Schlumberger NV (SLB) Sets New 1-Year High at $83.89
Shares of Schlumberger NV (NYSE:SLB) reached a new 52-week high during trading on Thursday . The stock traded as high as $83.89 and last traded at $83.73, with a volume of 2,346,560 shares trading hands. The stock had previously closed at $82.21.
SLB has been the topic of a number of recent analyst reports. FBR & Co reissued a “buy” rating on shares of Schlumberger NV in a report on Saturday, April 23rd. Vetr downgraded shares of Schlumberger NV from a “strong-buy” rating to a “buy” rating and set a $84.40 price target on the stock. in a report on Tuesday, May 24th. Howard Weil increased their price target on shares of Schlumberger NV from $80.00 to $90.00 and gave the stock a “sector outperform” rating in a report on Monday, July 25th. Zacks Investment Research raised shares of Schlumberger NV from a “strong sell” rating to a “hold” rating in a report on Monday, June 27th. Finally, Credit Suisse Group AG reissued a “buy” rating and set a $80.00 price target on shares of Schlumberger NV in a report on Monday, April 25th. Six equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Schlumberger NV currently has a consensus rating of “Buy” and an average price target of $90.86.
The stock’s market cap is $116.69 billion. The stock’s 50-day moving average is $79.96 and its 200 day moving average is $76.20.
Schlumberger NV (NYSE:SLB) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.23 earnings per share 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 analysts’ expectations of $7.09 billion. Equities analysts anticipate that Schlumberger NV will post $1.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Wednesday, September 7th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Friday, September 2nd.
In other news, President Patrick Schorn sold 9,128 shares of the stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $80.27, for a total transaction of $732,704.56. Following the completion of the transaction, 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 SEC, which is accessible through this link. Also, VP Stephane Biguet sold 4,227 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $78.52, for a total value of $331,904.04. Following the transaction, the vice president now owns 7,108 shares of the company’s stock, valued at $558,120.16. The disclosure for this sale can be found here.
Several institutional investors have added to or reduced their stakes in SLB. Private Capital Management Inc. acquired a new position in Schlumberger NV during the fourth quarter valued at approximately $1,046,000. Genesee Valley Trust Co. boosted its position in 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. Capital Investment Counsel Inc boosted its position 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. Buckingham Capital Management Inc. boosted its position in Schlumberger NV by 15.4% in the third quarter. Buckingham Capital Management Inc. now owns 22,314 shares of the company’s stock valued at $1,539,000 after buying an additional 2,984 shares during the period. Finally, Baldwin Investment Management LLC boosted its position in Schlumberger NV by 4.3% in the fourth quarter. Baldwin Investment Management LLC now owns 22,389 shares of the company’s stock valued at $1,562,000 after buying an additional 919 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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