Stralem & Co. Inc. Boosts Position in Schlumberger N.V. (SLB)

Stralem & Co. Inc. increased its position in Schlumberger N.V. (NYSE:SLB) by 0.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 295,760 shares of the oil and gas company’s stock after buying an additional 1,750 shares during the period. Schlumberger N.V. makes up 2.3% of Stralem & Co. Inc.’s holdings, making the stock its 26th largest position. Stralem & Co. Inc.’s holdings in Schlumberger N.V. were worth $19,473,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of SLB. Loomis Sayles & Co. L P boosted its stake in shares of Schlumberger N.V. by 4.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 7,678,238 shares of the oil and gas company’s stock worth $644,588,000 after buying an additional 343,584 shares during the last quarter. Pacific Global Investment Management CO boosted its stake in shares of Schlumberger N.V. by 5.5% in the fourth quarter. Pacific Global Investment Management CO now owns 24,063 shares of the oil and gas company’s stock worth $2,020,000 after buying an additional 1,245 shares during the last quarter. NWQ Investment Management Company LLC boosted its stake in shares of Schlumberger N.V. by 3.8% in the fourth quarter. NWQ Investment Management Company LLC now owns 36,813 shares of the oil and gas company’s stock worth $3,090,000 after buying an additional 1,333 shares during the last quarter. STA Wealth Management LLC boosted its stake in Schlumberger N.V. by 0.3% in the fourth quarter. STA Wealth Management LLC now owns 10,070 shares of the oil and gas company’s stock valued at $845,000 after buying an additional 30 shares in the last quarter. Finally, Hilltop Holdings Inc. purchased a new stake in Schlumberger N.V. during the fourth quarter valued at about $236,000. 79.65% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Schlumberger N.V. (NYSE:SLB) traded up 0.32% during trading on Friday, reaching $63.23. The company had a trading volume of 3,034,493 shares. Schlumberger N.V. has a 52-week low of $62.93 and a 52-week high of $87.84. The firm has a market capitalization of $87.54 billion, a P/E ratio of 497.87 and a beta of 1.02. The company has a 50 day moving average of $66.21 and a 200-day moving average of $73.08.

Schlumberger N.V. (NYSE:SLB) last released its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $7.25 billion. During the same quarter in the previous year, the company posted $0.23 EPS. The business’s revenue was up 4.2% on a year-over-year basis. Equities analysts expect that Schlumberger N.V. will post $1.51 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Wednesday, September 6th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.17%. Schlumberger N.V.’s dividend payout ratio (DPR) is presently 1,538.58%.

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Several equities research analysts have issued reports on SLB shares. Barclays PLC reaffirmed an “overweight” rating and set a $107.00 price target on shares of Schlumberger N.V. in a research note on Monday, April 24th. BidaskClub lowered shares of Schlumberger N.V. from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Wells Fargo & Company reiterated an “outperform” rating on shares of Schlumberger N.V. in a report on Monday, July 10th. Guggenheim lowered shares of Schlumberger N.V. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 27th. Finally, Sanford C. Bernstein upgraded shares of Schlumberger N.V. from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $94.00 to $80.00 in a report on Thursday, July 6th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Schlumberger N.V. presently has an average rating of “Buy” and an average target price of $86.21.

In other Schlumberger N.V. news, Director Michael E. Marks acquired 8,000 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were bought at an average cost of $64.20 per share, with a total value of $513,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Tore I. Sandvold sold 5,000 shares of the business’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $69.82, for a total value of $349,100.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at $349,100. The disclosure for this sale can be found here. Insiders acquired a total of 14,425 shares of company stock worth $950,782 in the last quarter. Corporate 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.