MCF Advisors LLC boosted its stake in Schlumberger N.V. (NYSE:SLB) by 130.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,617 shares of the oil and gas company’s stock after buying an additional 915 shares during the period. MCF Advisors LLC’s holdings in Schlumberger N.V. were worth $126,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of SLB. First Trust Advisors LP raised its position in shares of Schlumberger N.V. by 26.1% in the first quarter. First Trust Advisors LP now owns 242,223 shares of the oil and gas company’s stock worth $18,918,000 after buying an additional 50,077 shares during the last quarter. Rhumbline Advisers raised its position in shares of Schlumberger N.V. by 0.9% in the first quarter. Rhumbline Advisers now owns 2,366,849 shares of the oil and gas company’s stock worth $184,851,000 after buying an additional 21,026 shares during the last quarter. IndexIQ Advisors LLC raised its position in shares of Schlumberger N.V. by 170.8% in the first quarter. IndexIQ Advisors LLC now owns 18,992 shares of the oil and gas company’s stock worth $1,483,000 after buying an additional 11,980 shares during the last quarter. Eagle Ridge Investment Management raised its position in shares of Schlumberger N.V. by 3.0% in the first quarter. Eagle Ridge Investment Management now owns 42,488 shares of the oil and gas company’s stock worth $3,318,000 after buying an additional 1,246 shares during the last quarter. Finally, Chase Investment Counsel Corp raised its position in shares of Schlumberger N.V. by 20.0% in the first quarter. Chase Investment Counsel Corp now owns 3,145 shares of the oil and gas company’s stock worth $245,000 after buying an additional 525 shares during the last quarter. 79.65% of the stock is currently owned by hedge funds and other institutional investors.
Schlumberger N.V. (NYSE SLB) traded up 0.46% on Friday, hitting $63.32. 9,096,305 shares of the company were exchanged. Schlumberger N.V. has a 52 week low of $62.93 and a 52 week high of $87.84. The company has a market capitalization of $87.67 billion, a price-to-earnings ratio of 498.58 and a beta of 1.02. The stock has a 50 day moving average of $66.15 and a 200 day moving average of $72.93.
Schlumberger N.V. (NYSE:SLB) last announced its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. The company had revenue of $7.46 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same quarter last year, the firm posted $0.23 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. Analysts predict that Schlumberger N.V. will post $1.51 EPS for the current fiscal 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 given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.16%. 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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Several equities analysts recently weighed in on SLB shares. Barclays PLC restated an “overweight” rating and issued a $107.00 price objective on shares of Schlumberger N.V. in a report on Monday, April 24th. BidaskClub lowered shares of Schlumberger N.V. from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Schlumberger N.V. in a research note on Monday, July 10th. Guggenheim downgraded shares of Schlumberger N.V. from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 27th. Finally, Sanford C. Bernstein raised shares of Schlumberger N.V. from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $94.00 to $80.00 in a research note on Thursday, July 6th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Schlumberger N.V. presently has an average rating of “Buy” and a consensus target price of $86.21.
In other Schlumberger N.V. news, Director Tore I. Sandvold sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $69.82, for a total transaction of $349,100.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at $349,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael E. Marks purchased 8,000 shares of the stock in a transaction dated Friday, August 11th. The stock was bought at an average cost of $64.20 per share, with a total value of $513,600.00. The disclosure for this purchase can be found here. Insiders have acquired 14,425 shares of company stock valued at $950,782 in the last three months. 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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