HighPoint Advisor Group LLC Increases Stake in Schlumberger NV (SLB)
HighPoint Advisor Group LLC increased its stake in Schlumberger NV (NYSE:SLB) by 60.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,180 shares of the company’s stock after buying an additional 2,711 shares during the period. HighPoint Advisor Group LLC’s holdings in Schlumberger NV were worth $588,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its stake in Schlumberger NV by 78.3% in the second quarter. Proficio Capital Partners LLC now owns 1,426 shares of the company’s stock worth $113,000 after buying an additional 626 shares during the last quarter. New Harbor Financial Group LLC raised its stake in shares of Schlumberger NV by 50.0% in the second quarter. New Harbor Financial Group LLC now owns 1,500 shares of the company’s stock valued at $118,000 after buying an additional 500 shares in the last quarter. Trust Department MB Financial Bank N A raised its stake in shares of Schlumberger NV by 9.6% in the second quarter. Trust Department MB Financial Bank N A now owns 1,753 shares of the company’s stock valued at $139,000 after buying an additional 153 shares in the last quarter. North Star Investment Management Corp. raised its stake in shares of Schlumberger NV by 23.6% in the second quarter. North Star Investment Management Corp. now owns 1,830 shares of the company’s stock valued at $145,000 after buying an additional 350 shares in the last quarter. Finally, Financial Management Professionals Inc. raised its stake in shares of Schlumberger NV by 3.3% in the second quarter. Financial Management Professionals Inc. now owns 1,874 shares of the company’s stock valued at $147,000 after buying an additional 60 shares in the last quarter. 78.39% of the stock is owned by institutional investors and hedge funds.
Shares of Schlumberger NV (NYSE:SLB) opened at 81.69 on Wednesday. The stock has a 50 day moving average of $78.67 and a 200-day moving average of $78.02. The company’s market capitalization is $113.61 billion. Schlumberger NV has a one year low of $59.60 and a one year high of $83.97.
Schlumberger NV (NYSE:SLB) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ 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 earned $7.16 billion during the quarter, compared to analysts’ expectations of $7.09 billion. On average, equities analysts forecast that Schlumberger NV will post $1.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Wednesday, September 7th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, September 2nd. Schlumberger NV’s dividend payout ratio (DPR) is presently -168.07%.
Several analysts recently issued reports on SLB shares. Citigroup Inc. cut their price objective on Schlumberger NV from $92.00 to $90.00 and set a “buy” rating for the company in a report on Monday, September 12th. Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of Schlumberger NV in a report on Tuesday, July 5th. Cowen and Company increased their price objective on Schlumberger NV from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Monday, July 25th. Guggenheim reiterated a “buy” rating on shares of Schlumberger NV in a report on Wednesday, August 31st. Finally, Nomura set a $91.00 price objective on Schlumberger NV and gave the stock a “buy” rating in a report on Tuesday, August 16th. Four investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company. Schlumberger NV presently has an average rating of “Buy” and a consensus target price of $90.69.
In other Schlumberger NV news, Director Tore I. Sandvold sold 2,500 shares of the firm’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $78.09, for a total value of $195,225.00. Following the completion of the sale, the director now directly owns 17,750 shares in the company, valued at $1,386,097.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Simon Ayat sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $83.68, for a total transaction of $4,184,000.00. Following the completion of the sale, the chief financial officer now owns 153,335 shares of the company’s stock, valued at $12,831,072.80. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.
Schlumberger NV Company Profile
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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