Schlumberger Limited (NYSE:SLB) EVP Abdellah Merad Sells 60,000 Shares

Schlumberger Limited (NYSE:SLB) EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Schlumberger Stock Performance

NYSE:SLB opened at $41.74 on Friday. The business has a 50 day moving average of $42.92 and a 200 day moving average of $45.72. The company has a market capitalization of $59.66 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 1.48 and a beta of 1.51. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $57.75. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS. On average, sell-side analysts predict that Schlumberger Limited will post 3.41 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.64%. Schlumberger’s payout ratio is 36.54%.

Institutional Trading of Schlumberger

A number of hedge funds have recently bought and sold shares of the company. Financial Advocates Investment Management lifted its position in Schlumberger by 11.5% in the third quarter. Financial Advocates Investment Management now owns 7,311 shares of the oil and gas company’s stock valued at $307,000 after purchasing an additional 753 shares during the last quarter. Cornerstone Wealth Group LLC lifted its position in Schlumberger by 7.0% in the third quarter. Cornerstone Wealth Group LLC now owns 62,549 shares of the oil and gas company’s stock valued at $2,624,000 after purchasing an additional 4,070 shares during the last quarter. Tandem Capital Management Corp ADV bought a new stake in Schlumberger in the third quarter valued at approximately $1,487,000. Avitas Wealth Management LLC lifted its position in Schlumberger by 1.0% in the third quarter. Avitas Wealth Management LLC now owns 85,875 shares of the oil and gas company’s stock valued at $3,602,000 after purchasing an additional 810 shares during the last quarter. Finally, Childress Capital Advisors LLC lifted its position in Schlumberger by 146.5% in the third quarter. Childress Capital Advisors LLC now owns 10,948 shares of the oil and gas company’s stock valued at $459,000 after purchasing an additional 6,506 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group cut their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Susquehanna cut their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Bank of America cut their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Piper Sandler cut their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

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.