Summit Financial Group Inc. bought a new position in shares of Schlumberger N.V. (NYSE:SLB) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,787 shares of the oil and gas company’s stock, valued at approximately $1,369,000. Schlumberger N.V. makes up approximately 1.2% of Summit Financial Group Inc.’s investment portfolio, making the stock its 23rd biggest position.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Rockland Trust Co. grew its position in Schlumberger N.V. by 3.6% in the second quarter. Rockland Trust Co. now owns 184,189 shares of the oil and gas company’s stock valued at $12,127,000 after acquiring an additional 6,365 shares in the last quarter. Legacy Capital Partners Inc. grew its position in shares of Schlumberger N.V. by 0.8% during the second quarter. Legacy Capital Partners Inc. now owns 20,499 shares of the oil and gas company’s stock worth $1,350,000 after buying 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. Finally, 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. 78.89% of the stock is owned by hedge funds and other institutional investors.
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In other news, 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 completion of the transaction, the director now directly owns 1,500 shares in the company, valued at $93,945. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael E. Marks bought 8,000 shares of the stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $64.20 per share, with a total value of $513,600.00. The disclosure for this purchase can be found here. Company insiders own 0.38% of the company’s stock.
Shares of Schlumberger N.V. (NYSE SLB) opened at 63.55 on Friday. Schlumberger N.V. has a 12 month low of $61.40 and a 12 month high of $87.84. The company has a market capitalization of $87.99 billion, a PE 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 issued its quarterly earnings data on Friday, October 20th. The oil and gas company reported $0.42 EPS for the quarter, hitting 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 business 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 posted $0.25 earnings per share. Schlumberger N.V.’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts predict that Schlumberger N.V. will post $1.50 EPS for the current 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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