Pinnacle Associates Ltd. Has $19.05 Million Stake in Schlumberger N.V. (SLB)

Pinnacle Associates Ltd. lowered its stake in Schlumberger N.V. (NYSE:SLB) by 1.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 243,967 shares of the oil and gas company’s stock after selling 4,021 shares during the period. Pinnacle Associates Ltd.’s holdings in Schlumberger N.V. were worth $19,054,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Wealth Architects LLC grew its stake in shares of Schlumberger N.V. by 0.3% in the 1st quarter. Wealth Architects LLC now owns 4,003 shares of the oil and gas company’s stock valued at $313,000 after purchasing an additional 13 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management lifted its stake in shares of Schlumberger N.V. by 0.5% in the 1st quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 3,720 shares of the oil and gas company’s stock valued at $291,000 after purchasing an additional 18 shares during the period. Syntal Capital Partners LLC lifted its stake in shares of Schlumberger N.V. by 0.5% in the 1st quarter. Syntal Capital Partners LLC now owns 5,613 shares of the oil and gas company’s stock valued at $439,000 after purchasing an additional 29 shares during the period. North Star Investment Management Corp. lifted its stake in shares of Schlumberger N.V. by 1.0% in the 1st quarter. North Star Investment Management Corp. now owns 3,965 shares of the oil and gas company’s stock valued at $310,000 after purchasing an additional 39 shares during the period. Finally, Winch Advisory Services LLC lifted its stake in shares of Schlumberger N.V. by 1.2% in the 1st quarter. Winch Advisory Services LLC now owns 5,552 shares of the oil and gas company’s stock valued at $434,000 after purchasing an additional 65 shares during the period. 78.99% of the stock is owned by institutional investors.

A number of research firms recently commented on SLB. UBS AG set a $90.00 price objective on shares of Schlumberger N.V. and gave the company a “buy” rating in a research report on Friday, June 16th. Jefferies Group LLC restated a “buy” rating and issued a $80.00 price objective (down previously from $92.00) on shares of Schlumberger N.V. in a research report on Monday, July 24th. Credit Suisse Group set a $78.00 price objective on shares of Schlumberger N.V. and gave the company a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research cut Schlumberger N.V. from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, BidaskClub upgraded Schlumberger N.V. from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $85.80.

ILLEGAL ACTIVITY NOTICE: “Pinnacle Associates Ltd. Has $19.05 Million Stake in Schlumberger N.V. (SLB)” was first reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://stocknewstimes.com/2017/09/13/pinnacle-associates-ltd-lowers-position-in-schlumberger-n-v-slb.html.

Schlumberger N.V. (NYSE:SLB) traded up 0.911% during mid-day trading on Wednesday, hitting $67.035. 3,241,259 shares of the company’s stock were exchanged. Schlumberger N.V. has a 12 month low of $62.56 and a 12 month high of $87.84. The stock’s 50 day moving average price is $65.23 and its 200-day moving average price is $70.79. The stock has a market cap of $92.81 billion, a PE ratio of 527.835 and a beta of 1.03.

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

The firm 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 dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, September 1st. Schlumberger N.V.’s dividend payout ratio is currently 1,538.58%.

In related news, Director Helge Lund bought 2,800 shares of the company’s stock in a transaction dated Monday, July 24th. The stock was purchased at an average cost of $66.78 per share, with a total value of $186,984.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael E. Marks bought 8,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was bought at an average cost of $64.20 per share, with a total value of $513,600.00. The disclosure for this purchase can be found here. 0.38% of the stock is currently owned by company insiders.

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.

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

Receive News & Ratings for Schlumberger N.V. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger N.V. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply