Traders Buy Shares of Schlumberger NV (SLB) on Weakness
Investors bought shares of Schlumberger NV (NYSE:SLB) on weakness during trading hours on Thursday. $165.71 million flowed into the stock on the tick-up and $96.14 million flowed out of the stock on the tick-down, for a money net flow of $69.57 million into the stock. Of all companies tracked, Schlumberger NV had the 13th highest net in-flow for the day. Schlumberger NV traded down ($1.64) for the day and closed at $79.00
A number of equities analysts have recently commented on the stock. Vetr downgraded shares of Schlumberger NV from a “strong-buy” rating to a “buy” rating and set a $84.40 price objective for the company. in a research note on Tuesday, May 24th. Howard Weil increased their price objective 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. Zacks Investment Research upgraded shares of Schlumberger NV from a “strong sell” rating to a “hold” rating in a research note on Monday, June 27th. Jefferies Group restated a “hold” rating and set a $85.00 price objective (up from $80.00) on shares of Schlumberger NV in a research note on Monday, July 11th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Schlumberger NV in a research note on Tuesday, June 28th. Five investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $90.89.
The firm’s 50 day moving average is $80.83 and its 200-day moving average is $77.07. The company’s market capitalization is $109.11 billion.
Schlumberger NV (NYSE:SLB) last issued its quarterly earnings results 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 earned $7.16 billion during the quarter, compared to the consensus estimate of $7.09 billion. On average, analysts predict that Schlumberger NV will post $1.13 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders 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 dividend yield of 2.53%. The ex-dividend date is Friday, September 2nd.
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 value of $732,704.56. Following the transaction, the president now owns 40,000 shares of the company’s stock, valued at approximately $3,210,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael E. Marks sold 13,600 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $81.19, for a total transaction of $1,104,184.00. The disclosure for this sale can be found here.
Several large investors have made changes to their positions in SLB. Mizuho Trust & Banking Co. Ltd. boosted its stake in shares of Schlumberger NV by 1.2% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 1,988,795 shares of the company’s stock worth $138,500,000 after buying an additional 22,906 shares during the period. Liberty Mutual Group Asset Management Inc. boosted its stake in shares of Schlumberger NV by 50.5% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 75,284 shares of the company’s stock worth $5,251,000 after buying an additional 25,259 shares during the period. Gulf International Bank UK Ltd boosted its stake in shares of Schlumberger NV by 2.0% in the fourth quarter. Gulf International Bank UK Ltd now owns 380,871 shares of the company’s stock worth $26,566,000 after buying an additional 7,550 shares during the period. BP PLC boosted its stake in shares of Schlumberger NV by 10.0% in the fourth quarter. BP PLC now owns 165,000 shares of the company’s stock worth $11,504,000 after buying an additional 15,000 shares during the period. Finally, Tredje AP fonden boosted its stake in shares of Schlumberger NV by 1.3% in the fourth quarter. Tredje AP fonden now owns 83,627 shares of the company’s stock worth $5,870,000 after buying an additional 1,073 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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