Trading Report: The First American Bank invests in Schlumberger NV (SLB) Shares

The First American Bank invests in Schlumberger NV (SLB) Shares

First American Bank raised its position in shares of Schlumberger NV (NYSE:SLB) by 38.1% during the third quarter, Holdings Channel reports. The firm owned 7,481 shares of the company’s stock after buying an additional 2,064 shares during the period. First American Bank’s holdings in Schlumberger NV were worth $588,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SLB. Invictus RG boosted its position in shares of Schlumberger NV by 379.2% in the second quarter. Invictus RG now owns 1,313 shares of the company’s stock worth $104,000 after buying an additional 1,039 shares in the last quarter. Roble Belko & Company Inc purchased a new position in shares of Schlumberger NV during the second quarter worth $108,000. Proficio Capital Partners LLC boosted its position in shares of Schlumberger NV by 78.3% in the second quarter. Proficio Capital Partners LLC now owns 1,426 shares of the company’s stock worth $113,000 after buying an additional 626 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in shares of Schlumberger NV during the second quarter worth $114,000. Finally, New Harbor Financial Group LLC boosted its position in shares of Schlumberger NV by 50.0% in the second quarter. New Harbor Financial Group LLC now owns 1,500 shares of the company’s stock worth $118,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 78.84% of the company’s stock.

Shares of Schlumberger NV (NYSE:SLB) traded down 0.14% during mid-day trading on Friday, reaching $81.29. The company’s stock had a trading volume of 1,819,739 shares. The firm’s market cap is $113.10 billion. Schlumberger NV has a 12-month low of $59.60 and a 12-month high of $84.30. The firm’s 50-day moving average price is $80.41 and its 200 day moving average price is $78.92.

Schlumberger NV (NYSE:SLB) last posted its quarterly earnings data on Thursday, October 20th. The company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.03. The firm earned $7 billion during 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 quarter last year, the firm earned $0.78 EPS. On average, analysts expect that Schlumberger NV will post $1.16 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Wednesday, December 7th will be given a $0.50 dividend. The ex-dividend date is Monday, December 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.46%. Schlumberger NV’s payout ratio is -108.70%.

A number of equities analysts recently weighed in on the company. Citigroup Inc. decreased their price objective on Schlumberger NV from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, September 12th. Vetr reaffirmed a “buy” rating on shares of Schlumberger NV in a research note on Tuesday, August 2nd. Zacks Investment Research cut Schlumberger NV from a “hold” rating to a “sell” rating in a research note on Tuesday, October 18th. Jefferies Group set a $89.00 price target on Schlumberger NV and gave the stock a “hold” rating in a research note on Tuesday, October 18th. Finally, Seaport Global Securities reaffirmed a “buy” rating on shares of Schlumberger NV in a research note on Friday, August 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $91.01.

In other news, Director Michael E. Marks sold 13,600 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $81.19, for a total value of $1,104,184.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mark Danton sold 10,000 shares of the firm’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $79.99, for a total value of $799,900.00. Following the completion of the sale, the vice president now directly owns 27,037 shares of the company’s stock, valued at approximately $2,162,689.63. The disclosure for this sale can be found here. 0.36% of the stock is owned by 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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