Schlumberger (NYSE:SLB) Stock Price Down 2.3% After Insider Selling

Schlumberger Limited (NYSE:SLBGet Free Report)’s stock price fell 2.3% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $42.44 and last traded at $42.73. 5,069,767 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 13,889,081 shares. The stock had previously closed at $43.74.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on SLB. Susquehanna decreased their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. JPMorgan Chase & Co. lifted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday. Bank of America lowered their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Stifel Nicolaus reduced their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a research note on Tuesday. 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.81.

Read Our Latest Stock Report on Schlumberger

Schlumberger Price Performance

The stock has a market cap of $60.37 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 3.61 and a beta of 1.52. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company’s fifty day moving average is $40.83 and its two-hundred day moving average is $42.80.

Schlumberger (NYSE:SLBGet Free Report) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) 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 firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9,241,140 billion. During the same quarter in the previous year, the business earned $0.86 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, research analysts predict that Schlumberger Limited will post 3.29 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Institutional Trading of Schlumberger

Several hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after acquiring an additional 1,916,851 shares during the last quarter. Legal & General Group Plc raised its holdings in Schlumberger by 14.0% during the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after purchasing an additional 1,560,684 shares in the last quarter. Merewether Investment Management LP purchased a new stake in shares of Schlumberger during the 2nd quarter worth approximately $42,957,000. Weiss Asset Management LP acquired a new position in shares of Schlumberger in the 3rd quarter valued at $37,322,000. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Schlumberger during the 4th quarter worth $25,481,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

About Schlumberger

(Get Free Report)

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.

Further Reading

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