Schlumberger (NYSE:SLB) Trading 1.6% Higher

Schlumberger Limited (NYSE:SLB)’s share price rose 1.6% during trading on Thursday . The company traded as high as $51.72 and last traded at $51.64. Approximately 2,083,128 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 11,121,109 shares. The stock had previously closed at $50.81.

Analyst Upgrades and Downgrades

SLB has been the subject of several analyst reports. Wells Fargo & Company boosted their price target on shares of Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. Benchmark reissued a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Wednesday, April 3rd. Susquehanna reissued a “positive” rating and set a $77.00 price target on shares of Schlumberger in a report on Monday, April 8th. HSBC reaffirmed a “buy” rating and issued a $71.00 price objective on shares of Schlumberger in a report on Thursday, April 4th. Finally, Bank of America upped their price objective on shares of Schlumberger from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, April 15th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus target price of $70.31.

Schlumberger Trading Down 2.2 %

The company has a fifty day simple moving average of $51.62 and a 200-day simple moving average of $52.43. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The stock has a market cap of $71.14 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 0.97 and a beta of 1.60.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data 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. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 EPS. On average, research analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a $0.275 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.21%. Schlumberger’s dividend payout ratio is currently 37.67%.

Insider Activity

In other news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the transaction, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Mogharbel Khaled Al sold 38,570 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $50.42, for a total value of $1,944,699.40. Following the transaction, the executive vice president now owns 386,841 shares in the company, valued at $19,504,523.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was 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 approximately $12,688,319.64. The disclosure for this sale can be found here. Insiders have sold 172,191 shares of company stock worth $8,636,322 in the last 90 days. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

A number of large investors have recently added to or reduced their stakes in SLB. BluePath Capital Management LLC bought a new stake in Schlumberger during the third quarter worth approximately $25,000. Acadian Asset Management LLC bought a new stake in shares of Schlumberger in the first quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Schlumberger in the fourth quarter valued at approximately $26,000. Register Financial Advisors LLC bought a new stake in shares of Schlumberger in the first quarter valued at approximately $27,000. Finally, Coppell Advisory Solutions LLC bought a new stake in shares of Schlumberger in the second quarter valued at approximately $27,000. Institutional investors own 81.99% of the company’s stock.

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.