Schlumberger (NYSE:SLB) Trading 1.8% Higher – Here’s Why

Schlumberger Limited (NYSE:SLB)’s stock price traded up 1.8% on Monday . The company traded as high as $44.12 and last traded at $43.97. 1,973,571 shares changed hands during trading, a decline of 82% from the average session volume of 11,238,098 shares. The stock had previously closed at $43.18.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Piper Sandler decreased their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Susquehanna cut their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 price objective (down from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Morgan Stanley decreased their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Trading Up 2.7 %

The company has a fifty day moving average of $42.21 and a 200-day moving average of $44.84. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The firm has a market capitalization of $62.63 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.52 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 earnings per share. On average, sell-side analysts anticipate that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Institutional investors and hedge funds have recently bought and sold shares of the company. John G Ullman & Associates Inc. grew its stake in Schlumberger by 26.4% during the 3rd quarter. John G Ullman & Associates Inc. now owns 328,704 shares of the oil and gas company’s stock valued at $13,789,000 after acquiring an additional 68,700 shares in the last quarter. Cypress Capital Group increased its holdings in Schlumberger by 4.5% during the 3rd quarter. Cypress Capital Group now owns 29,541 shares of the oil and gas company’s stock valued at $1,239,000 after acquiring an additional 1,264 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Schlumberger in the third quarter valued at approximately $680,000. Primecap Management Co. CA increased its stake in Schlumberger by 0.5% during the third quarter. Primecap Management Co. CA now owns 997,300 shares of the oil and gas company’s stock valued at $41,837,000 after purchasing an additional 5,100 shares during the last quarter. Finally, Moran Wealth Management LLC increased its stake in Schlumberger by 31.2% during the third quarter. Moran Wealth Management LLC now owns 308,896 shares of the oil and gas company’s stock valued at $12,958,000 after purchasing an additional 73,432 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.