Schlumberger (NYSE:SLB) Stock Price Up 3%

Schlumberger Limited (NYSE:SLB)’s stock price rose 3% during trading on Thursday . The company traded as high as $42.73 and last traded at $42.65. Approximately 3,699,807 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 10,781,572 shares. The stock had previously closed at $41.42.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SLB shares. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Piper Sandler decreased their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Evercore ISI upped their price target on shares of Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Finally, Morgan Stanley dropped their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $66.29.

Schlumberger Stock Performance

The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The company has a market cap of $60.66 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 0.86 and a beta of 1.51. The stock has a 50 day simple moving average of $44.63 and a 200 day simple moving average of $47.48.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The company had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share. As a group, analysts predict that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.57%. Schlumberger’s payout ratio is currently 36.54%.

Insider Activity

In related news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the transaction, the chief financial officer now owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger 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 $3,073,428.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the transaction, the chief financial officer now owns 203,076 shares in the company, valued at $10,141,615.44. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock worth $9,048,624 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

A number of institutional investors have recently modified their holdings of the stock. Register Financial Advisors LLC bought a new stake in Schlumberger in the first quarter valued at about $27,000. Manchester Capital Management LLC grew its position in shares of Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares in the last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Schlumberger during the 4th quarter valued at approximately $32,000. Finally, Unique Wealth Strategies LLC bought a new position in Schlumberger during the second quarter worth $30,000. Institutional investors and hedge funds 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.