Argent Trust Co raised its stake in 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. Stephens Inc. AR raised its stake in Schlumberger NV by 0.6% in the fourth quarter. Stephens Inc. AR now owns 34,533 shares of the company’s stock valued at $2,409,000 after buying an additional 203 shares during the period. Muhlenkamp & Co. Inc. raised its stake in Schlumberger NV by 0.3% in the fourth quarter. Muhlenkamp & Co. Inc. now owns 59,805 shares of the company’s stock valued at $4,171,000 after buying an additional 205 shares during the period. Capital Investment Counsel Inc raised its stake in Schlumberger NV by 1.1% in the fourth quarter. Capital Investment Counsel Inc now owns 20,386 shares of the company’s stock valued at $1,422,000 after buying an additional 225 shares during the period. Finally, Hourglass Capital LLC raised its stake in Schlumberger NV by 0.3% in the fourth quarter. Hourglass Capital LLC now owns 82,465 shares of the company’s stock valued at $5,752,000 after buying an additional 268 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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