Schlumberger (NYSE:SLB) Stock Price Down 1.8% – Time to Sell?

Shares of Schlumberger Limited (NYSE:SLB) dropped 1.8% during mid-day trading on Thursday . The company traded as low as $39.81 and last traded at $40.09. Approximately 3,110,403 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 14,532,134 shares. The stock had previously closed at $40.81.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Citigroup lifted their target price on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Piper Sandler started coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Finally, Wells Fargo & Company dropped their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Trading Down 2.2 %

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm’s fifty day moving average price is $40.32 and its 200-day moving average price is $42.36. The company has a market cap of $55.94 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 9.55 and a beta of 1.51.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. On average, equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.85%. Schlumberger’s payout ratio is presently 35.37%.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction dated 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 sale, the insider now directly owns 235,024 shares of the company’s stock, valued at $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the sale, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock worth $11,442,229 over the last ninety days. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Schlumberger

Large investors have recently modified their holdings of the stock. ORG Partners LLC lifted its holdings in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after buying an additional 484 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger during the third quarter worth approximately $29,000. YANKCOM Partnership acquired a new position in Schlumberger in the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC bought a new position in Schlumberger in the fourth quarter valued at approximately $32,000. Finally, Golden State Wealth Management LLC acquired a new stake in Schlumberger during the 4th quarter worth $34,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.