Schlumberger (NYSE:SLB) Trading Up 3%

Schlumberger Limited (NYSE:SLB) shares traded up 3% on Thursday . The stock traded as high as $42.73 and last traded at $42.65. 3,699,807 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 10,781,572 shares. The stock had previously closed at $41.42.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Evercore ISI upped their target price on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Dbs Bank assumed coverage on Schlumberger in a report on Wednesday. They issued a “buy” rating and a $64.50 price target for the company. Susquehanna cut their price objective 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. Finally, Bank of America decreased their price objective on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $66.29.

Schlumberger Stock Down 0.8 %

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 firm has a market cap of $60.22 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.86 and a beta of 1.51. The business’s 50 day moving average price is $44.48 and its 200 day moving average price is $47.40.

Schlumberger (NYSE:SLB) last released its quarterly earnings data 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. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the previous year, the company earned $0.72 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts forecast that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.59%. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Buying and Selling at Schlumberger

In related news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the sale, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction 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 completion of the transaction, 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. Over the last three months, insiders have sold 180,716 shares of company stock valued at $9,048,624. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

A number of hedge funds have recently modified their holdings of SLB. Carolinas Wealth Consulting LLC boosted its stake in Schlumberger by 53.5% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock worth $102,000 after buying an additional 683 shares during the last quarter. Crescent Grove Advisors LLC acquired a new stake in Schlumberger during the second quarter worth about $257,000. National Bank of Canada FI boosted its holdings in Schlumberger by 15.0% in 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 purchasing an additional 51,637 shares during the last quarter. Mission Wealth Management LP purchased a new stake in shares of Schlumberger in the 1st quarter valued at approximately $245,000. Finally, Canada Pension Plan Investment Board increased its holdings 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 worth $43,217,000 after buying an additional 64,974 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.