Schlumberger N.V. (SLB) Position Cut by Neuberger Berman Group LLC
Neuberger Berman Group LLC trimmed its position in Schlumberger N.V. (NYSE:SLB) by 6.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,789,194 shares of the oil and gas company’s stock after selling 403,471 shares during the quarter. Schlumberger N.V. accounts for 0.5% of Neuberger Berman Group LLC’s holdings, making the stock its 28th largest holding. Neuberger Berman Group LLC owned 0.42% of Schlumberger N.V. worth $381,161,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in SLB. Winch Advisory Services LLC increased its stake in Schlumberger N.V. by 1.2% in the first quarter. Winch Advisory Services LLC now owns 5,552 shares of the oil and gas company’s stock valued at $434,000 after acquiring an additional 65 shares during the last quarter. OLD National Bancorp IN increased its stake in Schlumberger N.V. by 4.4% in the first quarter. OLD National Bancorp IN now owns 21,536 shares of the oil and gas company’s stock valued at $1,682,000 after acquiring an additional 916 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in Schlumberger N.V. by 19.2% in the first quarter. Wedge Capital Management L L P NC now owns 173,107 shares of the oil and gas company’s stock valued at $13,520,000 after acquiring an additional 27,893 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in Schlumberger N.V. by 2.4% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 220,245 shares of the oil and gas company’s stock valued at $17,201,000 after acquiring an additional 5,151 shares during the last quarter. Finally, Webster Bank N. A. increased its stake in Schlumberger N.V. by 6.3% in the first quarter. Webster Bank N. A. now owns 50,736 shares of the oil and gas company’s stock valued at $3,963,000 after acquiring an additional 3,012 shares during the last quarter. 79.13% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on SLB shares. Piper Jaffray Companies set a $74.00 price objective on shares of Schlumberger N.V. and gave the company a “buy” rating in a research note on Saturday, October 21st. Sanford C. Bernstein restated an “outperform” rating and issued a $80.00 target price on shares of Schlumberger N.V. in a research report on Wednesday, September 6th. Jefferies Group LLC set a $80.00 target price on shares of Schlumberger N.V. and gave the company a “buy” rating in a research report on Friday, August 25th. Scotiabank set a $80.00 target price on shares of Schlumberger N.V. and gave the company a “buy” rating in a research report on Saturday, October 21st. Finally, Deutsche Bank AG began coverage on shares of Schlumberger N.V. in a research report on Tuesday, October 10th. They issued a “buy” rating and a $78.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $80.08.
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Schlumberger N.V. (NYSE SLB) opened at $65.04 on Tuesday. Schlumberger N.V. has a twelve month low of $61.40 and a twelve month high of $87.84. The firm has a market cap of $91,067.12, a PE ratio of 50.96, a P/E/G ratio of 2.01 and a beta of 1.02. The company has a current ratio of 1.53, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40.
Schlumberger N.V. (NYSE:SLB) last released its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Schlumberger N.V. had a net margin of 1.86% and a return on equity of 4.42%. The business had revenue of $7.91 billion for the quarter, compared to analysts’ expectations of $7.91 billion. During the same period in the previous year, the company earned $0.25 earnings per share. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. analysts predict that Schlumberger N.V. will post 1.47 EPS for the current year.
In related news, Director Tore I. Sandvold sold 3,500 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total transaction of $219,205.00. Following the transaction, the director now directly owns 1,500 shares in the company, valued at $93,945. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently 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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