Traders Buy Shares of Schlumberger NV (SLB) on Weakness
Traders bought shares of Schlumberger NV (NYSE:SLB) on weakness during trading on Friday. $74.42 million flowed into the stock on the tick-up and $42.02 million flowed out of the stock on the tick-down, for a money net flow of $32.40 million into the stock. Of all companies tracked, Schlumberger NV had the 14th highest net in-flow for the day. Schlumberger NV traded down ($0.30) for the day and closed at $81.20
Several research analysts have recently commented on the company. Guggenheim raised Schlumberger NV from a “sell” rating to a “neutral” rating in a research note on Tuesday, May 10th. Jefferies Group reaffirmed a “hold” rating and issued a $85.00 price objective (up previously from $80.00) on shares of Schlumberger NV in a research note on Monday, July 11th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $94.00 price objective on shares of Schlumberger NV in a research note on Wednesday, June 15th. Vetr downgraded Schlumberger NV from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research note on Wednesday, April 20th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Schlumberger NV in a research note on Thursday, June 2nd. Six research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Schlumberger NV currently has an average rating of “Buy” and an average price target of $90.77.
The firm has a 50-day moving average of $79.45 and a 200 day moving average of $75.85. The firm’s market cap is $112.92 billion.
Schlumberger NV (NYSE:SLB) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The business earned $7.16 billion during the quarter, compared to analyst estimates of $7.09 billion. Analysts predict that Schlumberger NV will post $1.14 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Wednesday, September 7th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.46%.
In other news, President Patrick Schorn sold 9,128 shares of the company’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $80.27, for a total value of $732,704.56. Following the transaction, the president now owns 40,000 shares of the company’s stock, valued at approximately $3,210,800. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lubna S. Olayan purchased 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was acquired at an average cost of $77.07 per share, for a total transaction of $115,605.00. Following the purchase, the director now owns 20,000 shares in the company, valued at $1,541,400. The disclosure for this purchase can be found here.
Other institutional investors have made changes to their positions in the company. Argent Trust Co raised its position 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 during the period. Private Capital Management Inc. purchased a new stake in Schlumberger NV during the fourth quarter valued at about $1,046,000. Genesee Valley Trust Co. increased its stake in Schlumberger NV by 24.3% in the fourth quarter. Genesee Valley Trust Co. now owns 16,429 shares of the company’s stock valued at $1,146,000 after buying an additional 3,217 shares in the last quarter. Capital Investment Counsel Inc increased its stake in Schlumberger NV by 1.1% in the fourth quarter. Capital Investment Counsel Inc now owns 20,386 shares of the company’s stock valued at $1,422,000 after buying an additional 225 shares in the last quarter. Finally, Buckingham Capital Management Inc. increased its stake in Schlumberger NV by 15.4% in the third quarter. Buckingham Capital Management Inc. now owns 22,314 shares of the company’s stock valued at $1,539,000 after buying an additional 2,984 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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