Schlumberger (NYSE:SLB) Shares Down 0.1%

Schlumberger Limited (NYSE:SLBGet Free Report)’s share price fell 0.1% during mid-day trading on Wednesday . The stock traded as low as $54.47 and last traded at $54.61. 3,096,199 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 11,370,730 shares. The stock had previously closed at $54.68.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SLB. Susquehanna restated a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a report on Tuesday, February 13th. Stifel Nicolaus increased their price objective on Schlumberger from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Benchmark reiterated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a report on Wednesday. Barclays decreased their price objective on Schlumberger from $77.00 to $74.00 and set an “overweight” rating for the company in a report on Monday, January 22nd. Finally, Wells Fargo & Company increased their price objective on Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.07.

Get Our Latest Stock Analysis on Schlumberger

Schlumberger Stock Performance

The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $50.77 and a two-hundred day simple moving average of $52.95. The stock has a market capitalization of $78.31 billion, a P/E ratio of 18.70, a P/E/G ratio of 0.99 and a beta of 1.60.

Schlumberger (NYSE:SLBGet Free Report) last posted its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The firm had revenue of $8.99 billion during the quarter, compared to the consensus estimate of $8.96 billion. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same period last year, the company earned $0.71 earnings per share. On average, equities analysts forecast that Schlumberger Limited will post 3.54 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Wednesday, February 7th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.82%. Schlumberger’s payout ratio is 34.25%.

Insider Activity

In other news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders sold a total of 172,191 shares of company stock valued at $8,636,322 over the last three months. Insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Schlumberger by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock worth $6,883,928,000 after purchasing an additional 1,753,108 shares during the last quarter. State Street Corp lifted its holdings in Schlumberger by 1.0% during the 2nd quarter. State Street Corp now owns 83,794,992 shares of the oil and gas company’s stock worth $4,136,112,000 after purchasing an additional 861,439 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Schlumberger by 12.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock worth $3,922,768,000 after purchasing an additional 8,617,971 shares during the last quarter. Capital World Investors lifted its holdings in Schlumberger by 2.2% during the 4th quarter. Capital World Investors now owns 51,617,471 shares of the oil and gas company’s stock worth $2,686,173,000 after purchasing an additional 1,133,686 shares during the last quarter. Finally, FMR LLC lifted its holdings in Schlumberger by 1.1% during the 3rd quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock worth $1,584,099,000 after purchasing an additional 282,709 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Company Profile

(Get Free Report)

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.

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