Schlumberger (NYSE:SLB) Shares Down 0.8% Following Analyst Downgrade

Schlumberger Limited (NYSE:SLB)’s stock price traded down 0.8% on Monday after Bank of America lowered their price target on the stock from $58.00 to $54.00. Bank of America currently has a buy rating on the stock. Schlumberger traded as low as $44.26 and last traded at $44.42. 1,561,597 shares changed hands during trading, a decline of 86% from the average session volume of 11,009,891 shares. The stock had previously closed at $44.78.

Several other research firms have also weighed in on SLB. Morgan Stanley decreased their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. TD Cowen increased their target price on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Susquehanna dropped their price target on Schlumberger from $70.00 to $60.00 and set a “positive” rating on the stock in a research report on Friday. Finally, UBS Group dropped their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $63.19.

Insider Buying and Selling at Schlumberger

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 completion of the transaction, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger 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 approximately $3,073,428.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,716 shares of company stock worth $9,048,624. 0.26% of the stock is owned by insiders.

Institutional Trading of Schlumberger

Institutional investors have recently bought and sold shares of the business. Register Financial Advisors LLC acquired a new stake in Schlumberger in the first quarter valued at approximately $27,000. Manchester Capital Management LLC boosted its stake 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 acquiring an additional 426 shares during the last quarter. Bruce G. Allen Investments LLC boosted its stake in shares of Schlumberger by 204.2% in 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. ORG Partners LLC boosted its stake in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the last quarter. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger in the second quarter worth approximately $30,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Price Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The stock has a 50 day moving average price of $43.12 and a 200-day moving average price of $46.29. The stock has a market capitalization of $63.47 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 0.96 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $9.14 billion for 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 business’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. On average, analysts forecast that Schlumberger Limited will post 3.47 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is currently 35.95%.

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.