State of Tennessee Treasury Department reduced its stake in shares of Schlumberger N.V. (NYSE:SLB) by 15.4% during the third quarter, Holdings Channel reports. The institutional investor owned 735,978 shares of the company’s stock after selling 133,721 shares during the period. State of Tennessee Treasury Department owned about 0.05% of Schlumberger N.V. worth $57,877,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in SLB. Capital World Investors raised its stake in shares of Schlumberger N.V. by 33.4% in the second quarter. Capital World Investors now owns 89,278,480 shares of the company’s stock valued at $7,060,142,000 after buying an additional 22,351,159 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Schlumberger N.V. by 12.8% in the second quarter. Vanguard Group Inc. now owns 88,801,969 shares of the company’s stock valued at $7,022,460,000 after buying an additional 10,096,266 shares in the last quarter. State Street Corp raised its stake in shares of Schlumberger N.V. by 10.1% in the second quarter. State Street Corp now owns 63,598,644 shares of the company’s stock valued at $5,029,383,000 after buying an additional 5,820,269 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Schlumberger N.V. by 0.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 36,026,336 shares of the company’s stock valued at $2,833,111,000 after buying an additional 118,380 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Schlumberger N.V. by 6.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 21,638,721 shares of the company’s stock valued at $1,711,191,000 after buying an additional 1,263,533 shares in the last quarter. 78.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of Schlumberger N.V. (NYSE:SLB) traded down 0.45% during trading on Friday, hitting $84.50. The stock had a trading volume of 4,758,177 shares. Schlumberger N.V. has a 52 week low of $66.10 and a 52 week high of $87.84. The company’s market capitalization is $117.58 billion. The company’s 50 day moving average price is $85.40 and its 200 day moving average price is $81.39.
Schlumberger N.V. (NYSE:SLB) last issued its earnings results on Friday, January 20th. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. Schlumberger N.V. had a positive return on equity of 3.81% and a negative net margin of 6.07%. The business earned $7.11 billion during the quarter. During the same period in the previous year, the firm earned $0.65 earnings per share. The business’s quarterly revenue was down 8.2% on a year-over-year basis. Analysts predict that Schlumberger N.V. will post $1.82 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Wednesday, February 15th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Monday, February 13th. Schlumberger N.V.’s dividend payout ratio is currently -169.49%.
SLB has been the topic of a number of recent analyst reports. Vetr raised Schlumberger N.V. from a “hold” rating to a “buy” rating and set a $95.37 price objective on the stock in a research note on Tuesday, December 13th. Credit Suisse Group boosted their price objective on Schlumberger N.V. from $94.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, January 23rd. Stephens lowered Schlumberger N.V. from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 23rd. BMO Capital Markets reissued a “buy” rating and issued a $96.00 price objective on shares of Schlumberger N.V. in a research note on Thursday, January 12th. Finally, Zacks Investment Research lowered Schlumberger N.V. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Schlumberger N.V. has an average rating of “Buy” and a consensus price target of $94.58.
In other news, VP Mark Danton sold 2,430 shares of the business’s stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $86.09, for a total value of $209,198.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Imran Kizilbash sold 134,091 shares of the business’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $86.35, for a total value of $11,578,757.85. Following the completion of the transaction, the vice president now owns 78,084 shares in the company, valued at approximately $6,742,553.40. The disclosure for this sale can be found here. Insiders have sold a total of 243,098 shares of company stock valued at $20,759,340 over the last three months. Corporate insiders own 0.36% of the company’s stock.
About Schlumberger N.V.
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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