Investors Buy Schlumberger NV (SLB) on Weakness
Investors bought shares of Schlumberger NV (NYSE:SLB) on weakness during trading on Wednesday. $103.82 million flowed into the stock on the tick-up and $70.37 million flowed out of the stock on the tick-down, for a money net flow of $33.45 million into the stock. Of all companies tracked, Schlumberger NV had the 15th highest net in-flow for the day. Schlumberger NV traded down ($0.77) for the day and closed at $78.88
Several research firms have commented on SLB. FBR & Co reaffirmed a “buy” rating on shares of Schlumberger NV in a research note on Saturday, April 23rd. Zacks Investment Research raised shares of Schlumberger NV from a “strong sell” rating to a “hold” rating in a research note on Monday, June 27th. Vetr lowered shares of Schlumberger NV from a “strong-buy” rating to a “buy” rating and set a $84.40 price objective for the company. in a research note on Tuesday, May 24th. Jefferies Group reaffirmed a “hold” rating and set a $85.00 price objective (up from $80.00) on shares of Schlumberger NV in a research note on Monday. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and set a $80.00 price objective on shares of Schlumberger NV in a research note on Monday, April 25th. Eight research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the stock. Schlumberger NV has an average rating of “Buy” and a consensus price target of $89.19.
The company’s 50-day moving average is $77.88 and its 200-day moving average is $73.75. The stock has a market capitalization of $98.78 billion and a PE ratio of 62.36.
Schlumberger NV (NYSE:SLB) last released its earnings results on Thursday, April 21st. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The business earned $6.52 billion during the quarter, compared to analyst estimates of $7.04 billion. During the same quarter in the previous year, the company posted $1.06 earnings per share. The business’s revenue for the quarter was down 36.4% compared to the same quarter last year. On average, analysts predict that Schlumberger NV will post $1.14 earnings per share for the current year.
The company also recently declared 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 2.54%.
In other Schlumberger NV news, insider Sherif Foda sold 3,500 shares of the company’s stock in a transaction dated Monday, April 25th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lubna S. Olayan purchased 1,500 shares of the company’s stock in a transaction on Tuesday, May 31st. The shares were purchased at an average price of $77.07 per share, with a total value of $115,605.00. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $1,541,400. The disclosure for this purchase can be found here.
A number of large investors have recently made changes to their positions in the company. Argent Trust Co raised its stake in shares of 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. raised its stake in shares of 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 raised its stake in shares of 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 raised its stake in shares of 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. raised its stake in shares of 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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