Schlumberger N.V. (NYSE:SLB) had its price objective reduced by Loop Capital from $93.00 to $80.00 in a research note published on Tuesday, The Fly reports. They currently have a buy rating on the oil and gas company’s stock.
Several other research analysts have also issued reports on the company. Seaport Global Securities reiterated a buy rating on shares of Schlumberger N.V. in a report on Friday, July 21st. Instinet reiterated a buy rating and issued a $78.00 price target (down previously from $85.00) on shares of Schlumberger N.V. in a report on Monday. Jefferies Group LLC reiterated a buy rating and issued a $80.00 price target (down previously from $92.00) on shares of Schlumberger N.V. in a report on Monday. Credit Suisse Group set a $78.00 price target on Schlumberger N.V. and gave the stock a buy rating in a report on Monday. Finally, Goldman Sachs Group, Inc. (The) reiterated a conviction-buy rating on shares of Schlumberger N.V. in a report on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $86.40.
Schlumberger N.V. (NYSE:SLB) traded up 1.00% during trading on Tuesday, hitting $68.46. The stock had a trading volume of 10,545,393 shares. Schlumberger N.V. has a one year low of $64.15 and a one year high of $87.84. The stock has a 50 day moving average of $66.72 and a 200 day moving average of $75.09. The firm has a market capitalization of $94.82 billion, a P/E ratio of 539.06 and a beta of 1.02.
Schlumberger N.V. (NYSE:SLB) last released its earnings results on Friday, July 21st. The oil and gas company reported $0.35 EPS for the quarter, topping the consensus estimate 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 business had revenue of $7.46 billion during the quarter, compared to analysts’ expectations 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. Equities research analysts expect that Schlumberger N.V. will post $1.51 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Wednesday, September 6th will be issued a $0.50 dividend. The ex-dividend date is Friday, September 1st. This represents a $2.00 dividend on an annualized basis and a yield of 2.92%. Schlumberger N.V.’s dividend payout ratio is currently 1,538.58%.
In other news, Director Tore I. Sandvold sold 5,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $349,100. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Helge Lund purchased 2,800 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was acquired 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 currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in SLB. Hartford Financial Management Inc. increased its position in shares of Schlumberger N.V. by 2.8% in the second quarter. Hartford Financial Management Inc. now owns 3,732 shares of the oil and gas company’s stock worth $245,000 after buying an additional 101 shares during the last quarter. Parsec Financial Management Inc. increased its stake in shares of Schlumberger N.V. by 5.9% in the second quarter. Parsec Financial Management Inc. now owns 94,201 shares of the oil and gas company’s stock valued at $6,202,000 after buying an additional 5,238 shares during the last quarter. Univest Corp of Pennsylvania increased its stake in shares of Schlumberger N.V. by 1.0% in the second quarter. Univest Corp of Pennsylvania now owns 34,149 shares of the oil and gas company’s stock valued at $2,248,000 after buying an additional 331 shares during the last quarter. K.J. Harrison & Partners Inc purchased a new stake in shares of Schlumberger N.V. during the second quarter valued at about $277,000. Finally, Selway Asset Management increased its stake in shares of Schlumberger N.V. by 73.8% in the second quarter. Selway Asset Management now owns 43,451 shares of the oil and gas company’s stock valued at $2,861,000 after buying an additional 18,450 shares during the last quarter. 79.22% of the stock is owned by hedge funds and other institutional investors.
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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