Schlumberger (NYSE:SLB) Shares Gap Down to $36.36

Schlumberger Limited. (NYSE:SLB) gapped down prior to trading on Tuesday . The stock had previously closed at $37.56, but opened at $36.36. Schlumberger shares last traded at $34.99, with a volume of 10,628,003 shares trading hands.

A number of equities analysts have weighed in on the company. Royal Bank of Canada set a $40.00 price target on Schlumberger and gave the stock a “buy” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. lowered their price objective on shares of Schlumberger from $41.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. TheStreet downgraded shares of Schlumberger from a “c” rating to a “d+” rating in a report on Friday, October 18th. Deutsche Bank began coverage on shares of Schlumberger in a research report on Wednesday, November 27th. They issued a “buy” rating and a $42.00 price objective on the stock. Finally, Morgan Stanley set a $50.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a report on Monday, October 21st. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $44.94.

The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 1.29. The firm has a fifty day moving average price of $35.08 and a 200 day moving average price of $35.98. The company has a market cap of $48.44 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 3.65 and a beta of 1.56.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.03. Schlumberger had a negative net margin of 30.22% and a positive return on equity of 6.00%. The business had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the previous year, the company earned $0.46 earnings per share. The firm’s revenue for the quarter was up .4% on a year-over-year basis. On average, analysts expect that Schlumberger Limited. will post 1.46 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Wednesday, December 4th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.72%. Schlumberger’s payout ratio is 123.46%.

In other news, EVP Patrick Schorn sold 65,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $35.89, for a total transaction of $2,332,850.00. Following the transaction, the executive vice president now owns 50,000 shares in the company, valued at $1,794,500. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Simon Farrant sold 5,000 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $33.55, for a total value of $167,750.00. Following the transaction, the vice president now owns 20,316 shares in the company, valued at approximately $681,601.80. The disclosure for this sale can be found here. Insiders sold a total of 104,735 shares of company stock valued at $3,762,614 over the last quarter. 0.48% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLB. Nuveen Asset Management LLC boosted its stake in shares of Schlumberger by 14,172.7% in the second quarter. Nuveen Asset Management LLC now owns 7,796,324 shares of the oil and gas company’s stock valued at $309,825,000 after buying an additional 7,741,700 shares during the period. Invesco Ltd. increased its position in Schlumberger by 57.3% in the 2nd quarter. Invesco Ltd. now owns 16,703,642 shares of the oil and gas company’s stock valued at $663,804,000 after acquiring an additional 6,087,455 shares during the period. Mackenzie Financial Corp increased its holdings in Schlumberger by 14,241.7% in the second quarter. Mackenzie Financial Corp now owns 2,921,974 shares of the oil and gas company’s stock valued at $116,119,000 after purchasing an additional 2,901,600 shares during the period. BlackRock Inc. increased its stake in shares of Schlumberger by 2.7% in the second quarter. BlackRock Inc. now owns 89,868,836 shares of the oil and gas company’s stock valued at $3,571,386,000 after buying an additional 2,340,320 shares during the period. Finally, Vanguard Group Inc. increased its position in Schlumberger by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 112,662,996 shares of the oil and gas company’s stock valued at $4,477,227,000 after purchasing an additional 1,715,548 shares during the period. Institutional investors and hedge funds own 76.64% of the company’s stock.

Schlumberger Company Profile (NYSE:SLB)

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

Read More: How to Calculate Compound Annual Growth Rate (CAGR)

Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.