The Schlumberger NV (SLB) Stake Increased by Headinvest LLC

The Schlumberger NV (SLB) Stake Increased by Headinvest LLC

Headinvest LLC boosted its position in Schlumberger NV (NYSE:SLB) by 1.7% during the second quarter, Holdings Channel reports. The fund owned 49,125 shares of the company’s stock after buying an additional 835 shares during the period. Schlumberger NV makes up approximately 1.5% of Headinvest LLC’s holdings, making the stock its 26th largest position. Headinvest LLC’s holdings in Schlumberger NV were worth $3,885,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of SLB. Bank of Montreal Can purchased a new position in Schlumberger NV during the second quarter worth about $182,448,000. State Street Corp increased its stake in shares of Schlumberger NV by 2.6% in the first quarter. State Street Corp now owns 57,778,375 shares of the company’s stock worth $4,261,159,000 after buying an additional 1,485,126 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in shares of Schlumberger NV during the first quarter worth $46,113,000. Virginia Retirement System bought a new stake in shares of Schlumberger NV during the first quarter worth $31,620,000. Finally, Loomis Sayles & Co. L P increased its stake in shares of Schlumberger NV by 6.4% in the first quarter. Loomis Sayles & Co. L P now owns 6,755,690 shares of the company’s stock worth $498,233,000 after buying an additional 408,901 shares during the last quarter. 78.39% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger NV (NYSE:SLB) traded down 0.31% during midday trading on Wednesday, hitting $81.44. The company had a trading volume of 4,059,726 shares. The stock has a 50 day moving average of $78.67 and a 200 day moving average of $78.02. The firm’s market cap is $113.26 billion. Schlumberger NV has a 52-week low of $59.60 and a 52-week high of $83.97.

Schlumberger NV (NYSE:SLB) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $7.16 billion for the quarter, compared to analysts’ expectations of $7.09 billion. Schlumberger NV had a positive return on equity of 6.88% and a negative net margin of 5.64%. On average, analysts anticipate that Schlumberger NV will post $1.12 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Wednesday, September 7th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Friday, September 2nd. Schlumberger NV’s dividend payout ratio is currently -168.07%.

SLB has been the topic of a number of recent research reports. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Schlumberger NV in a research report on Thursday, June 30th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating on shares of Schlumberger NV in a research report on Tuesday, July 5th. Guggenheim reaffirmed a “buy” rating on shares of Schlumberger NV in a research report on Wednesday, August 31st. Jefferies Group reaffirmed a “hold” rating on shares of Schlumberger NV in a research report on Thursday, June 30th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $89.00 price objective (down previously from $90.00) on shares of Schlumberger NV in a research report on Thursday, June 23rd. Four research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $90.69.

In other Schlumberger NV news, insider Howard Guild sold 11,900 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $81.32, for a total transaction of $967,708.00. Following the sale, the insider now owns 19,781 shares in the company, valued at approximately $1,608,590.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Simon Ayat sold 50,000 shares of the stock in a transaction 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 owns 153,335 shares in the company, valued at approximately $12,831,072.80. 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.

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