Schlumberger (NYSE:SLB) Stock Price Down 1.2% After Insider Selling

Schlumberger Limited (NYSE:SLB)’s stock price fell 1.2% during mid-day trading on Friday following insider selling activity. The company traded as low as $39.85 and last traded at $40.52. 3,300,603 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 14,761,776 shares. The stock had previously closed at $41.02.

Specifically, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the transaction, the insider now directly owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the executive vice president now owns 210,502 shares in the company, valued at $8,723,202.88. This represents a 22.18 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SLB shares. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Citigroup upped their price target on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Barclays reduced their price target 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. Finally, Susquehanna decreased their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Stock Down 2.0 %

The business’s fifty day moving average is $40.49 and its two-hundred day moving average is $42.58. 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 company has a market cap of $56.32 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 9.70 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same period in the previous year, the company posted $0.86 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio is 35.37%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky boosted its holdings in Schlumberger by 25.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after acquiring an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in shares of Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after acquiring an additional 16,350 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after purchasing an additional 65,318 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after purchasing an additional 14,376 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in Schlumberger by 26.0% in the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock valued at $12,880,000 after purchasing an additional 63,413 shares during the last quarter. Hedge funds and other 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.