Schlumberger (NYSE:SLB) Shares Up 0.6% – Here’s What Happened

Schlumberger Limited (NYSE:SLB)’s stock price traded up 0.6% during mid-day trading on Friday . The stock traded as high as $45.63 and last traded at $45.15. 2,788,009 shares were traded during trading, a decline of 75% from the average session volume of 11,037,308 shares. The stock had previously closed at $44.89.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley decreased their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Benchmark restated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. TD Cowen boosted their price target on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Bank of America dropped their price objective on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a report on Monday, July 15th. Finally, JPMorgan Chase & Co. reduced their target price on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.29.

Schlumberger Trading Up 1.3 %

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The firm’s 50 day moving average price is $43.34 and its 200 day moving average price is $46.75. The stock has a market capitalization of $64.55 billion, a P/E ratio of 15.10, a P/E/G ratio of 0.94 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the prior year, the company posted $0.72 EPS. Schlumberger’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, equities research analysts expect that Schlumberger Limited will post 3.48 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Insiders Place Their Bets

In other news, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction on 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 directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the transaction, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at $10,141,615.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,716 shares of company stock worth $9,048,624. 0.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Capital World Investors grew its holdings in Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after purchasing an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after buying an additional 10,606,191 shares during the last quarter. Boston Partners increased its position in Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after buying an additional 3,069,395 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in Schlumberger during the 2nd quarter valued at approximately $92,944,000. Finally, 1832 Asset Management L.P. purchased a new position in Schlumberger during the second quarter valued at $91,364,000. 81.99% of the stock is currently owned by institutional investors.

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.