Schlumberger (NYSE:SLB) Shares Down 0.5% – What’s Next?

Schlumberger Limited (NYSE:SLB)’s share price fell 0.5% on Friday . The company traded as low as $41.72 and last traded at $41.81. 4,104,861 shares were traded during trading, a decline of 72% from the average session volume of 14,820,272 shares. The stock had previously closed at $42.03.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Stifel Nicolaus cut their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. TD Cowen upped their price target on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Piper Sandler assumed coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price for the company. Six 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.81.

Schlumberger Stock Performance

The company has a market capitalization of $59.73 billion, a P/E ratio of 13.60, a P/E/G ratio of 9.98 and a beta of 1.52. The business’s fifty day simple moving average is $40.74 and its 200-day simple moving average is $42.75. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9,241,140 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 earnings per share. As a group, equities analysts anticipate that Schlumberger Limited will post 3.34 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 2.70%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s payout ratio is presently 35.37%.

Insider Activity

In other news, insider Dianne B. Ralston sold 43,161 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total value of $1,897,357.56. Following the sale, the insider now directly owns 235,024 shares in the company, valued at approximately $10,331,655.04. This represents a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the transaction, the vice president now directly owns 11,240 shares in the company, valued at $496,808. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,258 shares of company stock valued at $8,732,604. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Schlumberger

A number of hedge funds have recently added to or reduced their stakes in the stock. Patron Partners LLC boosted its holdings in shares of Schlumberger by 3.6% in the fourth quarter. Patron Partners LLC now owns 8,498 shares of the oil and gas company’s stock valued at $326,000 after purchasing an additional 297 shares during the period. U.S. Capital Wealth Advisors LLC raised its position in Schlumberger by 17.4% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 144,284 shares of the oil and gas company’s stock valued at $5,532,000 after purchasing an additional 21,435 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Schlumberger by 21.5% in the 4th quarter. Spire Wealth Management now owns 19,950 shares of the oil and gas company’s stock worth $765,000 after buying an additional 3,527 shares during the period. Osborne Partners Capital Management LLC increased its stake in shares of Schlumberger by 3.2% during the fourth quarter. Osborne Partners Capital Management LLC now owns 222,414 shares of the oil and gas company’s stock valued at $8,527,000 after buying an additional 6,889 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Schlumberger by 0.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock valued at $2,174,000 after acquiring an additional 262 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

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.