Deutsche Bank AG assumed coverage on shares of Schlumberger N.V. (NYSE:SLB) in a research report report published on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating and a $78.00 target price on the oil and gas company’s stock.
Several other brokerages have also recently issued reports on SLB. Jefferies Group LLC restated a buy rating and issued a $80.00 price target on shares of Schlumberger N.V. in a research report on Friday, September 29th. BidaskClub raised Schlumberger N.V. from a strong sell rating to a sell rating in a report on Wednesday, August 2nd. Citigroup Inc. lifted their price objective on Schlumberger N.V. from $77.00 to $80.00 and gave the company a buy rating in a report on Thursday, October 5th. UBS AG set a $90.00 price objective on Schlumberger N.V. and gave the company a buy rating in a report on Friday, June 16th. Finally, Cowen and Company set a $80.00 price objective on Schlumberger N.V. and gave the company a buy rating in a report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $83.28.
Schlumberger N.V. (NYSE:SLB) last issued its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The firm had revenue of $7.46 billion for the quarter, compared to analysts’ expectations of $7.25 billion. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 EPS.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Wednesday, September 6th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Friday, September 1st. Schlumberger N.V.’s payout ratio is 1,538.58%.
In other news, Director Helge Lund acquired 2,800 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average price of $66.78 per share, with a total value of $186,984.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael E. Marks acquired 8,000 shares of the firm’s stock in a transaction that occurred 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. Company insiders own 0.38% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Aviance Capital Management LLC acquired a new position in Schlumberger N.V. in the 2nd quarter worth approximately $100,000. Tradewinds Capital Management LLC boosted its stake in Schlumberger N.V. by 29.8% in the 1st quarter. Tradewinds Capital Management LLC now owns 1,338 shares of the oil and gas company’s stock worth $104,000 after purchasing an additional 307 shares during the period. Mountain Capital Investment Advisors Inc acquired a new position in Schlumberger N.V. in the 2nd quarter worth approximately $107,000. MCF Advisors LLC boosted its stake in Schlumberger N.V. by 130.3% in the 1st quarter. MCF Advisors LLC now owns 1,617 shares of the oil and gas company’s stock worth $126,000 after purchasing an additional 915 shares during the period. Finally, Jacobi Capital Management LLC boosted its stake in Schlumberger N.V. by 95.8% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,044 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 1,000 shares during the period. 78.91% of the stock is owned by hedge funds and other institutional investors.
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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