Schlumberger Limited (NYSE:SLB) EVP Abdellah Merad Sells 60,000 Shares

Schlumberger Limited (NYSE:SLB) EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Schlumberger Price Performance

Shares of NYSE SLB opened at $41.74 on Friday. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $57.75. The stock’s 50 day moving average price is $42.86 and its 200-day moving average price is $45.64. The company has a market capitalization of $59.66 billion, a PE ratio of 13.87, a PEG ratio of 1.48 and a beta of 1.51. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the previous year, the business earned $0.78 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. On average, equities analysts anticipate that Schlumberger Limited will post 3.41 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.64%. Schlumberger’s payout ratio is presently 36.54%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Citigroup decreased their target price on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Barclays decreased their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Piper Sandler decreased their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Morgan Stanley decreased their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Hedge Funds Weigh In On Schlumberger

A number of hedge funds and other institutional investors have recently modified their holdings of SLB. Kingswood Wealth Advisors LLC boosted its stake in shares of Schlumberger by 5.6% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 13,944 shares of the oil and gas company’s stock worth $764,000 after buying an additional 745 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Schlumberger by 2.2% in the 1st quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock worth $578,000 after purchasing an additional 230 shares during the period. Brookstone Capital Management bought a new stake in shares of Schlumberger in the 1st quarter worth approximately $1,758,000. Wealthcare Advisory Partners LLC raised its holdings in shares of Schlumberger by 15.4% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 7,242 shares of the oil and gas company’s stock worth $397,000 after purchasing an additional 965 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Schlumberger in the 1st quarter worth approximately $502,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Company Profile

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.