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

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SLB shares. Wells Fargo & Company cut their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Evercore ISI reduced their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, October 21st. UBS Group dropped their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. reduced their target price on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Finally, Barclays lowered their price target on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Trading Down 1.2 %

The firm has a market cap of $61.06 billion, a P/E ratio of 13.92, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52. 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 company’s fifty day moving average price is $42.25 and its two-hundred day moving average price is $44.96.

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, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. Schlumberger’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts predict that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.54%. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. ORG Partners LLC increased 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 valued at $25,000 after purchasing an additional 484 shares during the last quarter. Bruce G. Allen Investments LLC increased its stake in shares of Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares during the last quarter. Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger in the 2nd quarter valued at approximately $30,000. Manchester Capital Management LLC boosted its stake in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares during the last quarter. Finally, Riverview Trust Co grew its holdings in Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 308 shares during the period. Institutional investors and hedge funds 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.