Schlumberger Limited (NYSE:SLB – Get Free Report) shares dropped 0.5% during trading on Wednesday after UBS Group lowered their price target on the stock from $63.00 to $57.00. UBS Group currently has a buy rating on the stock. Schlumberger traded as low as $41.28 and last traded at $41.31. Approximately 2,322,345 shares traded hands during trading, a decline of 78% from the average daily volume of 10,763,464 shares. The stock had previously closed at $41.50.
SLB has been the topic of a number of other reports. StockNews.com downgraded shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Evercore ISI upped their price objective on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. TD Cowen boosted their target price on Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Finally, Barclays reduced their price objective on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.29.
Insider Activity
In related news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,716 shares of company stock worth $9,048,624. Corporate insiders own 0.26% of the company’s stock.
Institutional Trading of Schlumberger
A number of institutional investors have recently bought and sold shares of SLB. Gryphon Financial Partners LLC grew its holdings in shares of Schlumberger by 46.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 6,538 shares of the oil and gas company’s stock valued at $340,000 after buying an additional 2,068 shares during the last quarter. Financial Advocates Investment Management grew its stake in Schlumberger by 25.5% during the 4th quarter. Financial Advocates Investment Management now owns 6,190 shares of the oil and gas company’s stock valued at $322,000 after purchasing an additional 1,259 shares during the last quarter. Independent Advisor Alliance increased its holdings in shares of Schlumberger by 28.9% in the fourth quarter. Independent Advisor Alliance now owns 10,351 shares of the oil and gas company’s stock valued at $539,000 after purchasing an additional 2,323 shares during the period. Gladstone Institutional Advisory LLC raised its stake in shares of Schlumberger by 42.8% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 8,570 shares of the oil and gas company’s stock worth $446,000 after purchasing an additional 2,570 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its holdings in shares of Schlumberger by 4.3% during the fourth quarter. Coldstream Capital Management Inc. now owns 22,893 shares of the oil and gas company’s stock worth $1,191,000 after purchasing an additional 942 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.
Schlumberger Trading Down 0.2 %
The stock has a 50-day moving average of $44.71 and a 200 day moving average of $47.52. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The stock has a market cap of $59.20 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 0.85 and a beta of 1.52.
Schlumberger (NYSE:SLB – Get Free Report) last released its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same period in the prior year, the firm earned $0.72 EPS. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.49 earnings per share for the current year.
Schlumberger Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is currently 36.54%.
About Schlumberger
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.