Schlumberger NV (SLB) Stake Raised by Denver Investment Advisors LLC
Denver Investment Advisors LLC raised its position in Schlumberger NV (NYSE:SLB) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,399 shares of the company’s stock after buying an additional 4,104 shares during the period. Denver Investment Advisors LLC’s holdings in Schlumberger NV were worth $13,562,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. Emerald Acquisition Ltd. acquired a new position in shares of Schlumberger NV during the second quarter worth about $262,975,000. Bank of Montreal Can acquired a new position in shares of Schlumberger NV during the second quarter worth about $182,448,000. Cambiar Investors LLC acquired a new position in shares of Schlumberger NV during the second quarter worth about $171,211,000. State Street Corp raised its position in shares of Schlumberger NV by 2.6% in the first quarter. State Street Corp now owns 57,778,375 shares of the company’s stock worth $4,261,159,000 after buying an additional 1,485,126 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Schlumberger NV by 10.1% in the second quarter. Ameriprise Financial Inc. now owns 8,539,378 shares of the company’s stock worth $675,396,000 after buying an additional 780,589 shares during the period. 78.39% of the stock is owned by institutional investors and hedge funds.
Shares of Schlumberger NV (NYSE:SLB) traded up 1.64% on Friday, reaching $78.64. 6,485,671 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $79.02 and its 200 day moving average price is $77.63. Schlumberger NV has a 12 month low of $59.60 and a 12 month high of $83.97. The company’s market cap is $109.36 billion.
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, beating the Zacks’ consensus estimate of $0.21 by $0.02. The company had revenue of $7.16 billion for the quarter, compared to analysts’ expectations of $7.09 billion. Schlumberger NV had a negative net margin of 5.64% and a positive return on equity of 6.88%. Equities research analysts predict that Schlumberger NV will post $1.12 EPS for the current fiscal year.
The company also recently announced 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. The ex-dividend date is Friday, September 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.54%. Schlumberger NV’s payout ratio is -168.07%.
SLB has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reissued a “buy” rating on shares of Schlumberger NV in a report on Thursday, June 30th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating on shares of Schlumberger NV in a research note on Tuesday, July 5th. Guggenheim reaffirmed a “buy” rating on shares of Schlumberger NV in a research note on Wednesday, August 31st. Jefferies Group reaffirmed a “hold” rating on shares of Schlumberger NV in a research note on Thursday, June 30th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $89.00 price target (down from $90.00) on shares of Schlumberger NV in a research note on Thursday, June 23rd. Four research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $90.59.
In related news, insider Howard Guild sold 11,900 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $81.32, for a total value of $967,708.00. Following the transaction, the insider now owns 19,781 shares in the company, valued at approximately $1,608,590.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Stephane Biguet sold 4,227 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $78.52, for a total transaction of $331,904.04. Following the completion of the transaction, the vice president now owns 7,108 shares in the company, valued at approximately $558,120.16. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by insiders.
About Schlumberger NV
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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