Schlumberger (NYSE:SLB) Shares Up 1.4% – Here’s Why

Schlumberger Limited (NYSE:SLB)’s share price traded up 1.4% during mid-day trading on Tuesday . The stock traded as high as $44.97 and last traded at $44.89. 3,131,912 shares traded hands during trading, a decline of 72% from the average session volume of 11,247,750 shares. The stock had previously closed at $44.29.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of research reports. Dbs Bank began coverage on shares of Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. BMO Capital Markets dropped their target price on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Stifel Nicolaus restated a “buy” rating and set a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Finally, Bank of America decreased their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Price Performance

The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $62.61 billion, a P/E ratio of 14.43, a P/E/G ratio of 1.52 and a beta of 1.52. The company has a 50 day moving average price of $42.22 and a 200 day moving average price of $44.80.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same quarter last year, the business earned $0.78 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts predict that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.48%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Schlumberger

Large investors have recently modified their holdings of the company. Financial Advocates Investment Management grew its holdings in shares of Schlumberger by 3.4% during the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after buying an additional 218 shares during the last quarter. Chilton Capital Management LLC raised its position in shares of Schlumberger by 0.8% during the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after purchasing an additional 219 shares during the last quarter. Grove Bank & Trust raised its stake in Schlumberger by 17.4% in the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 224 shares during the last quarter. First PREMIER Bank boosted its position in Schlumberger by 8.7% during the second quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 227 shares during the last quarter. Finally, Addison Advisors LLC grew its holdings in Schlumberger by 6.5% in the 2nd quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock valued at $179,000 after buying an additional 233 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

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.