Investors Sell Shares of Schlumberger (SLB) on Strength (SLB)

Investors sold shares of Schlumberger Limited. (NYSE:SLB) on strength during trading hours on Wednesday. $67.35 million flowed into the stock on the tick-up and $83.50 million flowed out of the stock on the tick-down, for a money net flow of $16.15 million out of the stock. Of all equities tracked, Schlumberger had the 28th highest net out-flow for the day. Schlumberger traded up $0.79 for the day and closed at $66.81

SLB has been the topic of a number of recent research reports. ValuEngine cut shares of Schlumberger from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Credit Suisse Group set a $86.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a report on Wednesday, March 14th. Cowen reiterated a “buy” rating and issued a $81.00 target price on shares of Schlumberger in a research note on Thursday, March 15th. Barclays set a $70.00 target price on shares of Schlumberger and gave the stock a “hold” rating in a research note on Saturday, March 24th. Finally, SunTrust Banks upgraded shares of Schlumberger from a “hold” rating to a “buy” rating in a research note on Tuesday, April 3rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $79.96.

The stock has a market cap of $90.62 billion, a price-to-earnings ratio of 44.54, a P/E/G ratio of 5.68 and a beta of 1.05. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.36.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, April 20th. The oil and gas company reported $0.38 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.38. Schlumberger had a negative net margin of 4.01% and a positive return on equity of 5.85%. The company had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.79 billion. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. equities analysts forecast that Schlumberger Limited. will post 1.92 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Wednesday, June 6th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 5th. This represents a $2.00 dividend on an annualized basis and a yield of 2.99%. Schlumberger’s dividend payout ratio is currently 133.33%.

In other Schlumberger news, VP Claudia Jaramillo sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $72.68, for a total transaction of $218,040.00. Following the completion of the sale, the vice president now directly owns 6,162 shares of the company’s stock, valued at $447,854.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.48% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Fisher Asset Management LLC increased its stake in shares of Schlumberger by 21,872.1% in the first quarter. Fisher Asset Management LLC now owns 5,868,964 shares of the oil and gas company’s stock worth $380,192,000 after purchasing an additional 5,842,253 shares in the last quarter. Summit Trail Advisors LLC increased its stake in shares of Schlumberger by 6,833.5% in the first quarter. Summit Trail Advisors LLC now owns 3,457,055 shares of the oil and gas company’s stock worth $3,457,000 after purchasing an additional 3,407,195 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Schlumberger by 25.6% in the fourth quarter. Franklin Resources Inc. now owns 13,240,530 shares of the oil and gas company’s stock worth $892,278,000 after purchasing an additional 2,696,580 shares in the last quarter. Northern Cross LLC increased its stake in shares of Schlumberger by 15.3% in the fourth quarter. Northern Cross LLC now owns 19,852,648 shares of the oil and gas company’s stock worth $1,337,870,000 after purchasing an additional 2,637,527 shares in the last quarter. Finally, International Value Advisers LLC purchased a new stake in shares of Schlumberger in the fourth quarter worth $146,182,000. 78.42% of the stock is owned by institutional investors and hedge funds.

Schlumberger Company Profile

Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.

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