Virginia Retirement Systems ET AL Purchases Shares of 396,647 Schlumberger NV (SLB)
Virginia Retirement Systems ET AL purchased a new position in Schlumberger NV (NYSE:SLB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 396,647 shares of the company’s stock, valued at approximately $31,367,000.
Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Schlumberger NV by 12.8% in the second quarter. Vanguard Group Inc. now owns 88,801,969 shares of the company’s stock worth $7,022,460,000 after buying an additional 10,096,266 shares in the last quarter. State Street Corp increased its stake 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 in the last quarter. Franklin Resources Inc. increased its stake in shares of Schlumberger NV by 3.8% in the first quarter. Franklin Resources Inc. now owns 10,531,372 shares of the company’s stock worth $776,689,000 after buying an additional 389,754 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Schlumberger NV by 0.3% in the first quarter. Geode Capital Management LLC now owns 10,381,557 shares of the company’s stock worth $764,118,000 after buying an additional 25,983 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake 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 in the last quarter. Institutional investors and hedge funds own 78.39% of the company’s stock.
Shares of Schlumberger NV (NYSE:SLB) opened at 82.33 on Tuesday. The firm has a 50 day moving average of $78.68 and a 200 day moving average of $77.99. Schlumberger NV has a one year low of $59.60 and a one year high of $83.97. The stock’s market cap is $114.50 billion.
Schlumberger NV (NYSE:SLB) last posted its quarterly 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. Schlumberger NV had a negative net margin of 5.64% and a positive return on equity of 6.88%. The company had revenue of $7.16 billion for the quarter, compared to the consensus estimate of $7.09 billion. On average, equities research analysts predict that Schlumberger NV will post $1.12 EPS for the current fiscal year.
The firm also recently declared 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. The ex-dividend date is Friday, September 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.43%. Schlumberger NV’s payout ratio is currently -168.07%.
SLB has been the subject of a number of recent analyst reports. Howard Weil raised 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. Scotiabank reiterated a “sector outperform” rating and issued a $90.00 target price (up previously from $80.00) on shares of Schlumberger NV in a report on Tuesday, July 26th. Goldman Sachs Group Inc. set a $100.00 target price on shares of Schlumberger NV and gave the company a “buy” rating in a report on Monday, July 25th. Simmons reiterated an “outperform” rating and issued a $84.00 target price (down previously from $86.00) on shares of Schlumberger NV in a report on Monday, June 20th. Finally, Seaport Global Securities reiterated a “buy” rating on shares of Schlumberger NV in a report on Friday, August 19th. Four equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $90.59.
In related news, Director Tore I. Sandvold sold 2,500 shares of Schlumberger NV stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $78.09, for a total value of $195,225.00. Following the sale, the director now directly owns 17,750 shares in the company, valued at approximately $1,386,097.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Stephane Biguet sold 4,227 shares of Schlumberger NV 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 sale, the vice president now owns 7,108 shares in the company, valued at $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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