Schlumberger N.V. (NYSE:SLB) Shares Bought by Viking Fund Management LLC
Viking Fund Management LLC increased its stake in shares of Schlumberger N.V. (NYSE:SLB) by 126.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,000 shares of the oil and gas company’s stock after buying an additional 71,000 shares during the period. Schlumberger N.V. accounts for 1.3% of Viking Fund Management LLC’s investment portfolio, making the stock its 29th largest position. Viking Fund Management LLC’s holdings in Schlumberger N.V. were worth $8,362,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the stock. Tradewinds Capital Management LLC raised its stake in shares of Schlumberger N.V. by 29.8% in the first quarter. Tradewinds Capital Management LLC now owns 1,338 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 307 shares during the period. American Research & Management Co. increased its position in Schlumberger N.V. by 8.5% in the first quarter. American Research & Management Co. now owns 1,356 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 106 shares in the last quarter. MCF Advisors LLC increased its position in Schlumberger N.V. by 130.3% in the first quarter. MCF Advisors LLC now owns 1,617 shares of the oil and gas company’s stock valued at $126,000 after buying an additional 915 shares in the last quarter. Advantage Investment Management LLC acquired a new position in Schlumberger N.V. during the fourth quarter valued at $127,000. Finally, Proficio Capital Partners LLC increased its position in Schlumberger N.V. by 18.0% in the first quarter. Proficio Capital Partners LLC now owns 2,035 shares of the oil and gas company’s stock valued at $145,000 after buying an additional 310 shares in the last quarter. Institutional investors and hedge funds own 79.14% of the company’s stock.
Shares of Schlumberger N.V. (NYSE:SLB) traded down 0.92% on Monday, hitting $66.92. 1,951,207 shares of the company were exchanged. The firm has a market cap of $92.65 billion, a P/E ratio of 526.93 and a beta of 1.02. Schlumberger N.V. has a 52-week low of $64.15 and a 52-week high of $87.84. The company has a 50-day moving average price of $66.69 and a 200 day moving average price of $74.58.
Schlumberger N.V. (NYSE:SLB) last posted its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The firm had revenue of $7.46 billion for the quarter, compared to analyst estimates of $7.25 billion. During the same quarter last year, the firm posted $0.23 earnings per share. Schlumberger N.V.’s revenue for the quarter was up 4.2% compared to the same quarter last year. Analysts predict that Schlumberger N.V. will post $1.51 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Wednesday, September 6th will be issued a $0.50 dividend. The ex-dividend date is Friday, September 1st. This represents a $2.00 annualized dividend and a yield of 2.96%. Schlumberger N.V.’s payout ratio is 1,538.58%.
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SLB has been the topic of several research reports. Barclays PLC reissued an “overweight” rating and issued a $107.00 price target on shares of Schlumberger N.V. in a research note on Monday, April 24th. Morgan Stanley raised their price target on shares of Schlumberger N.V. from $90.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 21st. Zacks Investment Research downgraded shares of Schlumberger N.V. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Jefferies Group LLC reissued a “buy” rating and issued a $92.00 price target on shares of Schlumberger N.V. in a research note on Friday, June 30th. Finally, Vetr raised shares of Schlumberger N.V. from a “buy” rating to a “strong-buy” rating and set a $91.00 price target on the stock in a research note on Thursday, April 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $86.40.
In other Schlumberger N.V. news, Director Helge Lund purchased 2,800 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were purchased at an average price of $66.78 per share, for a total transaction of $186,984.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter L. S. Currie purchased 3,625 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was acquired at an average price of $69.02 per share, for a total transaction of $250,197.50. Following the acquisition, the director now directly owns 31,550 shares of the company’s stock, valued at approximately $2,177,581. The disclosure for this purchase can be found here. Company insiders own 0.38% of the company’s stock.
About Schlumberger N.V.
Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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