Stock Traders Buy High Volume of Schlumberger Call Options (NYSE:SLB)

Schlumberger Limited (NYSE:SLB) was the recipient of unusually large options trading activity on Tuesday. Stock investors acquired 29,086 call options on the company. This represents an increase of 34% compared to the average daily volume of 21,630 call options.

Schlumberger Price Performance

NYSE SLB traded up $1.37 on Tuesday, hitting $43.32. 7,526,380 shares of the company were exchanged, compared to its average volume of 11,002,715. Schlumberger has a 1-year low of $38.66 and a 1-year high of $61.20. The firm has a 50 day moving average of $43.68 and a two-hundred day moving average of $46.96. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The company has a market cap of $61.92 billion, a P/E ratio of 14.25, a P/E/G ratio of 0.92 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 for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. Schlumberger’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 earnings per share. On average, equities analysts predict that Schlumberger will post 3.49 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Wall Street Analyst Weigh In

SLB has been the topic of a number of recent research reports. Susquehanna cut their price target on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, July 11th. UBS Group lowered their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.08.

Insider Buying and Selling

In related news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,716 shares of company stock worth $9,048,624. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Institutional investors have recently modified their holdings of the business. Register Financial Advisors LLC bought a new stake in shares of Schlumberger during the 1st quarter valued at $27,000. Bruce G. Allen Investments LLC raised its position in shares of 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 valued at $28,000 after acquiring an additional 392 shares during the last quarter. Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger during the 2nd quarter valued at $30,000. Manchester Capital Management LLC increased its position in shares of 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 in the last quarter. Finally, Riverview Trust Co increased its position in shares of Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 308 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

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.