Patten & Patten Inc. TN raised its position in shares of Schlumberger N.V. (NYSE:SLB) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,297 shares of the oil and gas company’s stock after buying an additional 512 shares during the period. Patten & Patten Inc. TN’s holdings in Schlumberger N.V. were worth $1,073,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp raised its stake in shares of Schlumberger N.V. by 1.1% in the first quarter. State Street Corp now owns 72,400,230 shares of the oil and gas company’s stock worth $5,655,994,000 after buying an additional 769,874 shares during the last quarter. Dodge & Cox bought a new stake in shares of Schlumberger N.V. during the fourth quarter worth approximately $3,954,205,000. Bank of New York Mellon Corp raised its stake in shares of Schlumberger N.V. by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 26,666,760 shares of the oil and gas company’s stock worth $2,082,673,000 after buying an additional 477,006 shares in the last quarter. Norges Bank bought a new stake in shares of Schlumberger N.V. during the fourth quarter worth approximately $1,178,888,000. Finally, Clearbridge Investments LLC raised its stake in shares of Schlumberger N.V. by 5.7% in the first quarter. Clearbridge Investments LLC now owns 12,214,777 shares of the oil and gas company’s stock worth $953,974,000 after buying an additional 655,694 shares in the last quarter. 79.65% of the stock is currently owned by institutional investors.
Shares of Schlumberger N.V. (NYSE SLB) opened at 63.32 on Friday. Schlumberger N.V. has a 12 month low of $62.93 and a 12 month high of $87.84. The company has a market cap of $87.67 billion, a P/E ratio of 498.58 and a beta of 1.02. The stock’s 50 day moving average is $66.15 and its 200-day moving average is $72.93.
Schlumberger N.V. (NYSE:SLB) last announced its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.05. The company had revenue of $7.46 billion for the quarter, compared to analysts’ expectations of $7.25 billion. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. Schlumberger N.V.’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 EPS. On average, equities analysts forecast that Schlumberger N.V. will post $1.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Wednesday, September 6th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $2.00 annualized dividend and a yield of 3.16%. Schlumberger N.V.’s dividend payout ratio is currently 1,538.58%.
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Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Schlumberger N.V. from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Scotiabank set a $90.00 target price on Schlumberger N.V. and gave the company a “buy” rating in a report on Friday, July 7th. Cowen and Company reaffirmed an “outperform” rating and issued a $99.00 target price on shares of Schlumberger N.V. in a report on Tuesday, April 25th. Iberia Capital downgraded Schlumberger N.V. from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $100.00 to $77.00 in a research note on Thursday, June 29th. Finally, Jefferies Group LLC dropped their price objective on Schlumberger N.V. from $96.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, April 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $86.21.
In other Schlumberger N.V. news, Director Tore I. Sandvold sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $69.82, for a total value of $349,100.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $349,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter L. S. Currie acquired 3,625 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was purchased at an average cost of $69.02 per share, for a total transaction of $250,197.50. Following the completion of the purchase, the director now directly owns 31,550 shares in the company, valued at approximately $2,177,581. The disclosure for this purchase can be found here. Insiders acquired a total of 14,425 shares of company stock worth $950,782 over the last three months. 0.38% of the stock is currently owned by corporate insiders.
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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