Gavin Rennick Sells 26,990 Shares of Schlumberger Limited (NYSE:SLB) Stock

Schlumberger Limited (NYSE:SLB) insider Gavin Rennick sold 26,990 shares of the business’s stock in a transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Schlumberger Price Performance

Shares of NYSE SLB traded down $0.49 during midday trading on Wednesday, reaching $40.53. The company’s stock had a trading volume of 11,601,898 shares, compared to its average volume of 14,064,852. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The company has a market cap of $55.11 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 10.10 and a beta of 1.51. The company has a 50 day moving average price of $40.27 and a 200 day moving average price of $41.86. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

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

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 2.81%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio is currently 36.66%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SLB. TD Cowen lifted their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Stifel Nicolaus cut their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Piper Sandler assumed coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, Barclays reduced their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Hedge Funds Weigh In On Schlumberger

Institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC increased its position in shares of Schlumberger by 4,640.0% in the third quarter. International Assets Investment Management LLC now owns 202,635 shares of the oil and gas company’s stock worth $8,501,000 after acquiring an additional 198,360 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Schlumberger by 6.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 47,548 shares of the oil and gas company’s stock worth $1,995,000 after purchasing an additional 2,986 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Schlumberger by 27.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 87,301 shares of the oil and gas company’s stock worth $3,692,000 after purchasing an additional 18,797 shares in the last quarter. GHP Investment Advisors Inc. raised its stake in Schlumberger by 36.6% during the 3rd quarter. GHP Investment Advisors Inc. now owns 1,411 shares of the oil and gas company’s stock valued at $59,000 after purchasing an additional 378 shares during the period. Finally, Modera Wealth Management LLC purchased a new stake in shares of Schlumberger in the third quarter valued at $235,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.