Todays Report: The Portland Global Advisors LLC Acquires 609 Shares of Schlumberger NV (SLB)

The Portland Global Advisors LLC Acquires 609 Shares of Schlumberger NV (SLB)

Portland Global Advisors LLC raised its stake in Schlumberger NV (NYSE:SLB) by 2.5% during the second quarter, Holdings Channel reports. The institutional investor owned 25,204 shares of the company’s stock after buying an additional 609 shares during the period. Schlumberger NV comprises about 0.9% of Portland Global Advisors LLC’s portfolio, making the stock its 29th largest position. Portland Global Advisors LLC’s holdings in Schlumberger NV were worth $1,993,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Harbor Financial Group LLC boosted its position in Schlumberger NV by 50.0% in the second quarter. New Harbor Financial Group LLC now owns 1,500 shares of the company’s stock valued at $118,000 after buying an additional 500 shares in the last quarter. Trust Department MB Financial Bank N A boosted its position in Schlumberger NV by 9.6% in the second quarter. Trust Department MB Financial Bank N A now owns 1,753 shares of the company’s stock valued at $139,000 after buying an additional 153 shares in the last quarter. North Star Investment Management Corp. boosted its position in Schlumberger NV by 23.6% in the second quarter. North Star Investment Management Corp. now owns 1,830 shares of the company’s stock valued at $145,000 after buying an additional 350 shares in the last quarter. FCM Investments TX boosted its position in Schlumberger NV by 25.0% in the second quarter. FCM Investments TX now owns 2,000 shares of the company’s stock valued at $158,000 after buying an additional 400 shares in the last quarter. Finally, Cornerstone Advisors Inc. boosted its position in Schlumberger NV by 23.0% in the second quarter. Cornerstone Advisors Inc. now owns 2,084 shares of the company’s stock valued at $165,000 after buying an additional 390 shares in the last quarter. 78.39% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger NV (NYSE:SLB) traded up 0.11% during mid-day trading on Thursday, hitting $81.53. The company’s stock had a trading volume of 4,651,957 shares. The company’s market cap is $113.38 billion. Schlumberger NV has a 12-month low of $59.60 and a 12-month high of $83.97. The firm’s 50-day moving average is $78.66 and its 200-day moving average is $78.04.

Schlumberger NV (NYSE:SLB) last announced its quarterly 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. The firm earned $7.16 billion during the quarter, compared to analyst estimates of $7.09 billion. Schlumberger NV had a positive return on equity of 6.88% and a negative net margin of 5.64%. Analysts predict that Schlumberger NV will post $1.12 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Wednesday, September 7th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, September 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.45%. Schlumberger NV’s dividend payout ratio is currently -168.07%.

A number of brokerages have recently commented on SLB. Citigroup Inc. upped their price target on Schlumberger NV from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Tuesday. Loop Capital began coverage on Schlumberger NV in a research report on Friday, September 30th. They set a “buy” rating and a $90.00 price target on the stock. Guggenheim reaffirmed a “buy” rating on shares of Schlumberger NV in a research report on Wednesday, August 31st. Seaport Global Securities reaffirmed a “buy” rating on shares of Schlumberger NV in a research report on Friday, August 19th. Finally, Nomura set a $91.00 price target on Schlumberger NV and gave the company a “buy” rating in a research report on Tuesday, August 16th. Four equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Schlumberger NV has an average rating of “Buy” and a consensus target price of $90.69.

In other Schlumberger NV news, VP Stephane Biguet sold 4,227 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $78.52, for a total transaction of $331,904.04. Following the completion of the sale, the vice president now owns 7,108 shares in the company, valued at $558,120.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Tore I. Sandvold sold 2,500 shares of the company’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $78.09, for a total value of $195,225.00. Following the sale, the director now owns 17,750 shares of the company’s stock, valued at approximately $1,386,097.50. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

Schlumberger NV Company Profile

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.

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