Investors Buy Schlumberger NV (SLB) on Weakness
Traders bought shares of Schlumberger NV (NYSE:SLB) on weakness during trading hours on Friday. $95.98 million flowed into the stock on the tick-up and $77.66 million flowed out of the stock on the tick-down, for a money net flow of $18.32 million into the stock. Of all equities tracked, Schlumberger NV had the 35th highest net in-flow for the day. Schlumberger NV traded down ($0.04) for the day and closed at $78.96
SLB has been the topic of several recent analyst reports. Zacks Investment Research cut Schlumberger NV from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 2nd. Howard Weil boosted their target price on Schlumberger NV from $80.00 to $90.00 and gave the stock a “sector outperform” rating in a research report on Monday, July 25th. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $94.00 target price (up previously from $82.00) on shares of Schlumberger NV in a research report on Monday, May 9th. Scotiabank reiterated a “sector outperform” rating and set a $90.00 target price (up previously from $80.00) on shares of Schlumberger NV in a research report on Tuesday, July 26th. Finally, Simmons reiterated an “outperform” rating and set a $84.00 target price (down previously from $86.00) on shares of Schlumberger NV in a research report on Monday, June 20th. Five equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $90.73.
The firm’s 50 day moving average is $80.76 and its 200 day moving average is $77.09. The firm’s market capitalization is $109.24 billion.
Schlumberger NV (NYSE:SLB) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.02. The firm had revenue of $7.16 billion for the quarter, compared to analysts’ expectations of $7.09 billion. Analysts predict that Schlumberger NV will post $1.13 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Wednesday, September 7th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.55%. The ex-dividend date is Friday, September 2nd.
In other Schlumberger NV news, CEO Paal Kibsgaard sold 32,857 shares of Schlumberger NV stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $80.00, for a total transaction of $2,628,560.00. Following the completion of the sale, the chief executive officer now owns 170,000 shares of the company’s stock, valued at approximately $13,600,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Stephane Biguet sold 4,227 shares of Schlumberger NV stock in a transaction 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 sale, the vice president now directly owns 7,108 shares of the company’s stock, valued at approximately $558,120.16. The disclosure for this sale can be found here.
Other large investors recently modified their holdings of the company. Employees Retirement System of Texas raised its stake in shares of Schlumberger NV by 0.9% in the fourth quarter. Employees Retirement System of Texas now owns 624,600 shares of the company’s stock worth $43,566,000 after buying an additional 5,300 shares during the period. TrimTabs Asset Management LLC raised its stake in shares of Schlumberger NV by 5.5% in the fourth quarter. TrimTabs Asset Management LLC now owns 29,056 shares of the company’s stock worth $2,027,000 after buying an additional 1,516 shares during the period. 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 worth $1,146,000 after buying an additional 3,217 shares during the period. Advantus Capital Management Inc raised its stake in shares of Schlumberger NV by 1.5% in the fourth quarter. Advantus Capital Management Inc now owns 120,588 shares of the company’s stock worth $8,411,000 after buying an additional 1,770 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Schlumberger NV by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 1,669,557 shares of the company’s stock worth $116,452,000 after buying an additional 31,976 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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