Schlumberger Limited (NYSE:SLB) EVP Abdellah Merad Sells 60,000 Shares

Schlumberger Limited (NYSE:SLB) EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the sale, the executive vice president now owns 210,502 shares of the company’s stock, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Schlumberger Stock Down 1.1 %

Shares of NYSE SLB opened at $40.87 on Thursday. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The business has a fifty day moving average of $40.69 and a two-hundred day moving average of $42.66. The stock has a market cap of $57.25 billion, a PE ratio of 13.14, a PEG ratio of 9.98 and a beta of 1.52.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $0.86 EPS. As a group, equities research analysts expect that Schlumberger Limited will post 3.34 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, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is presently 36.66%.

Institutional Investors Weigh In On Schlumberger

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ORG Partners LLC grew its holdings in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in Schlumberger during the 3rd quarter worth about $29,000. YANKCOM Partnership bought a new stake in Schlumberger during the 4th quarter worth about $31,000. Stonebridge Financial Group LLC acquired a new stake in Schlumberger in the 4th quarter valued at about $32,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Schlumberger in the fourth quarter worth about $34,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLB has been the subject of several recent analyst reports. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Piper Sandler assumed coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective on the stock. Susquehanna dropped their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Wells Fargo & Company reduced their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Finally, Barclays dropped their price objective on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.81.

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.