Schlumberger N.V. (SLB) Sees Large Increase in Short Interest
Schlumberger N.V. (NYSE:SLB) was the recipient of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 24,939,245 shares, a growth of 21.9% from the May 15th total of 20,455,526 shares. Approximately 1.8% of the company’s shares are sold short. Based on an average daily volume of 7,582,720 shares, the days-to-cover ratio is currently 3.3 days.
Shares of Schlumberger N.V. (NYSE:SLB) opened at 68.18 on Thursday. The company’s 50-day moving average price is $70.85 and its 200 day moving average price is $78.97. Schlumberger N.V. has a 1-year low of $67.34 and a 1-year high of $87.84. The stock’s market cap is $94.73 billion.
Schlumberger N.V. (NYSE:SLB) last issued its quarterly earnings data on Friday, April 21st. The oil and gas company reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. Schlumberger N.V. had a positive return on equity of 3.32% and a negative net margin of 6.77%. The firm had revenue of $6.89 billion during the quarter, compared to analyst estimates of $6.98 billion. During the same quarter last year, the firm earned $0.40 EPS. Schlumberger N.V.’s quarterly revenue was up 5.7% on a year-over-year basis. Equities analysts forecast that Schlumberger N.V. will post $1.48 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Thursday, June 1st will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, May 30th. This represents a $2.00 dividend on an annualized basis and a yield of 2.93%. Schlumberger N.V.’s dividend payout ratio (DPR) is presently -144.93%.
SLB has been the subject of a number of recent analyst reports. Scotiabank reissued a “buy” rating and set a $95.00 price objective on shares of Schlumberger N.V. in a research report on Wednesday, March 22nd. Zacks Investment Research downgraded Schlumberger N.V. from a “hold” rating to a “sell” rating in a research report on Tuesday, March 28th. FBR & Co raised their price objective on Schlumberger N.V. from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 22nd. Barclays PLC reissued an “overweight” rating and set a $107.00 price objective on shares of Schlumberger N.V. in a research report on Monday, April 24th. Finally, Tudor Pickering initiated coverage on Schlumberger N.V. in a research report on Thursday, March 23rd. They set a “buy” rating for the company. Five analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $92.91.
In other Schlumberger N.V. news, Director Peter L. S. Currie acquired 3,625 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was purchased at an average cost of $69.02 per share, with a total value of $250,197.50. Following the transaction, the director now owns 31,550 shares of the company’s stock, valued at $2,177,581. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Tore I. Sandvold sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $69.82, for a total value of $349,100.00. Following the sale, the director now directly owns 5,000 shares of the company’s stock, valued at $349,100. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Shelton Capital Management raised its stake in shares of Schlumberger N.V. by 17.8% in the fourth quarter. Shelton Capital Management now owns 83,650 shares of the oil and gas company’s stock worth $7,022,000 after buying an additional 12,655 shares during the period. National Pension Service increased its position in Schlumberger N.V. by 4.5% in the first quarter. National Pension Service now owns 964,626 shares of the oil and gas company’s stock worth $75,086,000 after buying an additional 41,903 shares in the last quarter. Rathbone Brothers plc increased its position in Schlumberger N.V. by 1.2% in the first quarter. Rathbone Brothers plc now owns 126,286 shares of the oil and gas company’s stock worth $9,863,000 after buying an additional 1,537 shares in the last quarter. Jackson Grant Investment Advisers Inc. purchased a new position in Schlumberger N.V. during the fourth quarter worth approximately $160,000. Finally, First United Bank Trust increased its position in Schlumberger N.V. by 9.8% in the first quarter. First United Bank Trust now owns 13,135 shares of the oil and gas company’s stock worth $1,026,000 after buying an additional 1,175 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Schlumberger N.V. (SLB) Sees Large Increase in Short Interest” was posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another site, it was stolen and reposted in violation of United States and international copyright & trademark law. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/06/15/schlumberger-n-v-slb-sees-large-increase-in-short-interest.html.
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.
Receive News & Ratings for Schlumberger N.V. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger N.V. and related companies with MarketBeat.com's FREE daily email newsletter.