Schlumberger (NYSE:SLB) Shares Up 2.1% – Here’s What Happened

Schlumberger Limited (NYSE:SLB) traded up 2.1% during trading on Friday . The company traded as high as $42.16 and last traded at $42.13. 2,893,018 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 11,079,968 shares. The stock had previously closed at $41.25.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. BMO Capital Markets decreased their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Morgan Stanley decreased their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Benchmark reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. Bank of America cut their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, UBS Group dropped their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Stock Up 1.4 %

The firm has a 50 day moving average of $43.00 and a 200 day moving average of $45.75. The firm has a market cap of $59.76 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.48 and a beta of 1.51. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts predict that Schlumberger Limited will post 3.41 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.63%. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLB. ORG Partners LLC boosted its holdings in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares in the last quarter. Register Financial Advisors LLC bought a new position in shares of Schlumberger in the first quarter valued at approximately $27,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 392 shares in the last quarter. Unique Wealth Strategies LLC bought a new position in shares of Schlumberger in the second quarter valued at approximately $30,000. Finally, Manchester Capital Management LLC lifted its holdings in shares of Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

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.