Investors Sell Schlumberger NV (SLB) on Strength (SLB)
Traders sold shares of Schlumberger NV (NYSE:SLB) on strength during trading on Friday. $52.77 million flowed into the stock on the tick-up and $91.48 million flowed out of the stock on the tick-down, for a money net flow of $38.71 million out of the stock. Of all companies tracked, Schlumberger NV had the 0th highest net out-flow for the day. Schlumberger NV traded up $0.09 for the day and closed at $78.55
Several research analysts have recently issued reports 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 objective (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 objective on shares of Schlumberger NV in a research note on Wednesday, June 15th. Credit Suisse Group AG restated a “buy” rating on shares of Schlumberger NV in a research note on Thursday, June 2nd. Finally, BMO Capital Markets restated a “buy” rating on shares of Schlumberger NV in a research note on Wednesday, July 13th. Five investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Schlumberger NV presently has an average rating of “Buy” and a consensus target price of $90.73.
The stock’s market cap is $109.24 billion. The stock’s 50 day moving average is $80.76 and its 200-day moving average is $77.09.
Schlumberger NV (NYSE:SLB) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The firm earned $7.16 billion during the quarter, compared to analyst estimates of $7.09 billion. Analysts forecast that Schlumberger NV will post $1.13 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Wednesday, September 7th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Friday, September 2nd.
In other Schlumberger NV news, CFO Simon Ayat sold 50,000 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $83.68, for a total transaction of $4,184,000.00. Following the sale, the chief financial officer now owns 153,335 shares in the company, valued at approximately $12,831,072.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Patrick Schorn sold 9,128 shares of the stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $80.27, for a total value of $732,704.56. Following the sale, the president now owns 40,000 shares in the company, valued at approximately $3,210,800. The disclosure for this sale can be found here.
A number of large investors recently made changes to their positions in the stock. TrimTabs Asset Management LLC boosted 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. Advantus Capital Management Inc boosted 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. Violich Capital Management Inc. boosted its stake in shares of Schlumberger NV by 8.1% in the fourth quarter. Violich Capital Management Inc. now owns 32,178 shares of the company’s stock worth $2,244,000 after buying an additional 2,420 shares during the period. Genesee Valley Trust Co. boosted 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. Finally, Employees Retirement System of Texas boosted 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.
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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