Schlumberger NV (SLB) Shares Bought by Synovus Financial Corp
Synovus Financial Corp raised its position in Schlumberger NV (NYSE:SLB) by 41.2% during the third quarter, Holdings Channel reports. The fund owned 51,192 shares of the company’s stock after buying an additional 14,942 shares during the period. Synovus Financial Corp’s holdings in Schlumberger NV were worth $4,033,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Invictus RG raised its stake 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 during the last quarter. Roble Belko & Company Inc purchased a new stake in Schlumberger NV during the second quarter worth approximately $108,000. WealthTrust Arizona LLC raised its stake in Schlumberger NV by 5.5% in the third quarter. WealthTrust Arizona LLC now owns 1,429 shares of the company’s stock worth $112,000 after buying an additional 74 shares in the last quarter. J.Safra Asset Management Corp purchased a new stake in Schlumberger NV during the second quarter worth approximately $114,000. Finally, New Harbor Financial Group LLC raised its stake in 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 77.93% of the company’s stock.
Shares of Schlumberger NV (NYSE:SLB) traded up 5.17% during midday trading on Wednesday, reaching $84.05. 13,534,159 shares of the company’s stock were exchanged. The company’s 50-day moving average is $80.33 and its 200-day moving average is $79.10. The stock’s market cap is $116.94 billion. Schlumberger NV has a one year low of $59.60 and a one year high of $84.37.
Schlumberger NV (NYSE:SLB) last issued its earnings results on Thursday, October 20th. The company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.03. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $7.24 billion. Schlumberger NV had a positive return on equity of 5.06% and a negative net margin of 8.78%. Schlumberger NV’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Equities analysts expect that Schlumberger NV will post $1.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Investors 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 yield of 2.38%. Schlumberger NV’s dividend payout ratio is currently -108.70%.
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A number of equities research analysts recently commented on the stock. Seaport Global Securities reiterated a “buy” rating on shares of Schlumberger NV in a report on Friday, August 19th. Citigroup Inc. upped their price target on shares of Schlumberger NV from $89.00 to $93.00 and gave the company a “buy” rating in a report on Tuesday, October 11th. Nomura set a $91.00 price target on shares of Schlumberger NV and gave the company a “buy” rating in a report on Tuesday, August 16th. Jefferies Group set a $89.00 price target on shares of Schlumberger NV and gave the company a “hold” rating in a report on Tuesday, October 18th. Finally, Zacks Investment Research lowered shares of Schlumberger NV from a “hold” rating to a “sell” rating in a report on Tuesday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Schlumberger NV currently has a consensus rating of “Buy” and a consensus target price of $91.01.
In related news, Director Tore I. Sandvold sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $78.09, for a total value of $195,225.00. Following the sale, the director now owns 17,750 shares in the company, valued at $1,386,097.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tore I. Sandvold sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $81.00, for a total value of $405,000.00. Following the completion of the sale, the director now owns 12,750 shares in the company, valued at approximately $1,032,750. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate 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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