Schlumberger (NYSE:SLB) Shares Down 2.1% – Time to Sell?

Schlumberger Limited (NYSE:SLB) shares were down 2.1% during trading on Thursday . The stock traded as low as $42.85 and last traded at $42.87. Approximately 2,799,695 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 11,211,605 shares. The stock had previously closed at $43.77.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Bank of America dropped their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. UBS Group lowered their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. TD Cowen reduced their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Susquehanna lowered their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Finally, Dbs Bank initiated coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price for the company. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Trading Down 0.1 %

The business has a 50 day moving average of $42.21 and a 200 day moving average of $44.90. The firm has a market capitalization of $60.98 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.54 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12.

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

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.55%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on 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 in the company, valued at $8,880,160.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On Schlumberger

Large investors have recently modified their holdings of the business. Crescent Grove Advisors LLC bought a new stake in Schlumberger during the 2nd quarter worth approximately $257,000. National Bank of Canada FI increased its position in shares of Schlumberger by 15.0% during the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after acquiring an additional 51,637 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Schlumberger by 0.6% during the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after acquiring an additional 11,813 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Schlumberger by 9.0% during the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after acquiring an additional 64,974 shares during the period. Finally, Townsend Asset Management Corp NC ADV bought a new stake in Schlumberger in the 3rd quarter valued at $2,063,000. 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.