Investors Buy Schlumberger NV (SLB) on Weakness
Traders purchased shares of Schlumberger NV (NYSE:SLB) on weakness during trading on Monday. $92.88 million flowed into the stock on the tick-up and $58.58 million flowed out of the stock on the tick-down, for a money net flow of $34.30 million into the stock. Of all companies tracked, Schlumberger NV had the 8th highest net in-flow for the day. Schlumberger NV traded down ($0.72) for the day and closed at $78.02
Several research analysts recently commented on SLB shares. Jefferies Group restated a “hold” rating and set a $85.00 target price (up previously from $80.00) on shares of Schlumberger NV in a research report on Monday. Goldman Sachs Group Inc. restated a “conviction-buy” rating on shares of Schlumberger NV in a research report on Tuesday, July 5th. JPMorgan Chase & Co. restated a “buy” rating on shares of Schlumberger NV in a research report on Thursday, June 30th. Credit Suisse Group AG restated a “buy” rating on shares of Schlumberger NV in a research report on Tuesday, June 28th. Finally, Zacks Investment Research upgraded Schlumberger NV from a “strong sell” rating to a “hold” rating in a research report on Monday, June 27th. Eight analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $89.19.
The firm has a market capitalization of $97.71 billion and a P/E ratio of 61.68. The company’s 50 day moving average price is $77.65 and its 200-day moving average price is $73.67.
Schlumberger NV (NYSE:SLB) last released its quarterly earnings data on Thursday, April 21st. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. During the same quarter in the prior year, the firm earned $1.06 earnings per share. The business had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $7.04 billion. Schlumberger NV’s quarterly revenue was down 36.4% compared to the same quarter last year. Analysts expect that Schlumberger NV will post $1.14 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Wednesday, June 1st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, May 27th. This represents a $2.00 annualized dividend and a yield of 2.56%.
In other Schlumberger NV news, insider Sherif Foda sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $78.92, for a total transaction of $276,220.00. Following the completion of the sale, the insider now directly owns 16,500 shares in the company, valued at $1,302,180. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Paal Kibsgaard sold 32,857 shares of the business’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $80.00, for a total transaction of $2,628,560.00. Following the sale, the chief executive officer now owns 170,000 shares of the company’s stock, valued at $13,600,000. The disclosure for this sale can be found here.
A number of large investors have added to or reduced their stakes in the company. Argent Trust Co increased its stake in Schlumberger NV by 0.4% in the third quarter. Argent Trust Co now owns 14,953 shares of the company’s stock valued at $1,032,000 after buying an additional 56 shares in the last quarter. Farmers & Merchants Investments Inc. increased its stake in Schlumberger NV by 0.4% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 30,132 shares of the company’s stock valued at $2,102,000 after buying an additional 133 shares in the last quarter. Grandfield & Dodd LLC increased its stake in Schlumberger NV by 1.2% in the fourth quarter. Grandfield & Dodd LLC now owns 16,467 shares of the company’s stock valued at $1,149,000 after buying an additional 193 shares in the last quarter. Stephens Inc. AR increased its stake in Schlumberger NV by 0.6% in the fourth quarter. Stephens Inc. AR now owns 34,533 shares of the company’s stock valued at $2,409,000 after buying an additional 203 shares in the last quarter. Finally, Muhlenkamp & Co. Inc. increased its stake in Schlumberger NV by 0.3% in the fourth quarter. Muhlenkamp & Co. Inc. now owns 59,805 shares of the company’s stock valued at $4,171,000 after buying an additional 205 shares in the last quarter.
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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