Schlumberger (NYSE:SLB) Shares Up 1.4% – What’s Next?

by · The Cerbat Gem

Schlumberger Limited (NYSE:SLB – Get Free Report) shares shot up 1.4% on Thursday . The stock traded as high as $45.12 and last traded at $44.85. 2,457,101 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 11,031,389 shares. The stock had previously closed at $44.21.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. BMO Capital Markets decreased their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday. Susquehanna dropped their price target on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a report on Thursday, July 11th. Evercore ISI boosted their target price on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. TD Cowen increased their target price on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Bank of America dropped their price target on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.08.

View Our Latest Report on SLB

Schlumberger Trading Up 1.3 %

The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The company has a market cap of $63.57 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 0.98 and a beta of 1.51. The firm has a 50 day moving average price of $43.14 and a two-hundred day moving average price of $46.55.

Schlumberger (NYSE:SLB – Get Free Report) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, equities analysts forecast that Schlumberger Limited will post 3.47 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.46%. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Insider Activity

In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the transaction, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the transaction, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock valued at $9,048,624 in the last ninety days. 0.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On Schlumberger

A number of institutional investors have recently modified their holdings of SLB. Register Financial Advisors LLC bought a new stake in Schlumberger during the 1st quarter valued at $27,000. Manchester Capital Management LLC raised its holdings in shares of Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares during the last quarter. Bruce G. Allen Investments LLC raised its holdings in shares of Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares during the last quarter. Transcendent Capital Group LLC bought a new position in Schlumberger in the 4th quarter valued at about $32,000. Finally, Unique Wealth Strategies LLC acquired a new position in Schlumberger during the 2nd quarter valued at about $30,000. 81.99% of the stock is owned by institutional investors and hedge funds.

About Schlumberger

(Get Free Report)

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.

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