Schlumberger (NYSE:SLB) Shares Gap Down to $50.94

Schlumberger Limited (NYSE:SLB)’s share price gapped down before the market opened on Friday . The stock had previously closed at $50.94, but opened at $49.66. Schlumberger shares last traded at $49.77, with a volume of 2,417,098 shares traded.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SLB. Susquehanna reaffirmed a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research report on Monday, April 8th. Benchmark reiterated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Wednesday, April 3rd. Stifel Nicolaus lifted their price target on Schlumberger from $63.00 to $64.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Wells Fargo & Company lifted their price target on Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. Finally, Bank of America lifted their price target on Schlumberger from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $70.31.

Schlumberger Stock Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.32. The company has a market cap of $71.51 billion, a P/E ratio of 17.45, a P/E/G ratio of 0.97 and a beta of 1.60. The firm has a 50 day moving average price of $51.56 and a 200-day moving average price of $52.48.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. During the same quarter in the previous year, the firm earned $0.63 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. On average, research analysts predict that Schlumberger Limited will post 3.52 EPS for the current year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a $0.275 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 2.20%. Schlumberger’s dividend payout ratio is 37.67%.

Insider Buying and Selling at Schlumberger

In other news, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the sale, the chief financial officer now directly owns 242,932 shares in the company, valued at approximately $11,816,212.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the transaction, the chief financial officer now directly owns 242,932 shares in the company, valued at approximately $11,816,212.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders sold a total of 172,191 shares of company stock valued at $8,636,322 in the last quarter. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLB. BluePath Capital Management LLC bought a new stake in Schlumberger in the 3rd quarter valued at $25,000. MCF Advisors LLC boosted its position in Schlumberger by 1,355.9% during the 3rd quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 461 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger in the first quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Schlumberger in the fourth quarter worth $26,000. Finally, Coppell Advisory Solutions LLC acquired a new position in Schlumberger during the second quarter worth $27,000. 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.