Schlumberger Limited (NYSE:SLB) Director Sells $492,900.00 in Stock

Schlumberger Limited (NYSE:SLB) Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Schlumberger Trading Down 0.5 %

Shares of Schlumberger stock traded down $0.23 during midday trading on Monday, reaching $49.44. The company had a trading volume of 11,207,879 shares, compared to its average volume of 11,129,546. The stock has a fifty day moving average price of $46.30 and a 200 day moving average price of $49.03. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The firm has a market cap of $70.67 billion, a PE ratio of 16.59, a P/E/G ratio of 1.06 and a beta of 1.55. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The company had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 earnings per share. On average, equities analysts anticipate that Schlumberger Limited will post 3.48 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio is currently 36.54%.

Hedge Funds Weigh In On Schlumberger

Several institutional investors have recently added to or reduced their stakes in the business. Oak Harvest Investment Services lifted its stake in Schlumberger by 8.0% in the second quarter. Oak Harvest Investment Services now owns 244,763 shares of the oil and gas company’s stock valued at $11,548,000 after buying an additional 18,231 shares during the period. Reliant Investment Management LLC lifted its stake in Schlumberger by 1.2% in the second quarter. Reliant Investment Management LLC now owns 126,493 shares of the oil and gas company’s stock valued at $5,968,000 after buying an additional 1,450 shares during the period. Commerzbank Aktiengesellschaft FI lifted its stake in Schlumberger by 542.4% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 75,498 shares of the oil and gas company’s stock valued at $3,562,000 after buying an additional 63,746 shares during the period. Hobbs Group Advisors LLC acquired a new position in Schlumberger in the second quarter valued at approximately $103,000. Finally, Sanibel Captiva Trust Company Inc. lifted its stake in Schlumberger by 9.9% in the second quarter. Sanibel Captiva Trust Company Inc. now owns 205,877 shares of the oil and gas company’s stock valued at $9,713,000 after buying an additional 18,540 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SLB. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. BMO Capital Markets decreased their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research report on Monday. HSBC reiterated a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a research report on Thursday, April 4th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $67.72.

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.