Schlumberger Limited (NYSE:SLB) Insider Sells $1,104,430.80 in Stock

Schlumberger Limited (NYSE:SLB) insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total value of $1,104,430.80. Following the completion of the transaction, the insider now owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. This trade represents a 33.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Schlumberger Stock Performance

SLB stock opened at $40.86 on Friday. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69. The business has a 50-day moving average price of $40.41 and a 200 day moving average price of $41.84. The company has a market capitalization of $55.56 billion, a P/E ratio of 13.14, a PEG ratio of 10.10 and a beta of 1.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. During the same quarter in the previous year, the business posted $0.86 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.79%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is currently 36.66%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Prospera Private Wealth LLC bought a new stake in Schlumberger during the third quarter valued at about $29,000. YANKCOM Partnership purchased a new stake in shares of Schlumberger during the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Schlumberger in the 4th quarter valued at about $32,000. Golden State Wealth Management LLC purchased a new position in shares of Schlumberger in the 4th quarter worth approximately $34,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Schlumberger during the 3rd quarter worth approximately $37,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Citigroup upped their price target on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Wells Fargo & Company dropped their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Finally, Piper Sandler started coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

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.