Rockland Trust Co. increased its holdings in shares of Schlumberger N.V. (NYSE:SLB) by 3.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 184,189 shares of the oil and gas company’s stock after purchasing an additional 6,365 shares during the quarter. Schlumberger N.V. accounts for about 1.9% of Rockland Trust Co.’s investment portfolio, making the stock its 17th largest holding. Rockland Trust Co.’s holdings in Schlumberger N.V. were worth $12,127,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Legacy Capital Partners Inc. grew its position in Schlumberger N.V. by 0.8% in the second quarter. Legacy Capital Partners Inc. now owns 20,499 shares of the oil and gas company’s stock valued at $1,350,000 after acquiring an additional 165 shares in the last quarter. Global X Management Co. LLC grew its position in shares of Schlumberger N.V. by 16.0% during the second quarter. Global X Management Co. LLC now owns 13,195 shares of the oil and gas company’s stock worth $869,000 after buying an additional 1,823 shares in the last quarter. HL Financial Services LLC grew its position in shares of Schlumberger N.V. by 5.5% during the second quarter. HL Financial Services LLC now owns 72,031 shares of the oil and gas company’s stock worth $4,742,000 after buying an additional 3,755 shares in the last quarter. Pineno Levin & Ford Asset Management Inc. grew its position in shares of Schlumberger N.V. by 4.1% during the second quarter. Pineno Levin & Ford Asset Management Inc. now owns 34,969 shares of the oil and gas company’s stock worth $2,302,000 after buying an additional 1,385 shares in the last quarter. Finally, Seven Bridges Advisors LLC grew its position in shares of Schlumberger N.V. by 11.4% during the second quarter. Seven Bridges Advisors LLC now owns 16,637 shares of the oil and gas company’s stock worth $1,095,000 after buying an additional 1,709 shares in the last quarter. 78.89% of the stock is owned by hedge funds and other institutional investors.
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In other Schlumberger N.V. news, Director Michael E. Marks bought 8,000 shares of the stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of $64.20 per share, for a total transaction of $513,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tore I. Sandvold sold 3,500 shares of Schlumberger N.V. stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total transaction of $219,205.00. Following the transaction, the director now owns 1,500 shares of the company’s stock, valued at $93,945. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.
Schlumberger N.V. (SLB) opened at 63.55 on Friday. Schlumberger N.V. has a 1-year low of $61.40 and a 1-year high of $87.84. The firm has a market cap of $87.99 billion, a price-to-earnings ratio of 500.39 and a beta of 1.05. The firm has a 50-day moving average price of $67.09 and a 200-day moving average price of $68.25.
Schlumberger N.V. (NYSE:SLB) last released its earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. Schlumberger N.V. had a net margin of 1.86% and a return on equity of 4.42%. The firm had revenue of $7.91 billion during the quarter, compared to analyst estimates of $7.91 billion. During the same period last year, the business earned $0.25 earnings per share. The business’s revenue was up 12.6% on a year-over-year basis. On average, analysts expect that Schlumberger N.V. will post $1.50 earnings per share for the current fiscal year.
SLB has been the topic of several research analyst reports. Jefferies Group LLC reiterated a “buy” rating and issued a $92.00 target price on shares of Schlumberger N.V. in a research note on Friday, June 30th. Zacks Investment Research cut shares of Schlumberger N.V. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. BidaskClub upgraded shares of Schlumberger N.V. from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Sanford C. Bernstein upgraded shares of Schlumberger N.V. from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $94.00 to $80.00 in a research note on Thursday, July 6th. They noted that the move was a valuation call. Finally, 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $80.08.
Schlumberger N.V. Company Profile
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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