Schlumberger N.V. (NYSE:SLB) Shares Sold by Wedgewood Partners Inc.
Wedgewood Partners Inc. reduced its stake in shares of Schlumberger N.V. (NYSE:SLB) by 9.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,880,003 shares of the oil and gas company’s stock after selling 301,715 shares during the period. Schlumberger N.V. comprises approximately 5.8% of Wedgewood Partners Inc.’s portfolio, making the stock its 8th largest position. Wedgewood Partners Inc.’s holdings in Schlumberger N.V. were worth $224,926,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Lincoln Capital Corp bought a new stake in shares of Schlumberger N.V. during the fourth quarter valued at approximately $2,472,000. Pekin Singer Strauss Asset Management IL raised its stake in shares of Schlumberger N.V. by 15.9% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 19,295 shares of the oil and gas company’s stock valued at $1,620,000 after buying an additional 2,644 shares in the last quarter. Wealthfront Inc. raised its stake in shares of Schlumberger N.V. by 12.4% in the fourth quarter. Wealthfront Inc. now owns 36,038 shares of the oil and gas company’s stock valued at $3,025,000 after buying an additional 3,978 shares in the last quarter. Jackson Grant Investment Advisers Inc. bought a new stake in shares of Schlumberger N.V. during the fourth quarter valued at approximately $160,000. 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 valued at $2,293,000 after buying an additional 11,753 shares in the last quarter. 79.14% of the stock is currently owned by institutional investors and hedge funds.
Shares of Schlumberger N.V. (NYSE SLB) traded down 0.89% during midday trading on Friday, hitting $63.83. The company had a trading volume of 4,627,489 shares. The stock has a market capitalization of $88.37 billion, a price-to-earnings ratio of 502.60 and a beta of 1.02. The stock’s 50-day moving average price is $66.44 and its 200-day moving average price is $73.68. Schlumberger N.V. has a one year low of $63.74 and a one year high of $87.84.
Schlumberger N.V. (NYSE:SLB) last announced its earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The business 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%. Schlumberger N.V.’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $0.23 EPS. Analysts predict that Schlumberger N.V. will post $1.51 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Wednesday, September 6th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, September 1st. Schlumberger N.V.’s dividend payout ratio (DPR) is presently 1,538.58%.
SLB has been the topic of several recent analyst reports. Jefferies Group LLC reaffirmed an “equal weight” rating on shares of Schlumberger N.V. in a research note on Friday, April 14th. Zacks Investment Research raised Schlumberger N.V. from a “sell” rating to a “hold” rating in a research note on Tuesday, April 18th. Deutsche Bank AG decreased their price target on Schlumberger N.V. from $101.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, April 18th. HSBC Holdings plc initiated coverage on Schlumberger N.V. in a research note on Wednesday, April 19th. They issued a “hold” rating and a $90.00 price target on the stock. Finally, SunTrust Banks, Inc. raised Schlumberger N.V. from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research note on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. Schlumberger N.V. presently has an average rating of “Buy” and a consensus target price of $86.40.
In other Schlumberger N.V. news, Director Helge Lund acquired 2,800 shares of the stock in a transaction dated Monday, July 24th. The stock was purchased at an average cost of $66.78 per share, with a total value of $186,984.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, President Aaron Gatt Floridia sold 40,000 shares of Schlumberger N.V. stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $69.17, for a total value of $2,766,800.00. Following the completion of the transaction, the president now directly owns 96,175 shares of the company’s stock, valued at $6,652,424.75. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.
Schlumberger N.V. Company Profile
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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