Investors 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 stocks 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 weighed in on the company. Guggenheim upgraded Schlumberger NV from a “sell” rating to a “neutral” rating in a research note on Tuesday, May 10th. Jefferies Group restated a “hold” rating and issued a $85.00 price target (up from $80.00) on shares of Schlumberger NV in a research note on Monday, July 11th. Goldman Sachs Group Inc. restated a “buy” rating and issued a $94.00 price target 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 target on the stock. in a research note on Wednesday, April 20th. Finally, Credit Suisse Group AG restated 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 assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $90.77.
The firm’s market cap is $112.92 billion. The company has a 50-day moving average of $79.45 and a 200-day moving average of $75.85.
Schlumberger NV (NYSE:SLB) last released its earnings results on Thursday, July 21st. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. The business earned $7.16 billion during the quarter, compared to analysts’ expectations of $7.09 billion. On average, equities analysts forecast that Schlumberger NV will post $1.14 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Wednesday, September 7th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.46%.
In related news, insider Howard Guild sold 11,900 shares of the stock in a transaction on Monday, July 25th. The stock was 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 $1,608,590.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lubna S. Olayan acquired 1,500 shares of the business’s stock in a transaction that occurred 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 acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,541,400. The disclosure for this purchase can be found here.
Several hedge funds 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. Private Capital Management Inc. purchased a new stake in shares of Schlumberger NV during the fourth quarter valued at about $1,046,000. Genesee Valley Trust Co. raised its stake in shares of 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 raised its stake in shares of 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. raised its stake in shares of 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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