Chase Investment Counsel Corp Holds Position in Schlumberger NV (SLB)
Chase Investment Counsel Corp continued to hold its position in Schlumberger NV (NYSE:SLB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,440 shares of the company’s stock at the end of the second quarter. Chase Investment Counsel Corp’s holdings in Schlumberger NV were worth $272,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Harbor Financial Group LLC increased its position in Schlumberger NV by 50.0% in the second quarter. New Harbor Financial Group LLC now owns 1,500 shares of the company’s stock worth $118,000 after buying an additional 500 shares in the last quarter. Trust Department MB Financial Bank N A increased its position in 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 worth $139,000 after buying an additional 153 shares in the last quarter. North Star Investment Management Corp. increased its position in Schlumberger NV by 23.6% in the second quarter. North Star Investment Management Corp. now owns 1,830 shares of the company’s stock worth $145,000 after buying an additional 350 shares in the last quarter. FCM Investments TX increased its position in Schlumberger NV by 25.0% in the second quarter. FCM Investments TX now owns 2,000 shares of the company’s stock worth $158,000 after buying an additional 400 shares in the last quarter. Finally, Brookfield Asset Management Inc. increased its position in Schlumberger NV by 72.1% in the first quarter. Brookfield Asset Management Inc. now owns 2,220 shares of the company’s stock worth $164,000 after buying an additional 930 shares in the last quarter. Hedge funds and other institutional investors own 78.39% of the company’s stock.
Shares of Schlumberger NV (NYSE:SLB) traded down 0.26% during trading on Friday, reaching $81.32. The company had a trading volume of 4,681,503 shares. Schlumberger NV has a 12-month low of $59.60 and a 12-month high of $83.97. The firm has a 50-day moving average of $78.67 and a 200-day moving average of $78.13. The company’s market cap is $113.09 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, beating the 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 analyst estimates of $7.09 billion. On average, equities research analysts anticipate that Schlumberger NV will post $1.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Wednesday, September 7th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Friday, September 2nd. Schlumberger NV’s dividend payout ratio (DPR) is currently -168.07%.
SLB has been the topic of a number of research reports. Societe Generale upgraded Schlumberger NV from a “hold” rating to a “buy” rating and raised their price target for the stock from $86.00 to $91.00 in a research note on Monday, July 18th. Citigroup Inc. reiterated a “buy” rating and issued a $89.00 target price on shares of Schlumberger NV in a research note on Friday, July 15th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Schlumberger NV in a research note on Thursday, June 30th. Credit Suisse Group AG reissued a “buy” rating on shares of Schlumberger NV in a report on Tuesday, June 28th. Finally, BMO Capital Markets reissued a “buy” rating on shares of Schlumberger NV in a report on Wednesday, July 13th. Four research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company. Schlumberger NV currently has a consensus rating of “Buy” and an average price target of $90.69.
In other news, Director Tore I. Sandvold sold 2,500 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 17,750 shares of the company’s stock, valued at $1,386,097.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Howard Guild sold 11,900 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $81.32, for a total transaction of $967,708.00. Following the completion of the sale, the insider now directly owns 19,781 shares in the company, valued at approximately $1,608,590.92. 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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