APG Asset Management N.V. Reduces Stake in Schlumberger N.V. (NYSE:SLB)

APG Asset Management N.V. reduced its stake in Schlumberger N.V. (NYSE:SLB) by 26.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 972,292 shares of the oil and gas company’s stock after selling 350,200 shares during the period. APG Asset Management N.V. owned about 0.07% of Schlumberger N.V. worth $75,936,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. SRS Capital Advisors Inc. acquired a new stake in Schlumberger N.V. during the fourth quarter valued at $101,000. Rocky Mountain Advisers LLC increased its stake in Schlumberger N.V. by 9,507.1% in the fourth quarter. Rocky Mountain Advisers LLC now owns 1,345 shares of the oil and gas company’s stock valued at $113,000 after buying an additional 1,331 shares in the last quarter. American Research & Management Co. increased its stake in Schlumberger N.V. by 8.5% in the first quarter. American Research & Management Co. now owns 1,356 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 106 shares in the last quarter. Advantage Investment Management LLC acquired a new stake in Schlumberger N.V. during the fourth quarter valued at $127,000. Finally, Jackson Grant Investment Advisers Inc. acquired a new stake in Schlumberger N.V. during the fourth quarter valued at $160,000. 79.22% of the stock is owned by institutional investors and hedge funds.

Shares of Schlumberger N.V. (SLB) opened at 68.46 on Friday. The stock has a 50 day moving average of $66.73 and a 200-day moving average of $74.96. The stock has a market capitalization of $94.82 billion, a PE ratio of 539.06 and a beta of 1.02. Schlumberger N.V. has a 52 week low of $64.15 and a 52 week high of $87.84.

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 Zacks’ 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 firm had revenue of $7.46 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same quarter in the prior year, the firm posted $0.23 earnings per share. Schlumberger N.V.’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities research analysts expect 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. Investors of record on Wednesday, September 6th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, September 1st. Schlumberger N.V.’s dividend payout ratio is currently 1,538.58%.

Several analysts have weighed in on the stock. UBS AG set a $90.00 price target on shares of Schlumberger N.V. and gave the stock a “buy” rating in a research note on Friday, June 16th. Seaport Global Securities reaffirmed a “buy” rating on shares of Schlumberger N.V. in a research note on Friday, July 21st. BidaskClub downgraded shares of Schlumberger N.V. from a “sell” rating to a “strong sell” rating in a research note on Thursday. Jefferies Group LLC reaffirmed a “buy” rating and set a $80.00 price objective (down from $92.00) on shares of Schlumberger N.V. in a research note on Monday, July 24th. Finally, Instinet reaffirmed a “buy” rating and set a $78.00 price objective (down from $85.00) on shares of Schlumberger N.V. in a research note on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $86.40.

In other news, Director Helge Lund acquired 2,800 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average price 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 at the SEC website. Also, Director Tore I. Sandvold sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were 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 directly owns 5,000 shares in the company, valued at approximately $349,100. The disclosure for this sale can be found here. Corporate 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.