Portland Global Advisors LLC Increases Position in Schlumberger N.V. (SLB)
Portland Global Advisors LLC lifted its holdings in Schlumberger N.V. (NYSE:SLB) by 4.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,784 shares of the oil and gas company’s stock after purchasing an additional 1,245 shares during the period. Portland Global Advisors LLC’s holdings in Schlumberger N.V. were worth $1,763,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Wealth Architects LLC grew its holdings in shares of Schlumberger N.V. by 0.3% in the first quarter. Wealth Architects LLC now owns 4,003 shares of the oil and gas company’s stock valued at $313,000 after purchasing an additional 13 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management grew its holdings in shares of Schlumberger N.V. by 0.5% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 3,720 shares of the oil and gas company’s stock valued at $291,000 after purchasing an additional 18 shares in the last quarter. Syntal Capital Partners LLC grew its holdings in shares of Schlumberger N.V. by 0.5% in the first quarter. Syntal Capital Partners LLC now owns 5,613 shares of the oil and gas company’s stock valued at $439,000 after purchasing an additional 29 shares in the last quarter. Family Legacy Inc. grew its holdings in shares of Schlumberger N.V. by 0.9% in the second quarter. Family Legacy Inc. now owns 3,372 shares of the oil and gas company’s stock valued at $222,000 after purchasing an additional 30 shares in the last quarter. Finally, North Star Investment Management Corp. grew its holdings in shares of Schlumberger N.V. by 1.0% in the first quarter. North Star Investment Management Corp. now owns 3,965 shares of the oil and gas company’s stock valued at $310,000 after purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 78.90% of the company’s stock.
Schlumberger N.V. (SLB) traded up 1.04% during trading on Friday, hitting $68.80. 6,797,576 shares of the stock were exchanged. The company has a market cap of $95.26 billion, a price-to-earnings ratio of 541.73 and a beta of 1.03. The stock’s 50 day moving average is $65.20 and its 200-day moving average is $70.30. Schlumberger N.V. has a one year low of $62.56 and a one year high of $87.84.
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 analysts’ consensus estimates 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 business had revenue of $7.46 billion for the quarter, compared to analysts’ expectations of $7.25 billion. During the same period in the previous year, the business earned $0.23 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. On average, equities research analysts expect that Schlumberger N.V. will post $1.53 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Wednesday, September 6th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, September 1st. Schlumberger N.V.’s dividend payout ratio is currently 1,538.58%.
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A number of research analysts recently weighed in on the stock. Bank of America Corporation dropped their price objective on shares of Schlumberger N.V. from $70.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday, May 30th. BidaskClub upgraded shares of Schlumberger N.V. from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. UBS AG set a $90.00 price objective on shares of Schlumberger N.V. and gave the company a “buy” rating in a report on Friday, June 16th. Zacks Investment Research upgraded shares of Schlumberger N.V. from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Finally, HSBC Holdings plc restated a “neutral” rating and issued a $80.00 price objective (down previously from $86.00) on shares of Schlumberger N.V. in a report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $85.80.
In related news, Director Michael E. Marks acquired 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average cost of $64.20 per share, for a total transaction of $513,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Helge Lund acquired 2,800 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were bought at an average price of $66.78 per share, for a total transaction of $186,984.00. The disclosure for this purchase can be found here. 0.38% of the stock is owned by insiders.
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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