Schlumberger (NYSE:SLB) Shares Down 1.8%

Schlumberger Limited (NYSE:SLB) dropped 1.8% during mid-day trading on Friday . The stock traded as low as $49.02 and last traded at $50.00. Approximately 5,416,312 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 11,118,729 shares. The stock had previously closed at $50.94.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of research analyst reports. Barclays cut their price objective on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research report on Wednesday, April 3rd. Bank of America boosted their price objective on Schlumberger from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday. Royal Bank of Canada raised their target price on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Finally, Susquehanna reissued a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a report on Monday, April 8th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus target price of $70.31.

Schlumberger Trading Down 1.2 %

The business has a 50 day simple moving average of $51.56 and a 200 day simple moving average of $52.48. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.00. The company has a market cap of $71.81 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 0.97 and a beta of 1.60.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, equities analysts forecast that Schlumberger Limited will post 3.52 EPS for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be paid a dividend of $0.275 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 2.19%. Schlumberger’s dividend payout ratio is 37.67%.

Insider Buying and Selling at Schlumberger

In other news, CAO Howard Guild sold 22,853 shares of the business’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $51.66, for a total transaction of $1,180,585.98. Following the completion of the sale, the chief accounting officer now owns 22,181 shares in the company, valued at $1,145,870.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CAO Howard Guild sold 22,853 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $51.66, for a total value of $1,180,585.98. Following the transaction, the chief accounting officer now owns 22,181 shares of the company’s stock, valued at approximately $1,145,870.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the sale, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 172,191 shares of company stock worth $8,636,322. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Investment Advisory Services Inc. TX ADV boosted its holdings in Schlumberger by 1.4% during the third quarter. Investment Advisory Services Inc. TX ADV now owns 11,968 shares of the oil and gas company’s stock worth $698,000 after buying an additional 171 shares during the last quarter. Miller Howard Investments Inc. NY boosted its stake in Schlumberger by 0.5% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 32,845 shares of the oil and gas company’s stock worth $1,915,000 after acquiring an additional 176 shares during the last quarter. Stonegate Investment Group LLC grew its holdings in Schlumberger by 1.7% during the third quarter. Stonegate Investment Group LLC now owns 10,864 shares of the oil and gas company’s stock valued at $633,000 after purchasing an additional 177 shares during the period. CI Investments Inc. grew its holdings in Schlumberger by 4.9% during the third quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock valued at $241,000 after purchasing an additional 192 shares during the period. Finally, Montgomery Investment Management Inc. increased its stake in Schlumberger by 1.9% in the third quarter. Montgomery Investment Management Inc. now owns 10,920 shares of the oil and gas company’s stock valued at $637,000 after purchasing an additional 200 shares in the last quarter. 81.99% of the stock is currently owned by 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.