Insider Selling: Schlumberger Limited (NYSE:SLB) Insider Sells $1,838,647.24 in Stock

Schlumberger Limited (NYSE:SLBGet Free Report) insider Gavin Rennick sold 38,083 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the sale, the insider now directly owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $46.24 on Friday. The firm has a market cap of $66.09 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 0.89 and a beta of 1.64. Schlumberger Limited has a 1 year low of $42.73 and a 1 year high of $62.12. The firm’s 50-day simple moving average is $50.92 and its 200-day simple moving average is $50.80. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37.

Schlumberger (NYSE:SLBGet Free Report) last released its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. Schlumberger’s quarterly revenue was up 12.6% on a year-over-year basis. Equities analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.38%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SLB. Wells Fargo & Company cut shares of Schlumberger from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $68.00 to $53.00 in a research report on Monday, April 29th. Bank of America decreased their price target on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Susquehanna reaffirmed a “positive” rating and set a $77.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Finally, Benchmark reissued a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.72.

View Our Latest Stock Report on SLB

Institutional Investors Weigh In On Schlumberger

Large investors have recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of Schlumberger in the fourth quarter valued at approximately $26,000. Register Financial Advisors LLC bought a new position in shares of Schlumberger in the first quarter valued at approximately $27,000. Manchester Capital Management LLC boosted its holdings in shares of Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares in the last quarter. Transcendent Capital Group LLC bought a new position in shares of Schlumberger in the fourth quarter valued at approximately $32,000. Finally, Janiczek Wealth Management LLC boosted its holdings in shares of Schlumberger by 1,180.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 602 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Schlumberger (NYSE:SLB)

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