K.J. Harrison & Partners Inc Takes Position in Schlumberger N.V. (SLB)

K.J. Harrison & Partners Inc bought a new position in Schlumberger N.V. (NYSE:SLB) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,200 shares of the oil and gas company’s stock, valued at approximately $277,000.

Other hedge funds have also recently modified their holdings of the company. Tradewinds Capital Management LLC raised its stake in Schlumberger N.V. by 29.8% in the 1st quarter. Tradewinds Capital Management LLC now owns 1,338 shares of the oil and gas company’s stock worth $104,000 after acquiring an additional 307 shares during the last quarter. MCF Advisors LLC raised its stake in Schlumberger N.V. by 130.3% in the 1st quarter. MCF Advisors LLC now owns 1,617 shares of the oil and gas company’s stock worth $126,000 after acquiring an additional 915 shares during the last quarter. Proficio Capital Partners LLC raised its stake in Schlumberger N.V. by 18.0% in the 1st quarter. Proficio Capital Partners LLC now owns 2,035 shares of the oil and gas company’s stock worth $145,000 after acquiring an additional 310 shares during the last quarter. Baystate Wealth Management LLC raised its stake in shares of Schlumberger N.V. by 12.7% during the 2nd quarter. Baystate Wealth Management LLC now owns 2,707 shares of the oil and gas company’s stock valued at $181,000 after buying an additional 305 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in shares of Schlumberger N.V. by 1.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,049 shares of the oil and gas company’s stock valued at $200,000 after buying an additional 52 shares during the last quarter. Institutional investors own 78.91% of the company’s stock.

SLB has been the subject of a number of recent research reports. UBS AG set a $90.00 price objective on Schlumberger N.V. and gave the company a “buy” rating in a research note on Friday, June 16th. Scotiabank set a $90.00 price objective on Schlumberger N.V. and gave the company a “buy” rating in a research note on Friday, July 7th. Jefferies Group LLC reiterated a “buy” rating and set a $92.00 price objective on shares of Schlumberger N.V. in a research note on Friday, June 30th. BMO Capital Markets reiterated a “buy” rating and set a $89.00 price objective on shares of Schlumberger N.V. in a research note on Thursday, June 22nd. Finally, Credit Suisse Group set a $78.00 price objective on Schlumberger N.V. and gave the company a “buy” rating in a research note on Monday, July 24th. 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. Schlumberger N.V. presently has an average rating of “Buy” and a consensus price target of $83.36.

In other news, Director Helge Lund purchased 2,800 shares of the business’s stock in a transaction that occurred on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael E. Marks purchased 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased 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. Corporate insiders own 0.38% of the company’s stock.

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Schlumberger N.V. (NYSE:SLB) opened at 68.33 on Wednesday. Schlumberger N.V. has a 52 week low of $62.56 and a 52 week high of $87.84. The stock has a market cap of $94.60 billion, a price-to-earnings ratio of 538.03 and a beta of 1.05. The company has a 50 day moving average price of $66.68 and a 200 day moving average price of $69.21.

Schlumberger N.V. (NYSE:SLB) last posted its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.05. The firm had revenue of $7.46 billion during the quarter, compared to analysts’ expectations of $7.25 billion. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. Analysts expect that Schlumberger N.V. will post $1.52 EPS for the current fiscal year.

The company also recently declared 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. The ex-dividend date of this dividend is Friday, September 1st. This represents a $2.00 annualized dividend and a yield of 2.93%. Schlumberger N.V.’s dividend payout ratio is currently 1,538.58%.

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.

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

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