Schlumberger (NYSE:SLB) Stock Price Down 1.2% – Should You Sell?

Schlumberger Limited (NYSE:SLB) was down 1.2% during trading on Monday . The stock traded as low as $40.46 and last traded at $41.22. Approximately 2,383,200 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 11,098,025 shares. The stock had previously closed at $41.74.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SLB shares. Evercore ISI lowered their price objective on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Citigroup dropped their price target on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research note on Thursday, October 3rd. Piper Sandler lowered their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Finally, Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Trading Down 0.4 %

The stock has a market cap of $59.45 billion, a P/E ratio of 13.75, a P/E/G ratio of 1.47 and a beta of 1.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The stock’s fifty day moving average is $42.86 and its 200 day moving average is $45.52.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the previous year, the business earned $0.78 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.64%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This trade 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 available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Institutional Trading of Schlumberger

A number of large investors have recently made changes to their positions in SLB. Vanguard Group Inc. boosted its position in Schlumberger by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock valued at $7,352,771,000 after buying an additional 1,868,688 shares during the period. Capital World Investors raised its stake in shares of Schlumberger by 72.3% during the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after acquiring an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after purchasing an additional 10,606,191 shares during the period. Legal & General Group Plc grew its stake in Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after purchasing an additional 1,560,684 shares in the last quarter. Finally, Boston Partners increased its holdings in Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after purchasing an additional 3,069,395 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.