Schlumberger (NYSE:SLB) Shares Down 1.2%

Schlumberger Limited (NYSE:SLB) shares fell 1.2% during trading on Tuesday . The stock traded as low as $50.69 and last traded at $51.05. 2,916,864 shares traded hands during trading, a decline of 74% from the average session volume of 11,185,900 shares. The stock had previously closed at $51.67.

Wall Street Analysts Forecast Growth

Several research firms have commented on SLB. Susquehanna reaffirmed a “positive” rating and set a $77.00 price objective on shares of Schlumberger in a research note on Monday, April 8th. Bank of America increased their target price on Schlumberger from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday. Stifel Nicolaus increased their target price on Schlumberger from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Barclays cut their target price on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, Wells Fargo & Company increased their target price on Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.31.

Schlumberger Trading Down 0.8 %

The business has a fifty day simple moving average of $51.36 and a 200 day simple moving average of $52.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.32. The stock has a market cap of $73.17 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 0.94 and a beta of 1.60.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 19th. The oil and gas company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $8.99 billion during the quarter, compared to the consensus estimate of $8.96 billion. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 earnings per share. As a group, equities analysts anticipate that Schlumberger Limited will post 3.52 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Wednesday, February 7th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Tuesday, February 6th. Schlumberger’s dividend payout ratio is currently 34.25%.

Insider Activity

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the transaction, the chief financial officer now owns 249,182 shares in the company, valued at $13,151,825.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the transaction, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 249,182 shares in the company, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. Insiders sold a total of 172,191 shares of company stock valued at $8,636,322 over the last quarter. Company insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Norges Bank acquired a new stake in Schlumberger during the fourth quarter valued at approximately $1,000,292,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Schlumberger by 12.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock valued at $3,922,768,000 after purchasing an additional 8,617,971 shares during the last quarter. Winslow Capital Management LLC grew its holdings in shares of 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 valued at $226,253,000 after purchasing an additional 4,344,141 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Schlumberger by 25.9% during the fourth quarter. Legal & General Group Plc now owns 11,742,455 shares of the oil and gas company’s stock valued at $611,077,000 after purchasing an additional 2,412,610 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Schlumberger by 79.7% during the third quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock valued at $286,835,000 after purchasing an additional 2,182,706 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

About Schlumberger

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.