Inverness Counsel LLC NY Cuts Stake in Schlumberger N.V. (SLB)

Inverness Counsel LLC NY lessened its holdings in Schlumberger N.V. (NYSE:SLB) by 26.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 236,522 shares of the oil and gas company’s stock after selling 87,084 shares during the quarter. Inverness Counsel LLC NY’s holdings in Schlumberger N.V. were worth $15,573,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SLB. Tradewinds Capital Management LLC increased its holdings in Schlumberger N.V. by 29.8% during the first quarter. Tradewinds Capital Management LLC now owns 1,338 shares of the oil and gas company’s stock worth $104,000 after buying an additional 307 shares during the last quarter. MCF Advisors LLC increased its holdings in Schlumberger N.V. by 130.3% during the first quarter. MCF Advisors LLC now owns 1,617 shares of the oil and gas company’s stock worth $126,000 after buying an additional 915 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in Schlumberger N.V. by 18.0% during the first quarter. Proficio Capital Partners LLC now owns 2,035 shares of the oil and gas company’s stock worth $145,000 after buying an additional 310 shares during the last quarter. Baystate Wealth Management LLC increased its holdings in Schlumberger N.V. by 12.7% during the second quarter. Baystate Wealth Management LLC now owns 2,707 shares of the oil and gas company’s stock worth $181,000 after buying an additional 305 shares during the last quarter. Finally, Point View Wealth Management Inc. increased its holdings in Schlumberger N.V. by 6.6% during the first quarter. Point View Wealth Management Inc. now owns 2,574 shares of the oil and gas company’s stock worth $201,000 after buying an additional 160 shares during the last quarter. 78.90% of the stock is currently owned by institutional investors and hedge funds.

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In related news, Director Michael E. Marks bought 8,000 shares of Schlumberger N.V. stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $64.20 per share, with a total value of $513,600.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Helge Lund bought 2,800 shares of Schlumberger N.V. stock in a transaction on Monday, July 24th. The shares were bought at an average cost of $66.78 per share, with a total value of $186,984.00. The disclosure for this purchase can be found here. 0.38% of the stock is owned by insiders.

Shares of Schlumberger N.V. (NYSE SLB) opened at 67.62 on Thursday. The company has a market cap of $93.62 billion, a PE ratio of 532.44 and a beta of 1.03. The company’s 50-day moving average is $65.20 and its 200 day moving average is $70.30. Schlumberger N.V. has a 52-week low of $62.56 and a 52-week high of $87.84.

Schlumberger N.V. (NYSE:SLB) last posted its earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. The business had revenue of $7.46 billion during the quarter, compared to analyst estimates of $7.25 billion. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 EPS. On average, analysts anticipate that Schlumberger N.V. will post $1.51 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Wednesday, September 6th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Friday, September 1st. Schlumberger N.V.’s payout ratio is presently 1,538.58%.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of 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 shares of Schlumberger N.V. and gave the stock a “buy” rating in a report on Friday, July 7th. Iberia Capital downgraded shares of Schlumberger N.V. from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $100.00 to $77.00 in a report on Thursday, June 29th. Sanford C. Bernstein restated an “outperform” rating and set a $80.00 target price on shares of Schlumberger N.V. in a report on Wednesday, September 6th. Finally, Morgan Stanley boosted their target price on shares of Schlumberger N.V. from $90.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 21st. Two 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’s stock. Schlumberger N.V. presently has an average rating of “Buy” and an average price target of $85.80.

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.

Institutional Ownership by Quarter for Schlumberger N.V. (NYSE:SLB)

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