Lowe Brockenbrough & Co. Inc. boosted its position in Schlumberger N.V. (NYSE:SLB) by 3.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,767 shares of the oil and gas company’s stock after acquiring an additional 1,675 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Schlumberger N.V. were worth $3,652,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. First United Bank Trust raised its holdings in Schlumberger N.V. by 9.8% in the first quarter. First United Bank Trust now owns 13,135 shares of the oil and gas company’s stock valued at $1,026,000 after acquiring an additional 1,175 shares in the last quarter. Jolley Asset Management LLC increased its holdings in shares of Schlumberger N.V. by 10.0% in the 1st quarter. Jolley Asset Management LLC now owns 44,249 shares of the oil and gas company’s stock valued at $3,456,000 after acquiring an additional 4,037 shares during the period. Hartford Financial Management Inc. increased its holdings in shares of Schlumberger N.V. by 23.0% in the 1st quarter. Hartford Financial Management Inc. now owns 3,631 shares of the oil and gas company’s stock valued at $283,000 after acquiring an additional 680 shares during the period. Bollard Group LLC increased its holdings in shares of Schlumberger N.V. by 10.3% in the 1st quarter. Bollard Group LLC now owns 16,134 shares of the oil and gas company’s stock valued at $1,260,000 after acquiring an additional 1,504 shares during the period. Finally, Candriam Luxembourg S.C.A. increased its holdings in shares of Schlumberger N.V. by 2.4% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 273,890 shares of the oil and gas company’s stock valued at $21,392,000 after acquiring an additional 6,546 shares during the period. 78.99% of the stock is currently owned by hedge funds and other institutional investors.
Schlumberger N.V. (NYSE:SLB) traded up 0.6030% during mid-day trading on Wednesday, reaching $66.8306. The company’s stock had a trading volume of 2,813,416 shares. The company has a market cap of $92.53 billion, a price-to-earnings ratio of 526.2252 and a beta of 1.03. Schlumberger N.V. has a 52-week low of $62.56 and a 52-week high of $87.84. The firm has a 50 day moving average price of $65.23 and a 200 day moving average price of $70.89.
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 consensus estimate 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 company had revenue of $7.46 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same period in the previous year, the business earned $0.23 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities research analysts anticipate that Schlumberger N.V. will post $1.51 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Wednesday, September 6th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, September 1st. Schlumberger N.V.’s dividend payout ratio (DPR) is 1,538.58%.
A number of equities analysts have recently commented on SLB shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $92.00 target price on shares of Schlumberger N.V. in a report on Friday, June 30th. BMO Capital Markets restated a “buy” rating and set a $89.00 target price on shares of Schlumberger N.V. in a research report on Thursday, June 22nd. UBS AG set a $90.00 target price on shares of Schlumberger N.V. and gave the stock a “buy” rating in a research report on Friday, June 16th. Scotiabank set a $90.00 price target on Schlumberger N.V. and gave the stock a “buy” rating in a research note on Friday, July 7th. Finally, Credit Suisse Group set a $78.00 price target on Schlumberger N.V. and gave the stock a “buy” rating in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $85.80.
In related news, Director Helge Lund purchased 2,800 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was bought at an average cost of $66.78 per share, with a total value of $186,984.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael E. Marks purchased 8,000 shares of the firm’s stock in a transaction that occurred on 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. Corporate insiders own 0.38% of the company’s stock.
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Schlumberger N.V. 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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