Traders Buy Shares of Schlumberger NV (SLB) on Weakness
Traders purchased shares of Schlumberger NV (NYSE:SLB) on weakness during trading hours on Monday. $74.42 million flowed into the stock on the tick-up and $42.02 million flowed out of the stock on the tick-down, for a money net flow of $32.40 million into the stock. Of all equities tracked, Schlumberger NV had the 14th highest net in-flow for the day. Schlumberger NV traded down ($0.30) for the day and closed at $81.20
SLB has been the subject of several recent analyst reports. Zacks Investment Research cut Schlumberger NV from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 2nd. Howard Weil boosted their target price on Schlumberger NV from $80.00 to $90.00 and gave the stock a “sector outperform” rating in a research note on Monday, July 25th. Standpoint Research cut Schlumberger NV from a “buy” rating to a “hold” rating in a research note on Wednesday, April 20th. Goldman Sachs Group Inc. restated a “buy” rating and set a $94.00 target price (up previously from $82.00) on shares of Schlumberger NV in a research note on Monday, May 9th. Finally, Scotiabank restated a “sector outperform” rating and set a $90.00 target price (up previously from $80.00) on shares of Schlumberger NV in a research note on Tuesday, July 26th. Six equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $90.77.
The company’s market capitalization is $114.08 billion. The stock’s 50 day moving average price is $79.61 and its 200-day moving average price is $76.09.
Schlumberger NV (NYSE:SLB) last issued its earnings results on Thursday, July 21st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ 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. Equities research analysts expect that Schlumberger NV will post $1.14 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Wednesday, September 7th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.44%.
In other Schlumberger NV news, Director Lubna S. Olayan bought 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was acquired at an average price of $77.07 per share, with a total value of $115,605.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $1,541,400. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Patrick Schorn sold 9,128 shares of the firm’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 of the company’s stock, valued at approximately $3,210,800. The disclosure for this sale can be found here.
Several hedge funds have modified their holdings of SLB. Eaton Vance Management boosted its stake in shares of Schlumberger NV by 31.2% in the fourth quarter. Eaton Vance Management now owns 4,906,748 shares of the company’s stock valued at $342,246,000 after buying an additional 1,165,848 shares during the period. BlackRock Advisors LLC boosted its stake 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. Platinum Investment Management Ltd. acquired a new stake in shares of Schlumberger NV during the fourth quarter valued at approximately $59,828,000. Dimensional Fund Advisors LP boosted its stake in shares of Schlumberger NV by 14.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,045,430 shares of the company’s stock valued at $282,166,000 after buying an additional 521,680 shares during the period. Finally, Airain ltd acquired a new stake 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.
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