Schlumberger Limited (NYSE:SLB) Insider Sells $1,104,430.80 in Stock

Schlumberger Limited (NYSE:SLB) insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the transaction, the insider now directly owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. This trade represents a 33.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Schlumberger Trading Up 1.8 %

Shares of SLB stock opened at $41.63 on Friday. The company’s 50-day moving average price is $40.51 and its 200-day moving average price is $41.82. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The stock has a market cap of $56.61 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 10.10 and a beta of 1.51. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS. As a group, equities analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a $0.285 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.74%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s payout ratio is 36.66%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. BMO Capital Markets cut their target price on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. 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, December 17th. Finally, Stifel Nicolaus dropped their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $55.81.

Institutional Trading of Schlumberger

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Schlumberger in the 4th quarter valued at about $56,507,000. Employees Retirement System of Texas raised its holdings in Schlumberger by 2.7% in the 4th quarter. Employees Retirement System of Texas now owns 1,591,235 shares of the oil and gas company’s stock valued at $61,008,000 after buying an additional 41,129 shares during the period. Heck Capital Advisors LLC purchased a new stake in Schlumberger in the 4th quarter valued at about $47,000. B. Riley Wealth Advisors Inc. raised its holdings in Schlumberger by 16.5% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 42,508 shares of the oil and gas company’s stock valued at $1,641,000 after buying an additional 6,012 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in Schlumberger by 14.7% in the 4th quarter. Mackenzie Financial Corp now owns 379,967 shares of the oil and gas company’s stock valued at $14,568,000 after buying an additional 48,705 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

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.