Schlumberger (NYSE:SLB) Trading Down 2.3% on Insider Selling

Shares of Schlumberger Limited (NYSE:SLB) were down 2.3% on Wednesday after an insider sold shares in the company. The stock traded as low as $42.44 and last traded at $42.73. Approximately 5,069,767 shares were traded during trading, a decline of 63% from the average daily volume of 13,889,081 shares. The stock had previously closed at $43.74.

Specifically, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the sale, the vice president now directly owns 11,240 shares of the company’s stock, valued at $496,808. This represents a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the completion of the transaction, the executive vice president now owns 184,626 shares of the company’s stock, valued at $8,140,160.34. The trade was a 40.00 % decrease in their position. The disclosure for this sale can be found here. In related news, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SLB. BMO Capital Markets lowered their target price on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. TD Cowen increased their price objective on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday. Piper Sandler began coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. Wells Fargo & Company decreased their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Finally, Atb Cap Markets lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average target price of $55.81.

Schlumberger Trading Down 4.8 %

The firm has a market cap of $58.78 billion, a PE ratio of 13.38, a PEG ratio of 3.61 and a beta of 1.52. The firm has a fifty day simple moving average of $40.83 and a two-hundred day simple moving average of $42.80. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9,241,140 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. Equities analysts forecast that Schlumberger Limited will post 3.29 EPS for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.74%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is currently 35.37%.

Institutional Trading of Schlumberger

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Effects LLC bought a new stake in shares of Schlumberger during the fourth quarter valued at approximately $360,000. Stonegate Investment Group LLC lifted its position in Schlumberger by 22.3% during the fourth quarter. Stonegate Investment Group LLC now owns 27,706 shares of the oil and gas company’s stock valued at $1,062,000 after buying an additional 5,053 shares during the period. Perigon Wealth Management LLC boosted its holdings in shares of Schlumberger by 7.3% during the 4th quarter. Perigon Wealth Management LLC now owns 16,859 shares of the oil and gas company’s stock valued at $693,000 after buying an additional 1,146 shares in the last quarter. Jeppson Wealth Management LLC grew its position in shares of Schlumberger by 22.7% in the 4th quarter. Jeppson Wealth Management LLC now owns 6,055 shares of the oil and gas company’s stock worth $232,000 after buying an additional 1,120 shares during the period. Finally, Fortitude Advisory Group L.L.C. bought a new position in shares of Schlumberger in the 4th quarter worth about $363,000. 81.99% of the stock is currently owned by hedge funds and other 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.