Schlumberger (NYSE:SLB) Trading Down 2.2% on Analyst Downgrade

Schlumberger Limited (NYSE:SLB)’s share price was down 2.2% during trading on Tuesday after Bank of America lowered their price target on the stock from $58.00 to $54.00. Bank of America currently has a buy rating on the stock. Schlumberger traded as low as $43.06 and last traded at $43.71. Approximately 2,889,086 shares traded hands during trading, a decline of 74% from the average daily volume of 10,997,774 shares. The stock had previously closed at $44.70.

Several other research firms have also recently commented on SLB. Susquehanna lowered their price target on shares of Schlumberger from $70.00 to $60.00 and set a “positive” rating for the company in a report on Friday. Morgan Stanley lowered their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Piper Sandler cut their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. UBS Group lowered their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.19.

Insider Buying and Selling

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 180,716 shares of company stock worth $9,048,624 in the last 90 days. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

A number of institutional investors have recently added to or reduced their stakes in SLB. Integrated Advisors Network LLC grew its stake in shares of Schlumberger by 9.8% during the 4th quarter. Integrated Advisors Network LLC now owns 8,554 shares of the oil and gas company’s stock worth $445,000 after purchasing an additional 762 shares during the period. EP Wealth Advisors LLC grew its position in Schlumberger by 46.2% during the fourth quarter. EP Wealth Advisors LLC now owns 6,523 shares of the oil and gas company’s stock worth $339,000 after buying an additional 2,061 shares during the period. Richardson Financial Services Inc. purchased a new position in Schlumberger in the fourth quarter valued at about $68,000. SageView Advisory Group LLC lifted its position in shares of Schlumberger by 82.5% during the 4th quarter. SageView Advisory Group LLC now owns 6,955 shares of the oil and gas company’s stock valued at $343,000 after acquiring an additional 3,145 shares during the period. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Schlumberger during the 4th quarter worth approximately $169,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Down 2.2 %

The firm has a market cap of $62.06 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 0.96 and a beta of 1.51. The business has a fifty day moving average of $43.12 and a two-hundred day moving average of $46.29. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, equities analysts expect that Schlumberger Limited will post 3.47 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th were given a $0.275 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.52%. Schlumberger’s dividend payout ratio is currently 35.95%.

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.