Schlumberger (NYSE:SLB) Trading Up 0.3% – Here’s What Happened

Shares of Schlumberger Limited (NYSE:SLB) traded up 0.3% on Thursday . The company traded as high as $40.59 and last traded at $40.27. 2,524,293 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 11,122,643 shares. The stock had previously closed at $40.15.

Analyst Ratings Changes

SLB has been the topic of several research reports. Dbs Bank started coverage on Schlumberger in a research report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price on the stock. JPMorgan Chase & Co. decreased their price target on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Stifel Nicolaus reissued a “buy” rating and set a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Piper Sandler reduced their price objective on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, Evercore ISI lowered their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Stock Down 0.2 %

The company has a market capitalization of $57.26 billion, a PE ratio of 13.38, a PEG ratio of 1.47 and a beta of 1.51. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $42.63 and its two-hundred day moving average is $45.31.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 earnings per share. On average, analysts anticipate that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.75%. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Institutional investors have recently modified their holdings of the stock. Graypoint LLC lifted its position in Schlumberger by 3.4% in the third quarter. Graypoint LLC now owns 9,536 shares of the oil and gas company’s stock worth $400,000 after buying an additional 311 shares during the last quarter. Spinnaker Trust lifted its holdings in shares of Schlumberger by 21.8% in the 3rd quarter. Spinnaker Trust now owns 27,807 shares of the oil and gas company’s stock worth $1,167,000 after acquiring an additional 4,984 shares during the last quarter. Consilium Wealth Advisory LLC boosted its stake in shares of Schlumberger by 6.7% during the 3rd quarter. Consilium Wealth Advisory LLC now owns 16,302 shares of the oil and gas company’s stock worth $684,000 after purchasing an additional 1,017 shares during the period. Concurrent Investment Advisors LLC grew its holdings in Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after purchasing an additional 14,376 shares during the last quarter. Finally, Harvest Portfolios Group Inc. raised its position in Schlumberger by 4.9% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 33,720 shares of the oil and gas company’s stock worth $1,415,000 after purchasing an additional 1,566 shares during the period. 81.99% of the stock is owned by 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.