Schlumberger (NYSE:SLB) Trading 1% Higher

Schlumberger Limited (NYSE:SLB) shares traded up 1% during mid-day trading on Tuesday . The company traded as high as $44.04 and last traded at $43.31. 2,580,719 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 10,887,289 shares. The stock had previously closed at $42.90.

Wall Street Analyst Weigh In

SLB has been the subject of a number of analyst reports. Citigroup cut their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Susquehanna decreased their price objective on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a report on Thursday, July 11th. Benchmark reissued a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Morgan Stanley cut their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Finally, Dbs Bank initiated coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target for the company. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.29.

Schlumberger Stock Up 0.3 %

The firm’s 50-day simple moving average is $44.38 and its 200-day simple moving average is $47.31. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The company has a market capitalization of $61.48 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 0.86 and a beta of 1.51.

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

Schlumberger Announces Dividend

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Schlumberger by 1.4% during the first quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after purchasing an additional 1,868,688 shares during the period. Capital World Investors boosted its holdings in shares of Schlumberger by 72.3% during the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after buying an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD grew its stake in 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 valued at $4,712,897,000 after buying an additional 10,606,191 shares during the last quarter. Capital International Investors raised its holdings in Schlumberger by 0.6% in the 4th quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock valued at $770,122,000 after acquiring an additional 89,483 shares during the period. Finally, Legal & General Group Plc lifted its position in Schlumberger by 14.0% during the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after acquiring an additional 1,560,684 shares during the last quarter. 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.