Investors Sell Schlumberger NV (SLB) on Strength (SLB)
Investors sold shares of Schlumberger NV (NYSE:SLB) on strength during trading hours on Thursday. $46.82 million flowed into the stock on the tick-up and $95.04 million flowed out of the stock on the tick-down, for a money net flow of $48.22 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 $0.65 for the day and closed at $81.50
SLB has been the topic of several research analyst reports. JPMorgan Chase & Co. reissued a “buy” rating on shares of Schlumberger NV in a report on Thursday, June 30th. Morgan Stanley reissued an “overweight” rating and issued a $110.00 target price (up previously from $105.00) on shares of Schlumberger NV in a report on Monday, April 25th. Goldman Sachs Group Inc. reissued a “conviction-buy” rating on shares of Schlumberger NV in a report on Tuesday, July 5th. Standpoint Research downgraded shares of Schlumberger NV from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th. Finally, Griffin Securities raised shares of Schlumberger NV from a “sell” rating to a “neutral” rating in a report on Tuesday, May 10th. Six equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company. Schlumberger NV presently has an average rating of “Buy” and a consensus price target of $90.77.
The stock’s market cap is $112.92 billion. The company has a 50 day moving average price of $79.45 and a 200 day moving average price of $75.85.
Schlumberger NV (NYSE:SLB) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.23 EPS for the quarter, topping the Zacks’ 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. Equities analysts forecast that Schlumberger NV will post $1.14 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Wednesday, September 7th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.46%.
In related news, CEO Paal Kibsgaard sold 32,857 shares of the business’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $80.00, for a total transaction of $2,628,560.00. Following the completion of the sale, the chief executive officer now owns 170,000 shares in the company, valued at $13,600,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Stephane Biguet sold 4,227 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $78.52, for a total value of $331,904.04. Following the sale, the vice president now owns 7,108 shares of the company’s stock, valued at approximately $558,120.16. The disclosure for this sale can be found here.
Other large investors have bought and sold shares of the company. Johnson Financial Group Inc. boosted its stake in Schlumberger NV by 2.3% in the fourth quarter. Johnson Financial Group Inc. now owns 26,544 shares of the company’s stock valued at $1,852,000 after buying an additional 585 shares during the last quarter. CI Global Investments Inc. acquired a new stake in Schlumberger NV during the fourth quarter valued at $2,106,000. Profund Advisors LLC boosted its stake in Schlumberger NV by 0.4% in the fourth quarter. Profund Advisors LLC now owns 89,266 shares of the company’s stock valued at $6,226,000 after buying an additional 398 shares during the last quarter. ProShare Advisors LLC boosted its stake in Schlumberger NV by 5.1% in the fourth quarter. ProShare Advisors LLC now owns 289,304 shares of the company’s stock valued at $20,179,000 after buying an additional 14,118 shares during the last quarter. Finally, Boys Arnold & Co. Inc. boosted its stake in Schlumberger NV by 58.9% in the fourth quarter. Boys Arnold & Co. Inc. now owns 86,631 shares of the company’s stock valued at $6,043,000 after buying an additional 32,112 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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