Investors Sell Schlumberger NV (SLB) on Strength (SLB)
Investors sold shares of Schlumberger NV (NYSE:SLB) on strength during trading hours on Thursday. $64.79 million flowed into the stock on the tick-up and $98.29 million flowed out of the stock on the tick-down, for a money net flow of $33.50 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 $1.65 for the day and closed at $83.86
SLB has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reissued a “buy” rating on shares of Schlumberger NV in a report on Thursday, June 30th. Morgan Stanley reaffirmed an “overweight” rating and issued a $110.00 price target (up from $105.00) on shares of Schlumberger NV in a report on Monday, April 25th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating on shares of Schlumberger NV in a report on Tuesday, July 5th. Griffin Securities raised shares of Schlumberger NV from a “sell” rating to a “neutral” rating in a report on Tuesday, May 10th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Schlumberger NV in a report on Thursday, June 30th. Six analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $90.86.
The company has a 50 day moving average of $80.26 and a 200 day moving average of $76.34. The company’s market cap is $115.86 billion.
Schlumberger NV (NYSE:SLB) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. The business had revenue of $7.16 billion for the quarter, compared to analysts’ expectations of $7.09 billion. Equities research analysts predict that Schlumberger NV will post $1.14 earnings per share for the current fiscal year.
The firm also recently disclosed 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. The ex-dividend date is Friday, September 2nd. This represents a $2.00 annualized dividend and a yield of 2.40%.
In other news, CFO Simon Ayat sold 50,000 shares of the company’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $83.68, for a total value of $4,184,000.00. Following the completion of the transaction, the chief financial officer now directly owns 153,335 shares in the company, valued at $12,831,072.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lubna S. Olayan bought 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was purchased 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 of the company’s stock, valued at approximately $1,541,400. The disclosure for this purchase can be found here.
Other hedge funds and institutional investors have recently made changes to their positions in the company. Synovus Financial Corp increased its position in shares of Schlumberger NV by 15.3% in the fourth quarter. Synovus Financial Corp now owns 28,654 shares of the company’s stock valued at $2,000,000 after buying an additional 3,808 shares during the period. State of Wisconsin Investment Board increased its position in shares of Schlumberger NV by 1.7% in the fourth quarter. State of Wisconsin Investment Board now owns 1,400,302 shares of the company’s stock valued at $97,671,000 after buying an additional 23,532 shares during the period. Boston Partners increased its position in shares of Schlumberger NV by 25.3% in the fourth quarter. Boston Partners now owns 61,446 shares of the company’s stock valued at $4,286,000 after buying an additional 12,391 shares during the period. Hamilton Point Investment Advisors LLC increased its position in shares of Schlumberger NV by 6.0% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 25,289 shares of the company’s stock valued at $1,764,000 after buying an additional 1,437 shares during the period. Finally, Johnson Financial Group Inc. increased its position in shares of 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 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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