Trading Report: The Aviance Capital Management LLC decides to keep it stake in Schlumberger NV (SLB) to the level of $1,707,000

The Aviance Capital Management LLC decides to keep it stake in Schlumberger NV (SLB) to the level of $1,707,000

Aviance Capital Management LLC increased its stake in shares of Schlumberger NV (NYSE:SLB) by 23.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,591 shares of the company’s stock after buying an additional 4,102 shares during the period. Aviance Capital Management LLC’s holdings in Schlumberger NV were worth $1,707,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. New Harbor Financial Group LLC increased 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 increased 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. increased 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 increased 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, Brookfield Asset Management Inc. increased its position in Schlumberger NV by 72.1% in the first quarter. Brookfield Asset Management Inc. now owns 2,220 shares of the company’s stock valued at $164,000 after buying an additional 930 shares in the last quarter. 78.39% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger NV (NYSE:SLB) traded down 0.26% during midday trading on Friday, hitting $81.32. The company had a trading volume of 4,681,503 shares. Schlumberger NV has a 52-week low of $59.60 and a 52-week high of $83.97. The stock’s market cap is $113.09 billion. The stock’s 50-day moving average price is $78.67 and its 200-day moving average price is $78.13.

Schlumberger NV (NYSE:SLB) last posted 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 positive return on equity of 6.88% and a negative net margin of 5.64%. The firm had revenue of $7.16 billion for the quarter, compared to analyst estimates of $7.09 billion. On average, equities research analysts expect that Schlumberger NV will post $1.12 EPS for the current fiscal year.

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

A number of equities analysts recently issued reports on the company. Seaport Global Securities restated a “buy” rating on shares of Schlumberger NV in a report on Friday, August 19th. Citigroup Inc. boosted their price objective on Schlumberger NV from $89.00 to $93.00 and gave the company a “buy” rating in a report on Tuesday. Nomura set a $91.00 price objective on Schlumberger NV and gave the company a “buy” rating in a report on Tuesday, August 16th. JPMorgan Chase & Co. restated a “buy” rating on shares of Schlumberger NV in a report on Friday, July 22nd. Finally, Goldman Sachs Group Inc. set a $100.00 price objective on Schlumberger NV and gave the company a “buy” rating in a report on Monday, July 25th. Four analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average 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 business’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $81.32, for a total value of $967,708.00. Following the completion of the transaction, the insider now directly owns 19,781 shares in the company, valued at approximately $1,608,590.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Simon Ayat sold 50,000 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 153,335 shares of the company’s stock, valued at $12,831,072.80. The disclosure for this sale can be found here. 0.36% of the stock is owned by company insiders.

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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