Trading Report: The Atalanta Sosnoff Capital LLC Acquires 181,380 Shares of Schlumberger NV (SLB)

The Atalanta Sosnoff Capital LLC Acquires 181,380 Shares of Schlumberger NV (SLB)

Atalanta Sosnoff Capital LLC boosted its stake in Schlumberger NV (NYSE:SLB) by 27.7% during the second quarter, Holdings Channel reports. The institutional investor owned 836,797 shares of the company’s stock after buying an additional 181,380 shares during the period. Schlumberger NV comprises approximately 2.2% of Atalanta Sosnoff Capital LLC’s portfolio, making the stock its 15th largest position. Atalanta Sosnoff Capital LLC’s holdings in Schlumberger NV were worth $66,174,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. New Harbor Financial Group LLC increased its stake 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 during the last quarter. Trust Department MB Financial Bank N A increased its stake 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 during the last quarter. North Star Investment Management Corp. increased its stake 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 during the last quarter. FCM Investments TX increased its stake 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 during the last quarter. Finally, Brookfield Asset Management Inc. increased its stake 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 during the last quarter. Institutional investors and hedge funds own 78.39% of the company’s stock.

Schlumberger NV (NYSE:SLB) traded down 0.14% on Friday, reaching $81.31. The company’s stock had a trading volume of 5,305,592 shares. Schlumberger NV has a 12 month low of $59.60 and a 12 month high of $83.97. The company’s market cap is $113.08 billion. The company has a 50-day moving average price of $78.71 and a 200 day moving average price of $77.85.

Schlumberger NV (NYSE:SLB) last posted its 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 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%. On average, equities research analysts anticipate that Schlumberger NV will post $1.12 EPS for the current fiscal year.

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

Several equities research analysts recently weighed in on SLB shares. Howard Weil upped their price objective on shares of Schlumberger NV from $80.00 to $90.00 and gave the stock a “sector outperform” rating in a report on Monday, July 25th. Scotiabank reaffirmed a “sector outperform” rating and issued a $90.00 price objective (up previously from $80.00) on shares of Schlumberger NV in a report on Tuesday, July 26th. Goldman Sachs Group Inc. set a $100.00 price objective on shares of Schlumberger NV and gave the stock a “buy” rating in a report on Monday, July 25th. Simmons reaffirmed an “outperform” rating and issued a $84.00 price objective (down previously from $86.00) on shares of Schlumberger NV in a report on Monday, June 20th. Finally, Seaport Global Securities reaffirmed a “buy” rating on shares of Schlumberger NV in a report on Friday, August 19th. Four analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $90.59.

In related news, CFO Simon Ayat sold 50,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 153,335 shares in the company, valued at approximately $12,831,072.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael E. Marks sold 13,600 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $81.19, for a total value of $1,104,184.00. The disclosure for this sale can be found here. Corporate 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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