Schlumberger Limited (NYSE: SLB – Get Rating) shares saw unusually-high trading volume on Monday. Approximately 1,203,425 shares traded hands during trading, a decrease of 92% from the previous session’s volume of 15,633,446 shares.The stock last traded at $ 35.32 and had previously closed at $ 35.06.
A number of brokerages recently issued reports on SLB. Stifel Nicolaus increased their price target on shares of Schlumberger from $ 44.00 to $ 50.00 in a report on Friday, April 8th. Cowen increased their price target on shares of Schlumberger from $ 42.00 to $ 48.00 and gave the stock an “outperform” rating in a report on Thursday, March 31st. Piper Sandler raised Schlumberger from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $ 43.00 to $ 55.00 in a report on Monday, April 11th. HSBC raised Schlumberger from a “hold” rating to a “buy” rating and upped their price target for the stock from $ 4.60 to $ 44.20 in a report on Wednesday, April 27th. Finally, StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a report on Monday, April 25th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus price target of $ 46.85.
The stock’s 50-day moving average price is $ 41.90 and its 200 day moving average price is $ 39.40. The company has a quick ratio of 0.89, a current ratio of 1.24 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $ 52.26 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 0.41 and a beta of 1.90.
Schlumberger (NYSE: SLB – Get Rating) last released its quarterly earnings data on Friday, April 22nd. The oil and gas company reported $ 0.34 EPS for the quarter, beating analysts’ consensus estimates of $ 0.32 by $ 0.02. The company had revenue of $ 5.96 billion during the quarter, compared to the estimate consensus of $ 5.90 billion. Schlumberger had a net margin of 8.84% and a return on equity of 14.02%. Schlumberger’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $ 0.21 EPS. On average, sell-side analysts anticipate that Schlumberger Limited will post 1.84 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 14th. Stockholders of record on Wednesday, June 1st will be issued a dividend of $ 0.175 per share. This is a boost from Schlumberger’s previous quarterly dividend of $ 0.13. This represents a $ 0.70 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, May 31st. Schlumberger’s payout ratio is currently 47.62%.
In other news, insider Katharina Beumelburg sold 4,200 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $ 40.28, for a total transaction of $ 169,176.00. Following the completion of the sale, the insider now owns 519 shares in the company, valued at approximately $ 20,905.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Limited / Nv Schlumberger sold 14,500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $ 15.50, for a total transaction of $ 224,750,000.00. Following the sale, the insider now owns 35,101,961 shares of the company stock, valued at approximately $ 544,080,395.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,567,459 shares of company stock worth $ 430,840,521. Insiders own 0.28% of the company stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Offit Capital Advisors LLC grew its holdings in shares of Schlumberger by 21.2% during the 1st quarter. Offit Capital Advisors LLC now owns 10,922 shares of the oil and gas company stock worth $ 451,000 after purchasing an additional 1,910 shares during the period. Brasada Capital Management LP purchased a new position in shares of Schlumberger during the 1st quarter worth $ 413,000. Walleye Capital LLC grew its holdings in shares of Schlumberger by 188.5% during the 1st quarter. Walleye Capital LLC now owns 286,533 shares of the oil and gas company stock worth $ 11,837,000 after purchasing an additional 187,219 shares during the period. Kestra Private Wealth Services LLC acquired a new position in shares of Schlumberger in the 1st quarter worth approximately $ 341,000. Finally, Gradient Investments LLC lifted its holdings in shares of Schlumberger by 436.6% in the 1st quarter. Gradient Investments LLC now owns 7,856 shares of the oil and gas company stock worth $ 325,000 after acquiring an additional 6,392 shares during the last quarter. Institutional investors and hedge funds own 76.34% of the company stock.
Schlumberger Company Profile: (NYSE: SLB)
Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Performance Reservoir, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.
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