Schlumberger Limited (NYSE:SLB) Director Sells $1,098,500.00 in Stock

Schlumberger Limited (NYSE:SLB) Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the transaction, the director now directly owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. The trade was a 33.51 % 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 link.

Schlumberger Trading Up 0.9 %

NYSE:SLB opened at $41.99 on Friday. The stock’s 50 day moving average price is $40.79 and its 200 day moving average price is $42.79. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a market capitalization of $59.29 billion, a PE ratio of 13.50, a P/E/G ratio of 3.58 and a beta of 1.52. The company has a quick ratio of 1.11, a current ratio of 1.45 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 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9,241,140 billion. During the same period last year, the business posted $0.86 EPS. The company’s revenue was up 3.3% on a year-over-year basis. On average, research analysts anticipate that Schlumberger Limited will post 3.33 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Institutional Trading of Schlumberger

Several hedge funds have recently modified their holdings of SLB. ORG Partners LLC raised its holdings in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Schlumberger in the third quarter worth $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Schlumberger in the third quarter worth $37,000. DiNuzzo Private Wealth Inc. raised its holdings in shares of Schlumberger by 1,068.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new position in shares of Schlumberger in the third quarter worth $47,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Stifel Nicolaus dropped their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Wells Fargo & Company lowered their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Susquehanna lowered their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Piper Sandler initiated coverage on Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price on the stock. Finally, BMO Capital Markets reduced their price target on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Company Profile

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.