Traders Sell Shares of Schlumberger NV (SLB) on Strength (SLB)
Investors sold shares of Schlumberger NV (NYSE:SLB) on strength during trading on Thursday. $64.79 million flowed into the stock on the tick-up and $98.29 million flowed out of the stock on the tick-down, for a money net flow of $33.50 million out of the stock. Of all stocks tracked, Schlumberger NV had the 0th highest net out-flow for the day. Schlumberger NV traded up $1.65 for the day and closed at $83.86
Several equities research analysts have recently weighed in on SLB shares. JPMorgan Chase & Co. reissued a “buy” rating on shares of Schlumberger NV in a research report on Thursday, June 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $110.00 price objective (up previously from $105.00) on shares of Schlumberger NV in a research report on Monday, April 25th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating on shares of Schlumberger NV in a research report on Tuesday, July 5th. Griffin Securities raised shares of Schlumberger NV from a “sell” rating to a “neutral” rating in a research report on Tuesday, May 10th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Schlumberger NV in a research report on Thursday, June 30th. Six investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $90.86.
The firm’s 50 day moving average price is $80.13 and its 200 day moving average price is $76.26. The company’s market capitalization is $116.62 billion.
Schlumberger NV (NYSE:SLB) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. The company earned $7.16 billion during the quarter, compared to the consensus estimate of $7.09 billion. On average, analysts predict that Schlumberger NV will post $1.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Wednesday, September 7th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Friday, September 2nd.
In related news, Director Lubna S. Olayan purchased 1,500 shares of the business’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 owns 20,000 shares in the company, valued at approximately $1,541,400. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Stephane Biguet sold 4,227 shares of Schlumberger NV stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $78.52, for a total transaction of $331,904.04. Following the completion of the transaction, the vice president now directly owns 7,108 shares in the company, valued at approximately $558,120.16. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently made changes to their positions in the stock. BlackRock Advisors LLC raised its position in shares of Schlumberger NV by 16.7% in the fourth quarter. BlackRock Advisors LLC now owns 7,193,573 shares of the company’s stock worth $501,752,000 after buying an additional 1,027,429 shares during the last quarter. Platinum Investment Management Ltd. acquired a new stake in Schlumberger NV during the fourth quarter worth about $59,828,000. Dimensional Fund Advisors LP increased its stake in Schlumberger NV by 14.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,045,430 shares of the company’s stock worth $282,166,000 after buying an additional 521,680 shares during the period. Airain ltd acquired a new stake in Schlumberger NV during the fourth quarter worth about $15,027,000. Finally, Schwab Charles Investment Management Inc. increased its stake in Schlumberger NV by 4.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,539,072 shares of the company’s stock worth $246,851,000 after buying an additional 144,988 shares during the period.
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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