Schlumberger (NYSE:SLB) Trading Down 1.2% Following Analyst Downgrade

Schlumberger Limited (NYSE:SLB) shares were down 1.2% during mid-day trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $53.00 to $49.00. Wells Fargo & Company currently has an equal weight rating on the stock. Schlumberger traded as low as $42.44 and last traded at $42.47. Approximately 2,781,078 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 10,894,420 shares. The stock had previously closed at $42.98.

Several other analysts have also recently weighed in on SLB. Evercore ISI lifted their price target on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Citigroup decreased their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. TD Cowen lifted their target price on Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Barclays decreased their target price on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. Finally, StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.08.

Insider Buying and Selling

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction on 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 approximately $12,432,012.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vijay Kasibhatla sold 10,000 shares of the company’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 transaction, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,716 shares of company stock worth $9,048,624. 0.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Schlumberger

Institutional investors and hedge funds have recently bought and sold shares of the stock. Register Financial Advisors LLC bought a new stake in shares of Schlumberger in the 1st quarter worth $27,000. Manchester Capital Management LLC lifted its position in shares of Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after buying an additional 426 shares in the last quarter. Bruce G. Allen Investments LLC increased its stake in Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in Schlumberger during the fourth quarter worth approximately $32,000. Finally, Unique Wealth Strategies LLC bought a new stake in Schlumberger during the second quarter worth approximately $30,000. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Performance

The stock has a market cap of $59.39 billion, a P/E ratio of 13.98, a PEG ratio of 0.92 and a beta of 1.51. The business has a 50 day moving average price of $44.27 and a 200 day moving average price of $47.26. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55.

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

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

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.