Buckingham Capital Management Inc. boosted its position in Schlumberger NV (NYSE:SLB) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,934 shares of the company’s stock after buying an additional 1,268 shares during the period. Buckingham Capital Management Inc.’s holdings in Schlumberger NV were worth $2,288,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. FormulaFolio Investments LLC increased its stake in shares of Schlumberger NV by 0.6% in the second quarter. FormulaFolio Investments LLC now owns 3,319 shares of the company’s stock valued at $262,000 after buying an additional 20 shares in the last quarter. Bowling Portfolio Management LLC boosted its stake in Schlumberger NV by 0.5% in the second quarter. Bowling Portfolio Management LLC now owns 6,354 shares of the company’s stock worth $502,000 after buying an additional 33 shares during the period. River Wealth Advisors LLC boosted its stake in Schlumberger NV by 0.3% in the second quarter. River Wealth Advisors LLC now owns 17,654 shares of the company’s stock worth $1,396,000 after buying an additional 46 shares during the period. First United Bank Trust boosted its stake in Schlumberger NV by 0.4% in the second quarter. First United Bank Trust now owns 12,076 shares of the company’s stock worth $955,000 after buying an additional 52 shares during the period. Finally, Traynor Capital Management Inc. boosted its stake in Schlumberger NV by 1.1% in the second quarter. Traynor Capital Management Inc. now owns 5,151 shares of the company’s stock worth $399,000 after buying an additional 56 shares during the period. Institutional investors own 78.39% of the company’s stock.
Shares of Schlumberger NV (NYSE:SLB) opened at 81.44 on Thursday. Schlumberger NV has a 52-week low of $59.60 and a 52-week high of $83.97. The firm’s 50 day moving average is $78.66 and its 200-day moving average is $78.04. The company’s market capitalization is $113.26 billion.
Schlumberger NV (NYSE:SLB) last released its earnings results on Thursday, July 21st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. Schlumberger NV had a negative net margin of 5.64% and a positive return on equity of 6.88%. The company had revenue of $7.16 billion for the quarter, compared to the consensus estimate of $7.09 billion. Equities research analysts anticipate that Schlumberger NV will post $1.12 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Wednesday, September 7th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, September 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.46%. Schlumberger NV’s payout ratio is presently -168.07%.
A number of research firms have recently commented on SLB. Seaport Global Securities restated a “buy” rating on shares of Schlumberger NV in a research report on Friday, August 19th. Citigroup Inc. raised their target price on Schlumberger NV from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Tuesday. Nomura set a $91.00 target price on Schlumberger NV and gave the company a “buy” rating in a research report on Tuesday, August 16th. JPMorgan Chase & Co. restated a “buy” rating on shares of Schlumberger NV in a research report on Friday, July 22nd. Finally, Goldman Sachs Group Inc. set a $100.00 target price on Schlumberger NV and gave the company a “buy” rating in a research report on Monday, July 25th. Four analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $90.69.
In related news, CFO Simon Ayat sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $83.68, for a total value of $4,184,000.00. Following the sale, the chief financial officer now directly owns 153,335 shares in the company, valued at approximately $12,831,072.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tore I. Sandvold sold 2,500 shares of the stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $78.09, for a total transaction of $195,225.00. Following the completion of the sale, the director now owns 17,750 shares in the company, valued at $1,386,097.50. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
About Schlumberger NV
Schlumberger N.V. is a supplier of technology, integrated project management and information solutions to the international oil and gas exploration and production industry. The Company operates in the oilfield service markets through three groups: Reservoir Characterization, Drilling and Production. Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.