Schlumberger Limited (NYSE:SLB) Director Sells 8,000 Shares of Stock

Schlumberger Limited (NYSE:SLB) Director La Chevardiere Patrick De sold 8,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $41.94, for a total transaction of $335,520.00. Following the sale, the director now directly owns 22,811 shares of the company’s stock, valued at $956,693.34. The trade was a 25.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Schlumberger Stock Down 0.2 %

Shares of SLB opened at $36.83 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market cap of $52.01 billion, a P/E ratio of 11.84, a PEG ratio of 1.42 and a beta of 1.51. The stock’s 50 day moving average is $42.06 and its two-hundred day moving average is $43.75. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share. Analysts predict that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of recent analyst reports. Barclays lowered their price objective on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday. Dbs Bank started coverage on Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target for the company. Susquehanna cut their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. TD Cowen decreased their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. Finally, BMO Capital Markets cut their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.85.

Institutional Trading of Schlumberger

Large investors have recently made changes to their positions in the company. ORG Partners LLC grew its position in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in Schlumberger in the 3rd quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new stake in Schlumberger during the third quarter worth about $37,000. DiNuzzo Private Wealth Inc. raised its position in shares of Schlumberger by 1,068.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 876 shares during the period. Finally, J. Stern & Co. LLP acquired a new position in shares of Schlumberger in the 3rd quarter valued at $47,000. 81.99% of the stock is currently owned by hedge funds and other 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.