Schlumberger (NYSE:SLB) Shares Down 0.8% on Analyst Downgrade

Schlumberger Limited (NYSE:SLB)’s stock price fell 0.8% during trading on Monday after Bank of America lowered their price target on the stock from $58.00 to $54.00. Bank of America currently has a buy rating on the stock. Schlumberger traded as low as $44.26 and last traded at $44.42. 1,561,597 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 11,009,891 shares. The stock had previously closed at $44.78.

Several other equities analysts have also weighed in on SLB. BMO Capital Markets dropped their price objective on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, October 10th. Evercore ISI boosted their price target on shares of Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research note on Thursday, October 3rd. Stifel Nicolaus decreased their price target on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday. Finally, Dbs Bank began coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They set 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.19.

Insiders Place Their Bets

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. This trade 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 accessible through this hyperlink. In other news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $10,141,615.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Schlumberger

Large investors have recently modified their holdings of the stock. Crescent Grove Advisors LLC purchased a new position in shares of Schlumberger in the 2nd quarter worth about $257,000. National Bank of Canada FI grew its stake in shares of Schlumberger by 15.0% during the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after acquiring an additional 51,637 shares during the period. Mission Wealth Management LP bought a new position in shares of Schlumberger during the 1st quarter valued at approximately $245,000. Public Sector Pension Investment Board grew its stake in shares of Schlumberger by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after acquiring an additional 11,813 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Schlumberger by 9.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after acquiring an additional 64,974 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Down 0.2 %

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 capitalization of $63.47 billion, a P/E ratio of 14.61, a P/E/G ratio of 0.96 and a beta of 1.51. The stock has a 50 day moving average of $43.12 and a 200-day moving average of $46.29.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping the consensus estimate 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 firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 EPS. On average, research analysts predict that Schlumberger Limited will post 3.47 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.275 per share. The ex-dividend date was Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.46%. Schlumberger’s dividend payout ratio (DPR) is 35.95%.

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.