Traders Sell Shares of Schlumberger (SLB) on Strength (SLB)

Traders sold shares of Schlumberger Limited. (NYSE:SLB) on strength during trading hours on Friday. $133.83 million flowed into the stock on the tick-up and $179.90 million flowed out of the stock on the tick-down, for a money net flow of $46.07 million out of the stock. Of all stocks tracked, Schlumberger had the 10th highest net out-flow for the day. Schlumberger traded up $0.04 for the day and closed at $58.47

Several brokerages have issued reports on SLB. Piper Jaffray Companies restated a “buy” rating and set a $80.00 price objective on shares of Schlumberger in a research note on Monday, July 23rd. ValuEngine cut Schlumberger from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Wolfe Research began coverage on Schlumberger in a research note on Wednesday, October 10th. They set a “market perform” rating on the stock. Seaport Global Securities set a $72.00 price objective on Schlumberger and gave the company a “buy” rating in a research note on Monday, July 23rd. Finally, Morgan Stanley began coverage on Schlumberger in a research note on Tuesday, September 18th. They set an “equal weight” rating and a $72.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $78.90.

The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.85. The stock has a market capitalization of $82.00 billion, a price-to-earnings ratio of 38.98, a P/E/G ratio of 5.65 and a beta of 0.93.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 19th. The oil and gas company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.57 billion. Schlumberger had a positive return on equity of 6.25% and a negative net margin of 2.34%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS. Research analysts expect that Schlumberger Limited. will post 1.75 EPS for the current year.

In other Schlumberger news, Director Michael E. Marks bought 8,000 shares of the stock in a transaction that occurred on Thursday, September 6th. The shares were purchased at an average cost of $60.31 per share, for a total transaction of $482,480.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.48% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Isthmus Partners LLC boosted its stake in Schlumberger by 6.4% during the 1st quarter. Isthmus Partners LLC now owns 101,372 shares of the oil and gas company’s stock valued at $6,567,000 after purchasing an additional 6,059 shares in the last quarter. South State Corp boosted its stake in Schlumberger by 24.1% during the 1st quarter. South State Corp now owns 109,257 shares of the oil and gas company’s stock valued at $7,077,000 after purchasing an additional 21,201 shares in the last quarter. Tiedemann Advisors LLC boosted its stake in Schlumberger by 222.2% during the 1st quarter. Tiedemann Advisors LLC now owns 13,064 shares of the oil and gas company’s stock valued at $851,000 after purchasing an additional 9,009 shares in the last quarter. Sentry Investments Corp. boosted its stake in Schlumberger by 111.2% during the 1st quarter. Sentry Investments Corp. now owns 219,600 shares of the oil and gas company’s stock valued at $14,226,000 after purchasing an additional 115,600 shares in the last quarter. Finally, Northern Oak Wealth Management Inc. boosted its stake in Schlumberger by 5.4% during the 1st quarter. Northern Oak Wealth Management Inc. now owns 74,178 shares of the oil and gas company’s stock valued at $4,805,000 after purchasing an additional 3,770 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

About Schlumberger (NYSE:SLB)

Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.

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