Schlumberger N.V. (SLB) Stake Cut by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. lowered its position in Schlumberger N.V. (NYSE:SLB) by 0.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,779 shares of the oil and gas company’s stock after selling 430 shares during the period. Oppenheimer & Co. Inc.’s holdings in Schlumberger N.V. were worth $8,808,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. M Holdings Securities Inc. raised its stake in shares of Schlumberger N.V. by 1.6% in the fourth quarter. M Holdings Securities Inc. now owns 3,976 shares of the oil and gas company’s stock worth $334,000 after buying an additional 62 shares during the period. Whalerock Point Partners LLC raised its stake in shares of Schlumberger N.V. by 10.3% in the fourth quarter. Whalerock Point Partners LLC now owns 11,045 shares of the oil and gas company’s stock worth $928,000 after buying an additional 1,028 shares during the period. HighPoint Advisor Group LLC raised its stake in shares of Schlumberger N.V. by 1.9% in the fourth quarter. HighPoint Advisor Group LLC now owns 6,853 shares of the oil and gas company’s stock worth $564,000 after buying an additional 130 shares during the period. USA Financial Portformulas Corp acquired a new stake in shares of Schlumberger N.V. during the fourth quarter worth approximately $468,000. Finally, Perigon Wealth Management LLC raised its stake in shares of Schlumberger N.V. by 70.5% in the fourth quarter. Perigon Wealth Management LLC now owns 28,415 shares of the oil and gas company’s stock worth $2,293,000 after buying an additional 11,753 shares during the period. Institutional investors and hedge funds own 79.14% of the company’s stock.
Shares of Schlumberger N.V. (NYSE SLB) traded down 0.371% during midday trading on Friday, reaching $64.161. The company’s stock had a trading volume of 1,075,952 shares. The company’s 50-day moving average price is $66.49 and its 200-day moving average price is $73.83. Schlumberger N.V. has a 12 month low of $64.04 and a 12 month high of $87.84. The company has a market cap of $88.83 billion, a PE ratio of 505.205 and a beta of 1.02.
Schlumberger N.V. (NYSE:SLB) last issued its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. The firm had revenue of $7.46 billion during the quarter, compared to analyst estimates of $7.25 billion. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. On average, equities analysts anticipate that Schlumberger N.V. will post $1.51 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Wednesday, September 6th will be given a $0.50 dividend. The ex-dividend date is Friday, September 1st. This represents a $2.00 annualized dividend and a yield of 3.11%. Schlumberger N.V.’s dividend payout ratio is currently 1,538.58%.
A number of research firms have issued reports on SLB. Deutsche Bank AG decreased their target price on Schlumberger N.V. from $101.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, April 18th. Zacks Investment Research raised Schlumberger N.V. from a “sell” rating to a “hold” rating in a research report on Tuesday, April 18th. Jefferies Group LLC reissued an “equal weight” rating on shares of Schlumberger N.V. in a research report on Friday, April 14th. HSBC Holdings plc began coverage on Schlumberger N.V. in a research report on Wednesday, April 19th. They issued a “hold” rating and a $90.00 target price for the company. Finally, Vetr raised Schlumberger N.V. from a “buy” rating to a “strong-buy” rating and set a $91.00 target price for the company in a research report on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. Schlumberger N.V. has a consensus rating of “Buy” and a consensus target price of $86.40.
In related news, Director Helge Lund purchased 2,800 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was bought 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 available at this link. Also, Director Peter L. S. Currie purchased 3,625 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was bought at an average price of $69.02 per share, with a total value of $250,197.50. Following the transaction, the director now 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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