Schlumberger (NYSE:SLB) Shares Down 1.1% – Time to Sell?

Schlumberger Limited (NYSE:SLB) shares traded down 1.1% during trading on Tuesday . The company traded as low as $40.87 and last traded at $40.93. 2,619,462 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 11,095,161 shares. The stock had previously closed at $41.39.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research note on Thursday, October 3rd. Susquehanna decreased their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. TD Cowen decreased their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. UBS Group cut their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Benchmark reissued a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Trading Down 0.2 %

The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $42.63 and a 200-day simple moving average of $45.31. The firm has a market cap of $57.27 billion, a P/E ratio of 13.38, a P/E/G ratio of 1.47 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share 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 period in the prior year, the business earned $0.78 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts expect that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is currently 36.54%.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Schlumberger

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Crescent Grove Advisors LLC purchased a new position in shares of Schlumberger in the second quarter worth about $257,000. National Bank of Canada FI grew its holdings in 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 during the period. Mission Wealth Management LP acquired a new stake in Schlumberger during the first quarter worth about $245,000. Public Sector Pension Investment Board grew its holdings in 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. Finally, Canada Pension Plan Investment Board grew its holdings in 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. 81.99% of the stock is currently owned by hedge funds and other 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.