Schlumberger (NYSE:SLB) Stock Price Down 1.1% – What’s Next?

Shares of Schlumberger Limited (NYSE:SLB) traded down 1.1% on Tuesday . The company traded as low as $41.96 and last traded at $42.09. 2,389,724 shares traded hands during trading, a decline of 84% from the average session volume of 15,028,451 shares. The stock had previously closed at $42.54.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Piper Sandler began coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Susquehanna reduced their price target 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. Finally, Stifel Nicolaus reduced their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Price Performance

The company’s 50-day simple moving average is $40.64 and its 200 day simple moving average is $42.65. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $57.93 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 9.98 and a beta of 1.52.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same period in the prior year, the firm earned $0.86 EPS. Schlumberger’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts forecast that Schlumberger Limited will post 3.34 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is currently 35.37%.

Insider Buying and Selling

In related news, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the transaction, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the transaction, the executive vice president now directly owns 210,502 shares of the company’s stock, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 258,258 shares of company stock valued at $11,219,004. 0.26% of the stock is owned by company insiders.

Institutional Trading of Schlumberger

A number of large investors have recently bought and sold shares of the stock. Hourglass Capital LLC grew its position in Schlumberger by 22.1% in the fourth quarter. Hourglass Capital LLC now owns 219,345 shares of the oil and gas company’s stock valued at $8,410,000 after acquiring an additional 39,675 shares during the period. VeraBank N.A. increased its holdings in shares of Schlumberger by 7.5% during the fourth quarter. VeraBank N.A. now owns 7,957 shares of the oil and gas company’s stock worth $305,000 after buying an additional 557 shares in the last quarter. Sheaff Brock Investment Advisors LLC acquired a new stake in shares of Schlumberger during the fourth quarter worth approximately $647,000. Allworth Financial LP raised its position in Schlumberger by 51.3% in the 4th quarter. Allworth Financial LP now owns 7,716 shares of the oil and gas company’s stock valued at $321,000 after purchasing an additional 2,615 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in Schlumberger in the fourth quarter worth $1,815,000. 81.99% of the stock is currently owned by 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.