Grisanti Capital Management LLC increased its stake in Schlumberger N.V. (NYSE:SLB) by 58.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,110 shares of the oil and gas company’s stock after buying an additional 33,590 shares during the period. Schlumberger N.V. comprises about 3.0% of Grisanti Capital Management LLC’s portfolio, making the stock its 15th largest position. Grisanti Capital Management LLC’s holdings in Schlumberger N.V. were worth $7,116,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Dodge & Cox bought a new stake in Schlumberger N.V. during the fourth quarter valued at $3,954,205,000. Norges Bank bought a new stake in Schlumberger N.V. during the fourth quarter valued at $1,178,888,000. American Century Companies Inc. increased its stake in Schlumberger N.V. by 30.8% in the first quarter. American Century Companies Inc. now owns 8,326,038 shares of the oil and gas company’s stock valued at $650,264,000 after buying an additional 1,959,214 shares during the last quarter. Congress Asset Management Co. MA bought a new stake in Schlumberger N.V. during the fourth quarter valued at $48,629,000. Finally, Teachers Advisors LLC increased its stake in Schlumberger N.V. by 16.5% in the fourth quarter. Teachers Advisors LLC now owns 3,478,496 shares of the oil and gas company’s stock valued at $292,020,000 after buying an additional 492,962 shares during the last quarter. 79.16% of the stock is owned by institutional investors.
Shares of Schlumberger N.V. (NYSE:SLB) opened at 67.54 on Friday. The company has a market capitalization of $93.51 billion, a P/E ratio of 531.81 and a beta of 1.02. Schlumberger N.V. has a 12-month low of $64.15 and a 12-month high of $87.84. The company’s 50 day moving average is $66.69 and its 200 day moving average is $74.58.
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, beating 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 firm had revenue of $7.46 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same period last year, the firm posted $0.23 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. Analysts expect that Schlumberger N.V. will post $1.51 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders 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 dividend yield of 2.96%. The ex-dividend date is Friday, September 1st. Schlumberger N.V.’s dividend payout ratio is presently 1,538.58%.
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A number of equities research analysts recently weighed in on the stock. BidaskClub raised shares of Schlumberger N.V. from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research downgraded shares of Schlumberger N.V. from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Loop Capital lowered their price objective on shares of Schlumberger N.V. from $93.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, July 25th. Seaport Global Securities reissued a “buy” rating on shares of Schlumberger N.V. in a research note on Friday, July 21st. Finally, Instinet reissued a “buy” rating and set a $78.00 target price (down from $85.00) on shares of Schlumberger N.V. in a research note on Monday, July 24th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $86.40.
In other Schlumberger N.V. news, Director Peter L. S. Currie bought 3,625 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was purchased at an average cost of $69.02 per share, with a total value of $250,197.50. Following the transaction, the director now directly owns 31,550 shares in the company, valued at approximately $2,177,581. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Aaron Gatt Floridia sold 40,000 shares of Schlumberger N.V. stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $69.17, for a total value of $2,766,800.00. Following the completion of the sale, the president now directly owns 96,175 shares of the company’s stock, valued at approximately $6,652,424.75. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.
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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