Schlumberger (NYSE:SLB) Shares Up 0.6% – What’s Next?

Shares of Schlumberger Limited (NYSE:SLB) shot up 0.6% during trading on Friday . The company traded as high as $45.63 and last traded at $45.15. 2,788,009 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 11,037,308 shares. The stock had previously closed at $44.89.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SLB shares. Susquehanna cut their price target on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, July 11th. StockNews.com cut shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Morgan Stanley lowered their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Evercore ISI upped their target price on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Finally, Benchmark restated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.29.

Schlumberger Trading Up 1.3 %

The firm has a market capitalization of $64.56 billion, a PE ratio of 15.15, a P/E/G ratio of 0.90 and a beta of 1.51. The firm has a 50 day simple moving average of $43.41 and a 200 day simple moving average of $46.86. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same period last year, the firm posted $0.72 earnings per share. Schlumberger’s revenue was up 12.8% compared to the same quarter last year. Equities analysts expect that Schlumberger Limited will post 3.49 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, October 10th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.42%. Schlumberger’s payout ratio is 36.54%.

Insider Buying and Selling

In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 203,076 shares in the company, valued at approximately $10,141,615.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Vijay Kasibhatla sold 10,000 shares of the business’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 transaction of $492,900.00. Following the sale, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,716 shares of company stock worth $9,048,624. 0.26% of the stock is owned by insiders.

Institutional Trading of Schlumberger

Several hedge funds have recently bought and sold shares of SLB. Crescent Grove Advisors LLC purchased a new stake in Schlumberger in the 2nd quarter worth approximately $257,000. National Bank of Canada FI raised its position in shares of Schlumberger by 15.0% during the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after purchasing an additional 51,637 shares during the period. Mission Wealth Management LP purchased a new position in shares of Schlumberger during the 1st quarter valued at $245,000. Public Sector Pension Investment Board boosted its holdings in Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after buying an additional 11,813 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Schlumberger by 9.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after buying an additional 64,974 shares in the last quarter. Institutional investors 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.