Schlumberger (NYSE:SLB) Stock Price Up 0.7% – Here’s Why

Schlumberger Limited (NYSE:SLB)’s stock price was up 0.7% during trading on Thursday . The stock traded as high as $42.17 and last traded at $41.94. Approximately 4,198,361 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 14,498,571 shares. The stock had previously closed at $41.63.

Wall Street Analyst Weigh In

SLB has been the topic of a number of analyst reports. Susquehanna reduced their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Evercore ISI reiterated an “in-line” rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Stifel Nicolaus decreased their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Six 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Trading Up 0.9 %

The firm has a market cap of $59.31 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 3.58 and a beta of 1.52. The business has a fifty day moving average of $40.79 and a two-hundred day moving average of $42.79. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same period last year, the company posted $0.86 EPS. The company’s revenue was up 3.3% on a year-over-year basis. As a group, equities analysts expect that Schlumberger Limited will post 3.33 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.71%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is currently 35.37%.

Insider Transactions at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the sale, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the transaction, the vice president now directly owns 11,240 shares in the company, valued at $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 198,258 shares of company stock worth $8,732,604 in the last three months. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Several large investors have recently modified their holdings of SLB. Teachers Retirement System of The State of Kentucky lifted its position in shares of Schlumberger by 25.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after purchasing an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of Schlumberger by 27.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after buying an additional 16,350 shares during the period. Victory Capital Management Inc. grew its position in shares of Schlumberger by 8.7% during the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after buying an additional 65,318 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after acquiring an additional 14,376 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in Schlumberger by 26.0% in the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock worth $12,880,000 after acquiring an additional 63,413 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.