Schlumberger Limited (NYSE:SLB) EVP Sells $2,514,000.00 in Stock

Schlumberger Limited (NYSE:SLB) EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Schlumberger Trading Up 1.2 %

NYSE SLB opened at $41.74 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $57.75. The company has a market cap of $59.66 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.48 and a beta of 1.51. The business’s fifty day moving average is $42.86 and its 200 day moving average is $45.64.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter last year, the business posted $0.78 EPS. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that Schlumberger Limited will post 3.41 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business 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. This represents a $1.10 annualized dividend and a yield of 2.64%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 36.54%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SLB. Kingswood Wealth Advisors LLC raised its position in Schlumberger by 5.6% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 13,944 shares of the oil and gas company’s stock worth $764,000 after purchasing an additional 745 shares during the last quarter. Sunbelt Securities Inc. raised its position in Schlumberger by 2.2% during the 1st quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock worth $578,000 after purchasing an additional 230 shares during the last quarter. Brookstone Capital Management bought a new position in Schlumberger during the 1st quarter worth $1,758,000. Wealthcare Advisory Partners LLC raised its position in Schlumberger by 15.4% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 7,242 shares of the oil and gas company’s stock worth $397,000 after purchasing an additional 965 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of Schlumberger in the 1st quarter worth about $502,000. 81.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on SLB. TD Cowen cut their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Bank of America cut their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Barclays reduced their price target on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research report on Thursday, October 3rd. Finally, Evercore ISI reduced their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $60.97.

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.