Schlumberger (NYSE:SLB) Shares Up 0.9% – Here’s What Happened

Schlumberger Limited (NYSE:SLB) shares were up 0.9% during trading on Wednesday . The stock traded as high as $41.70 and last traded at $41.70. Approximately 2,081,352 shares changed hands during trading, a decline of 86% from the average daily volume of 15,078,841 shares. The stock had previously closed at $41.32.

Analyst Ratings Changes

SLB has been the topic of several analyst reports. Susquehanna reduced their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Jefferies Financial Group dropped their price objective on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Bank of America dropped their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.81.

Schlumberger Price Performance

The company’s 50 day moving average price is $40.69 and its 200-day moving average price is $42.66. The company has a market capitalization of $57.07 billion, a PE ratio of 13.09, a PEG ratio of 9.98 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.

Schlumberger (NYSE:SLB) last announced 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 net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same period in the previous year, the company earned $0.86 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts forecast that Schlumberger Limited will post 3.34 earnings per share for the current fiscal 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 dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. 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 2.80%. Schlumberger’s payout ratio is currently 36.66%.

Insider Buying and Selling

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction 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 in the company, valued at $496,808. The trade was a 38.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Dianne B. Ralston sold 43,161 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the transaction, the insider now owns 235,024 shares in the company, valued at $10,331,655.04. This represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 198,258 shares of company stock valued at $8,732,604. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

A number of institutional investors have recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC lifted its holdings in Schlumberger by 4.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 15,365 shares of the oil and gas company’s stock worth $589,000 after buying an additional 705 shares in the last quarter. Great Lakes Retirement Inc. raised its stake in shares of Schlumberger by 60.7% in the 4th quarter. Great Lakes Retirement Inc. now owns 257,784 shares of the oil and gas company’s stock valued at $9,883,000 after purchasing an additional 97,375 shares in the last quarter. Kentucky Trust Co acquired a new stake in shares of Schlumberger in the 4th quarter valued at about $50,000. Schwartz Investment Counsel Inc. raised its stake in shares of Schlumberger by 1.5% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 333,800 shares of the oil and gas company’s stock valued at $12,798,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Capital Advisors Inc. OK raised its stake in shares of Schlumberger by 2.8% in the 4th quarter. Capital Advisors Inc. OK now owns 658,409 shares of the oil and gas company’s stock valued at $25,243,000 after purchasing an additional 17,634 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

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.