Schlumberger (NYSE:SLB) Stock Price Down 2.3% Following Insider Selling

Schlumberger Limited (NYSE:SLBGet Free Report) dropped 2.3% during trading on Wednesday following insider selling activity. The stock traded as low as $42.44 and last traded at $42.73. Approximately 5,069,767 shares traded hands during trading, a decline of 63% from the average daily volume of 13,889,081 shares. The stock had previously closed at $43.74.

Specifically, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the sale, the vice president now directly owns 11,240 shares in the company, valued at approximately $496,808. The trade was a 38.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the sale, the executive vice president now owns 184,626 shares of the company’s stock, valued at approximately $8,140,160.34. This represents a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the sale, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. This represents a 33.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SLB. Bank of America reduced their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Royal Bank of Canada reissued an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a report on Tuesday. Jefferies Financial Group lowered their price target on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Susquehanna lowered their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Finally, Stifel Nicolaus reduced their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.81.

Check Out Our Latest Analysis on Schlumberger

Schlumberger Stock Up 0.9 %

The company has a market cap of $59.29 billion, a P/E ratio of 13.50, a P/E/G ratio of 3.58 and a beta of 1.52. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average is $40.79 and its 200 day moving average is $42.79.

Schlumberger (NYSE:SLBGet Free Report) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9,241,140 billion. During the same period in the previous year, the company earned $0.86 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts anticipate that Schlumberger Limited will post 3.33 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is currently 35.37%.

Institutional Investors Weigh In On Schlumberger

A number of large investors have recently made changes to their positions in the stock. State Street Corp grew its holdings in shares of Schlumberger by 0.6% during the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after buying an additional 528,279 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Schlumberger by 0.8% in the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock worth $1,195,290,000 after acquiring an additional 239,966 shares during the period. Pacer Advisors Inc. raised its position in shares of Schlumberger by 12,289.6% in the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock worth $500,082,000 after acquiring an additional 12,938,082 shares during the period. Legal & General Group Plc raised its position in shares of Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after acquiring an additional 1,560,684 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Schlumberger by 20.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after acquiring an additional 1,916,851 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

About Schlumberger

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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.

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