Peak Asset Management LLC boosted its position in Schlumberger NV (NYSE:SLB) by 16.8% during the second quarter, Holdings Channel reports. The institutional investor owned 10,211 shares of the company’s stock after buying an additional 1,468 shares during the period. Peak Asset Management LLC’s holdings in Schlumberger NV were worth $807,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in SLB. First United Bank Trust raised its stake in shares of 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 last quarter. Traynor Capital Management Inc. raised its stake in shares of 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 in the last quarter. Adirondack Trust Co. raised its stake in shares of Schlumberger NV by 1.1% in the second quarter. Adirondack Trust Co. now owns 6,047 shares of the company’s stock worth $479,000 after buying an additional 64 shares in the last quarter. Fruth Investment Management raised its stake in shares of Schlumberger NV by 0.4% in the second quarter. Fruth Investment Management now owns 16,903 shares of the company’s stock worth $1,336,000 after buying an additional 71 shares in the last quarter. Finally, Newman Dignan & Sheerar Inc. raised its stake in shares of Schlumberger NV by 0.5% in the second quarter. Newman Dignan & Sheerar Inc. now owns 13,677 shares of the company’s stock worth $1,082,000 after buying an additional 72 shares in the last quarter. Institutional investors and hedge funds own 78.32% of the company’s stock.
Schlumberger NV (NYSE:SLB) traded down 0.50% during trading on Friday, hitting $79.20. The stock had a trading volume of 5,001,031 shares. Schlumberger NV has a 1-year low of $59.60 and a 1-year high of $84.30. The firm’s 50-day moving average price is $79.05 and its 200-day moving average price is $78.67. The stock’s market cap is $110.19 billion.
Schlumberger NV (NYSE:SLB) last announced its quarterly earnings results on Thursday, October 20th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7.24 billion. Schlumberger NV had a positive return on equity of 5.06% and a negative net margin of 8.78%. The business’s quarterly revenue was down 17.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 EPS. On average, equities research analysts predict that Schlumberger NV will post $1.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Wednesday, December 7th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.53%. Schlumberger NV’s payout ratio is -108.70%.
SLB has been the subject of several recent research reports. Howard Weil increased their price objective on Schlumberger NV from $80.00 to $90.00 and gave the company a “sector outperform” rating in a research note on Monday, July 25th. Scotiabank reiterated a “sector outperform” rating and set a $90.00 price target (up from $80.00) on shares of Schlumberger NV in a report on Tuesday, July 26th. Goldman Sachs Group Inc. set a $100.00 price target on Schlumberger NV and gave the stock a “buy” rating in a report on Monday, July 25th. Seaport Global Securities restated a “buy” rating on shares of Schlumberger NV in a 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the stock. Schlumberger NV has an average rating of “Buy” and an average price target of $91.12.
In other news, Director Michael E. Marks sold 13,600 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $81.19, for a total transaction of $1,104,184.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Simon Ayat sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 18th. The stock was 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 $12,831,072.80. The disclosure for this sale can be found here. 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.