Schlumberger (NYSE:SLB) Trading 1.4% Higher

Shares of Schlumberger Limited (NYSE:SLB) traded up 1.4% on Monday . The company traded as high as $43.21 and last traded at $43.00. 2,681,832 shares changed hands during trading, a decline of 75% from the average session volume of 10,876,729 shares. The stock had previously closed at $42.41.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Dbs Bank initiated coverage on Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective for the company. TD Cowen lifted 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. Citigroup dropped their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, June 28th. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.29.

Schlumberger Stock Up 1.2 %

The business has a 50 day simple moving average of $44.48 and a 200-day simple moving average of $47.36. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The firm has a market capitalization of $61.32 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 0.86 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $9.14 billion during 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 business’s revenue for the quarter 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, equities analysts expect that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Announces Dividend

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

Insider Buying and Selling at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction 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. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Vijay Kasibhatla sold 10,000 shares of the business’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 in the company, valued at $3,073,428.66. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction dated 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 directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 180,716 shares of company stock valued at $9,048,624. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SLB. Capital World Investors increased its position in Schlumberger by 72.3% in the 1st 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 period. Price T Rowe Associates Inc. MD lifted its position in Schlumberger by 14.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after acquiring an additional 10,606,191 shares during the last quarter. Winslow Capital Management LLC grew its position in Schlumberger by 123,063.5% during the fourth quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock worth $226,253,000 after buying an additional 4,344,141 shares in the last quarter. Boston Partners raised its position in Schlumberger by 35.8% during the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after purchasing an additional 3,069,395 shares in the last quarter. Finally, Ceredex Value Advisors LLC acquired a new stake in Schlumberger in the second quarter valued at approximately $92,944,000. 81.99% of the stock is owned by institutional investors and hedge funds.

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.