Schlumberger Limited (NYSE:SLB) Director La Chevardiere Patrick De Sells 2,000 Shares

Schlumberger Limited (NYSE:SLB) Director La Chevardiere Patrick De sold 2,000 shares of Schlumberger stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $47.28, for a total value of $94,560.00. Following the transaction, the director now directly owns 30,811 shares in the company, valued at approximately $1,456,744.08. The trade was a 6.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Schlumberger Stock Down 0.2 %

Schlumberger stock traded down $0.06 during mid-day trading on Friday, reaching $36.85. 14,141,933 shares of the company were exchanged, compared to its average volume of 11,229,028. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The business has a fifty day moving average of $42.22 and a 200 day moving average of $43.80. The firm has a market cap of $52.04 billion, a P/E ratio of 11.85, a PEG ratio of 1.42 and a beta of 1.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 earnings per share. Research analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.99%. Schlumberger’s payout ratio is 35.37%.

Hedge Funds Weigh In On Schlumberger

Several institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in Schlumberger by 8.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,487,067 shares of the oil and gas company’s stock worth $188,232,000 after purchasing an additional 332,500 shares in the last quarter. Syntax Research Inc. purchased a new position in shares of Schlumberger in the third quarter worth $3,491,000. Copley Financial Group Inc. acquired a new stake in shares of Schlumberger during the third quarter worth $515,000. Peapack Gladstone Financial Corp increased its position in shares of Schlumberger by 15.0% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 268,008 shares of the oil and gas company’s stock valued at $11,244,000 after acquiring an additional 34,861 shares during the period. Finally, Synovus Financial Corp raised its stake in Schlumberger by 30.2% in the 3rd quarter. Synovus Financial Corp now owns 109,717 shares of the oil and gas company’s stock worth $4,603,000 after acquiring an additional 25,465 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on SLB. Morgan Stanley reduced their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Wells Fargo & Company dropped their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Bank of America lowered their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. JPMorgan Chase & Co. dropped their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Finally, Piper Sandler assumed coverage on shares of Schlumberger in a report on Thursday. They set a “neutral” rating and a $47.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.85.

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.