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 company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value of $1,104,430.80. Following the completion of the transaction, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. This represents a 33.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Schlumberger Stock Performance

NYSE:SLB traded down $0.49 during mid-day trading on Wednesday, hitting $40.53. 11,601,898 shares of the company’s stock traded hands, compared to its average volume of 14,064,852. The firm has a market capitalization 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 firm has a 50 day moving average of $40.27 and a two-hundred day moving average 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 Limited has a 12 month low of $36.52 and a 12 month high of $55.69.

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

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 2.81%. This is a positive change 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 (DPR) is currently 36.66%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Prospera Private Wealth LLC acquired a new position in Schlumberger in the 3rd quarter valued at approximately $29,000. YANKCOM Partnership acquired a new position in shares of Schlumberger in the fourth quarter valued at $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at $32,000. Ashton Thomas Securities LLC bought a new position in Schlumberger in the third quarter worth $37,000. Finally, Golden State Wealth Management LLC acquired a new stake in Schlumberger during the fourth quarter worth $34,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. BMO Capital Markets cut their price target on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $55.81.

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.