Investors Buy Shares of Schlumberger NV (SLB) on Weakness
Investors bought shares of Schlumberger NV (NYSE:SLB) on weakness during trading hours on Tuesday. $69.98 million flowed into the stock on the tick-up and $58.05 million flowed out of the stock on the tick-down, for a money net flow of $11.93 million into the stock. Of all equities tracked, Schlumberger NV had the 29th highest net in-flow for the day. Schlumberger NV traded down ($0.67) for the day and closed at $81.83
Several analysts have commented on SLB shares. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Schlumberger NV in a research note on Friday, July 22nd. Goldman Sachs Group Inc. set a $100.00 target price on shares of Schlumberger NV and gave the stock a “buy” rating in a research note on Monday, July 25th. Howard Weil lifted their target price on shares of Schlumberger NV from $80.00 to $90.00 and gave the stock a “sector outperform” rating in a research note on Monday, July 25th. Simmons reaffirmed an “overweight” rating and issued a $97.00 target price (up from $84.00) on shares of Schlumberger NV in a research note on Monday, July 25th. Finally, Cowen and Company lifted their target price on shares of Schlumberger NV from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Monday, July 25th. Six analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $90.77.
The firm has a 50 day moving average of $79.25 and a 200-day moving average of $75.64. The company’s market capitalization is $113.80 billion.
Schlumberger NV (NYSE:SLB) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The company earned $7.16 billion during the quarter, compared to analyst estimates of $7.09 billion. On average, analysts forecast that Schlumberger NV will post $1.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Wednesday, September 7th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.44%.
In other news, President Patrick Schorn sold 9,128 shares of the stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $80.27, for a total transaction of $732,704.56. Following the transaction, the president now owns 40,000 shares in the company, valued at approximately $3,210,800. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lubna S. Olayan purchased 1,500 shares of the company’s stock in a transaction dated Tuesday, May 31st. The shares were acquired at an average price of $77.07 per share, for a total transaction of $115,605.00. Following the purchase, the director now owns 20,000 shares in the company, valued at $1,541,400. The disclosure for this purchase can be found here.
Other hedge funds and institutional investors have made changes to their positions in the company. Platinum Investment Management Ltd. acquired a new position in shares of Schlumberger NV during the fourth quarter valued at approximately $59,828,000. Private Capital Management Inc. acquired a new position in shares of Schlumberger NV during the fourth quarter valued at approximately $1,046,000. American International Group Inc. raised its position in shares of Schlumberger NV by 3.4% in the fourth quarter. American International Group Inc. now owns 530,935 shares of the company’s stock valued at $37,033,000 after buying an additional 17,234 shares during the period. BlackRock Advisors LLC raised its position in shares of Schlumberger NV by 16.7% in the fourth quarter. BlackRock Advisors LLC now owns 7,193,573 shares of the company’s stock valued at $501,752,000 after buying an additional 1,027,429 shares during the period. Finally, Airain ltd acquired a new position in shares of Schlumberger NV during the fourth quarter valued at approximately $15,027,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.