Schlumberger (NYSE:SLB) Stock Price Up 1%

Shares of Schlumberger Limited (NYSE:SLB) traded up 1% on Tuesday . The stock traded as high as $44.04 and last traded at $43.31. 2,580,719 shares changed hands during trading, a decline of 76% from the average session volume of 10,887,289 shares. The stock had previously closed at $42.90.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Citigroup lowered their target price on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Benchmark reaffirmed a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Bank of America cut their price target on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Monday, July 15th. TD Cowen raised their target price on Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.29.

Schlumberger Price Performance

The business has a fifty day moving average price of $44.38 and a 200-day moving average price of $47.31. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $61.48 billion, a PE ratio of 14.39, a PEG ratio of 0.86 and a beta of 1.51.

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

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.56%. Schlumberger’s payout ratio is 36.54%.

Insider Buying and Selling

In related news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the sale, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock valued at $9,048,624 over 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 the stock. Vanguard Group Inc. raised its stake in shares of Schlumberger by 1.4% during the first quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock valued at $7,352,771,000 after acquiring an additional 1,868,688 shares in the last quarter. Capital World Investors raised its holdings in shares of Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after buying an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after acquiring an additional 10,606,191 shares during the period. Capital International Investors lifted its stake in Schlumberger by 0.6% during the 4th quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock valued at $770,122,000 after acquiring an additional 89,483 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Schlumberger by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after buying an additional 1,560,684 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.