Schlumberger (NYSE:SLB) Stock Price Up 1.4%

Schlumberger Limited (NYSE:SLB)’s share price shot up 1.4% during trading on Monday . The stock traded as high as $43.21 and last traded at $43.00. 2,681,832 shares were traded during mid-day trading, a decline of 75% from the average session volume of 10,876,729 shares. The stock had previously closed at $42.41.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SLB. Morgan Stanley dropped their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Barclays reduced their price objective on Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Citigroup dropped their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. TD Cowen lifted their price objective on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $66.29.

Schlumberger Stock Performance

The company has a market capitalization of $61.33 billion, a PE ratio of 14.29, a PEG ratio of 0.86 and a beta of 1.51. The firm has a 50-day moving average of $44.48 and a two-hundred day moving average of $47.36. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the company earned $0.72 EPS. Research analysts anticipate that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio is presently 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the sale, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the firm’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. The disclosure for this sale can be found here. Insiders have sold a total of 180,716 shares of company stock worth $9,048,624 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Several institutional investors have recently bought and sold shares of SLB. Register Financial Advisors LLC acquired a new stake in Schlumberger during the first quarter valued at approximately $27,000. Manchester Capital Management LLC increased its holdings in Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares during the period. Bruce G. Allen Investments LLC grew its position in Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in Schlumberger during the 4th quarter worth $32,000. Finally, Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger in the 2nd quarter valued at about $30,000. 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.