Investors Sell Shares of Schlumberger N.V. (SLB) on Strength After Analyst Downgrade

Investors sold shares of Schlumberger N.V. (NYSE:SLB) on strength during trading on Friday after Loop Capital lowered their price target on the stock from $80.00 to $75.00. $139.41 million flowed into the stock on the tick-up and $182.76 million flowed out of the stock on the tick-down, for a money net flow of $43.35 million out of the stock. Of all stocks tracked, Schlumberger N.V. had the 0th highest net out-flow for the day. Schlumberger N.V. traded up $0.18 for the day and closed at $63.55

SLB has been the topic of several other research reports. Zacks Investment Research raised shares of Schlumberger N.V. from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Scotiabank set a $90.00 price objective on shares of Schlumberger N.V. and gave the company a “buy” rating in a research note on Friday, July 7th. FBR & Co reiterated a “buy” rating on shares of Schlumberger N.V. in a research note on Friday, October 20th. Piper Jaffray Companies set a $74.00 price objective on shares of Schlumberger N.V. and gave the company a “buy” rating in a research note on Saturday, October 21st. Finally, Iberia Capital lowered shares of Schlumberger N.V. from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $100.00 to $77.00 in a research note on Thursday, June 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $80.08.

In other Schlumberger N.V. news, Director Tore I. Sandvold sold 3,500 shares of the firm’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total value of $219,205.00. Following the completion of the transaction, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $93,945. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael E. Marks purchased 8,000 shares of the business’s stock in a transaction on Friday, August 11th. The stock was purchased at an average cost of $64.20 per share, with a total value of $513,600.00. The disclosure for this purchase can be found here. 0.38% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in SLB. CGOV Asset Management boosted its holdings in Schlumberger N.V. by 27.1% in the 1st quarter. CGOV Asset Management now owns 41,300 shares of the oil and gas company’s stock valued at $4,297,000 after purchasing an additional 8,800 shares during the period. Waldron LP boosted its holdings in Schlumberger N.V. by 76.5% in the 1st quarter. Waldron LP now owns 7,270 shares of the oil and gas company’s stock valued at $568,000 after purchasing an additional 3,150 shares during the period. BTC Capital Management Inc. boosted its holdings in Schlumberger N.V. by 8.1% in the 1st quarter. BTC Capital Management Inc. now owns 66,431 shares of the oil and gas company’s stock valued at $5,188,000 after purchasing an additional 4,984 shares during the period. Wesbanco Bank Inc. boosted its holdings in Schlumberger N.V. by 18.7% in the 1st quarter. Wesbanco Bank Inc. now owns 92,999 shares of the oil and gas company’s stock valued at $7,263,000 after purchasing an additional 14,683 shares during the period. Finally, Welch & Forbes LLC boosted its holdings in Schlumberger N.V. by 1.3% in the 1st quarter. Welch & Forbes LLC now owns 624,112 shares of the oil and gas company’s stock valued at $48,743,000 after purchasing an additional 7,949 shares during the period. 78.89% of the stock is owned by hedge funds and other institutional investors.

The stock has a market capitalization of $87.99 billion, a PE ratio of 500.39 and a beta of 1.05. The company’s 50-day moving average is $67.09 and its 200 day moving average is $68.25.

Schlumberger N.V. (NYSE:SLB) last announced its quarterly earnings data on Friday, October 20th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.42. The firm had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $7.91 billion. Schlumberger N.V. had a net margin of 1.86% and a return on equity of 4.42%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 earnings per share. On average, analysts anticipate that Schlumberger N.V. will post $1.50 earnings per share for the current year.

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About Schlumberger N.V.

Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.

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