Schlumberger (NYSE:SLB) Shares Down 0.5%

Schlumberger Limited (NYSE:SLB) shares were down 0.5% on Wednesday . The stock traded as low as $50.69 and last traded at $51.41. Approximately 10,349,175 shares traded hands during trading, an increase of 21% from the average daily volume of 8,562,214 shares. The stock had previously closed at $51.67.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SLB shares. Royal Bank of Canada increased their price objective on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Bank of America raised their price target on shares of Schlumberger from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday. HSBC restated a “buy” rating and issued a $71.00 price target on shares of Schlumberger in a report on Thursday, April 4th. Stifel Nicolaus raised their price target on shares of Schlumberger from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Finally, Benchmark restated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a report on Wednesday, April 3rd. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.31.

Schlumberger Trading Down 1.6 %

The firm’s 50 day moving average is $51.56 and its 200 day moving average is $52.48. The company has a market cap of $71.58 billion, a PE ratio of 17.45, a PEG ratio of 0.97 and a beta of 1.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.00.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.75. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. During the same period in the previous year, the business posted $0.63 earnings per share. Schlumberger’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities analysts anticipate that Schlumberger Limited will post 3.52 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.19%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is presently 37.67%.

Insider Transactions at Schlumberger

In related news, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 249,182 shares in the company, valued at approximately $13,151,825.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the sale, the chief financial officer now owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,191 shares of company stock worth $8,636,322. 0.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Schlumberger

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in Schlumberger during the 1st quarter valued at $25,000. Cetera Investment Advisers boosted its stake in Schlumberger by 35.3% in the 1st quarter. Cetera Investment Advisers now owns 39,287 shares of the oil and gas company’s stock worth $1,623,000 after purchasing an additional 10,240 shares in the last quarter. Dakota Wealth Management bought a new position in Schlumberger during the 1st quarter valued at about $232,000. Sequoia Financial Advisors LLC bought a new position in Schlumberger during the 1st quarter valued at about $419,000. Finally, Baird Financial Group Inc. lifted its stake in Schlumberger by 2.9% during the 1st quarter. Baird Financial Group Inc. now owns 112,003 shares of the oil and gas company’s stock valued at $4,627,000 after acquiring an additional 3,209 shares during the period. 81.99% of the stock is currently owned by institutional investors.

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.