Schlumberger NV (SLB) Position Raised by Essex Investment Management Co. LLC
Essex Investment Management Co. LLC boosted its stake in Schlumberger NV (NYSE:SLB) by 53.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,745 shares of the company’s stock after buying an additional 38,462 shares during the period. Schlumberger NV accounts for about 1.5% of Essex Investment Management Co. LLC’s investment portfolio, making the stock its 15th largest position. Essex Investment Management Co. LLC’s holdings in Schlumberger NV were worth $8,758,000 at the end of the most recent quarter.
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 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 worth $118,000 after buying an additional 500 shares in the last quarter. Trust Department MB Financial Bank N A increased its position 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 worth $139,000 after buying an additional 153 shares in the last quarter. North Star Investment Management Corp. increased its position 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 worth $145,000 after buying an additional 350 shares in the last quarter. FCM Investments TX increased its position in shares of 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 shares of 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. Institutional investors own 78.39% of the company’s stock.
Schlumberger NV (NYSE:SLB) traded down 0.26% on Friday, reaching $81.32. The company’s stock had a trading volume of 4,681,503 shares. Schlumberger NV has a 52 week low of $59.60 and a 52 week high of $83.97. The stock’s market capitalization is $113.09 billion. The firm has a 50 day moving average price of $78.67 and a 200 day moving average price of $78.13.
Schlumberger NV (NYSE:SLB) last posted its earnings results on Thursday, July 21st. The company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The business had revenue of $7.16 billion for the quarter, compared to analyst estimates of $7.09 billion. Schlumberger NV had a negative net margin of 5.64% and a positive return on equity of 6.88%. On average, equities analysts anticipate that Schlumberger NV will post $1.12 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Wednesday, September 7th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, September 2nd. This represents a $2.00 annualized dividend and a dividend yield of 2.46%. Schlumberger NV’s payout ratio is -168.07%.
A number of research analysts have recently issued reports on SLB shares. Societe Generale upgraded Schlumberger NV from a “hold” rating to a “buy” rating and lifted their price target for the company from $86.00 to $91.00 in a report on Monday, July 18th. Citigroup Inc. reiterated a “buy” rating and issued a $89.00 price target on shares of Schlumberger NV in a report on Friday, July 15th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Schlumberger NV in a report on Thursday, June 30th. Credit Suisse Group AG reiterated a “buy” rating on shares of Schlumberger NV in a report on Tuesday, June 28th. Finally, BMO Capital Markets restated a “buy” rating on shares of Schlumberger NV in a research note on Wednesday, July 13th. Four 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’s stock. The company has an average rating of “Buy” and a consensus price target of $90.69.
In other Schlumberger NV news, CFO Simon Ayat sold 50,000 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $83.68, for a total value of $4,184,000.00. Following the transaction, the chief financial officer now owns 153,335 shares in the company, valued at approximately $12,831,072.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tore I. Sandvold sold 2,500 shares of the business’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $78.09, for a total transaction of $195,225.00. Following the completion of the transaction, the director now owns 17,750 shares in the company, valued at approximately $1,386,097.50. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.
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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