SLB Sees Unusually Large Options Volume (NYSE:SLB)

SLB Limited (NYSE:SLB) saw unusually large options trading activity on Friday. Stock investors bought 36,020 call options on the company. This represents an increase of approximately 31% compared to the typical daily volume of 27,435 call options.

SLB Trading Up 2.6%

Shares of SLB traded up $0.93 during trading hours on Friday, reaching $36.12. 15,093,367 shares of the company traded hands, compared to its average volume of 16,262,561. SLB has a 12 month low of $31.11 and a 12 month high of $44.97. The company has a market capitalization of $53.96 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 10.19 and a beta of 0.97. The company’s fifty day moving average price is $35.02 and its two-hundred day moving average price is $34.81. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40.

SLB (NYSE:SLB) last issued its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.67 by $0.02. SLB had a net margin of 10.34% and a return on equity of 18.97%. The business had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.99 billion. During the same period last year, the business posted $0.89 earnings per share. SLB’s quarterly revenue was down 2.5% compared to the same quarter last year. Equities research analysts predict that SLB will post 3.38 earnings per share for the current fiscal year.

SLB Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio is presently 44.02%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Zacks Research raised SLB from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Barclays upped their price target on shares of SLB from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Rothschild Redb upgraded shares of SLB to a “strong-buy” rating in a research report on Monday, November 3rd. Citigroup upped their price objective on shares of SLB from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Finally, Piper Sandler set a $42.00 target price on SLB and gave the stock an “overweight” rating in a research note on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, SLB has an average rating of “Moderate Buy” and an average price target of $51.28.

Insiders Place Their Bets

In other news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total value of $2,261,400.00. Following the sale, the executive vice president owned 159,371 shares of the company’s stock, valued at $6,006,692.99. This represents a 27.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 138,174 shares of company stock valued at $5,107,677 over the last three months. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On SLB

A number of institutional investors have recently added to or reduced their stakes in SLB. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of SLB in the 2nd quarter worth about $25,000. Atticus Wealth Management LLC bought a new stake in SLB during the second quarter worth about $29,000. Root Financial Partners LLC purchased a new stake in shares of SLB in the 3rd quarter worth approximately $29,000. Corsicana & Co. bought a new position in SLB during the 3rd quarter valued at approximately $31,000. Finally, Strengthening Families & Communities LLC purchased a new position in SLB during the third quarter valued at $31,000. Institutional investors own 81.99% of the company’s stock.

SLB 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.