Schlumberger Limited (NYSE:SLB – Get Free Report) was down 0.7% on Wednesday . The stock traded as low as $41.16 and last traded at $41.50. Approximately 1,799,415 shares traded hands during trading, a decline of 87% from the average daily volume of 14,038,738 shares. The stock had previously closed at $41.78.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on SLB shares. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. TD Cowen lifted their target price on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Citigroup boosted their price objective on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus lowered their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Six research 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.81.
Check Out Our Latest Report on Schlumberger
Schlumberger Trading Down 0.9 %
Schlumberger (NYSE:SLB – Get Free Report) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 earnings per share. On average, analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.
Schlumberger Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.75%. Schlumberger’s dividend payout ratio is currently 36.66%.
Insiders Place Their Bets
In other news, VP Ugo Prechner sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the sale, the vice president now directly owns 11,240 shares of the company’s stock, valued at $496,808. This represents a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Dianne B. Ralston sold 43,161 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were 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 in the company, valued at $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock valued at $11,442,229 in the last quarter. Insiders own 0.26% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in SLB. ORG Partners LLC lifted its stake in shares of 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 during the last quarter. Prospera Private Wealth LLC bought a new position in shares of Schlumberger in the 3rd quarter valued at $29,000. YANKCOM Partnership acquired a new stake in shares of Schlumberger in the 4th quarter valued at approximately $31,000. Stonebridge Financial Group LLC bought a new position in shares of Schlumberger in the 4th quarter valued at $32,000. Finally, Golden State Wealth Management LLC acquired a new stake in Schlumberger during the 4th quarter worth approximately $34,000. Institutional investors 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.
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