Schlumberger Limited (NYSE:SLB) Director La Chevardiere Patrick De Sells 2,000 Shares

Schlumberger Limited (NYSE:SLB) Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $47.28, for a total transaction of $94,560.00. Following the transaction, the director now owns 30,811 shares in the company, valued at $1,456,744.08. This represents a 6.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Schlumberger Price Performance

SLB opened at $36.83 on Friday. The stock has a market capitalization of $52.01 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 1.42 and a beta of 1.51. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. 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 company’s 50 day simple moving average is $42.06 and its 200-day simple moving average is $43.75.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the previous year, the company earned $0.78 EPS. Schlumberger’s revenue was up 10.2% on a year-over-year basis. Sell-side analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced 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. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.99%. Schlumberger’s payout ratio is currently 35.37%.

Institutional Trading of Schlumberger

Institutional investors and hedge funds have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky raised its holdings in Schlumberger by 25.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after purchasing an additional 156,698 shares during the period. Wilmington Savings Fund Society FSB grew its stake in Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after acquiring an additional 16,350 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Schlumberger by 8.7% during the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after purchasing an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC grew its position in shares of Schlumberger by 269.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after purchasing an additional 14,376 shares during the period. Finally, Public Sector Pension Investment Board lifted its stake in Schlumberger by 0.6% in the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after buying an additional 11,813 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SLB. Bank of America decreased their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. BMO Capital Markets lowered their price objective on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Piper Sandler started coverage on shares of Schlumberger in a research note on Thursday. They set a “neutral” rating and a $47.00 target price for the company. Stifel Nicolaus restated a “buy” rating and issued a $60.00 price target (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Finally, Dbs Bank initiated coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective for the company. Five 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. Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $58.85.

About Schlumberger

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.