Schlumberger Limited (NYSE:SLB) Director Sells $335,520.00 in Stock

Schlumberger Limited (NYSE:SLB - Get Free Report) Director La Chevardiere Patrick De sold 8,000 shares of the business's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $41.94, for a total value of $335,520.00. Following the transaction, the director now directly owns 22,811 shares of the company's stock, valued at $956,693.34. This trade represents a 25.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Schlumberger Stock Down 0.2 %

SLB traded down $0.08 during trading on Friday, hitting $36.83. 36,341,695 shares of the company's stock were exchanged, compared to its average volume of 11,325,839. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The stock has a market cap of $52.01 billion, a P/E ratio of 11.84, a PEG ratio of 1.42 and a beta of 1.51. The business's 50 day moving average is $42.06 and its two-hundred day moving average is $43.75. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm's revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 EPS. As a group, equities analysts expect that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.99%. Schlumberger's dividend payout ratio is presently 35.37%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SLB. Principal Financial Group Inc. grew its position in Schlumberger by 8.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,487,067 shares of the oil and gas company's stock worth $188,232,000 after purchasing an additional 332,500 shares in the last quarter. Syntax Research Inc. bought a new position in shares of Schlumberger in the third quarter valued at approximately $3,491,000. Copley Financial Group Inc. purchased a new stake in shares of Schlumberger during the third quarter valued at approximately $515,000. Peapack Gladstone Financial Corp lifted its holdings in Schlumberger by 15.0% during the third quarter. Peapack Gladstone Financial Corp now owns 268,008 shares of the oil and gas company's stock worth $11,244,000 after acquiring an additional 34,861 shares during the period. Finally, Synovus Financial Corp lifted its holdings in Schlumberger by 30.2% during the third quarter. Synovus Financial Corp now owns 109,717 shares of the oil and gas company's stock worth $4,603,000 after acquiring an additional 25,465 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Piper Sandler began coverage on shares of Schlumberger in a report on Thursday. They set a "neutral" rating and a $47.00 target price on the stock. Evercore ISI reduced their price objective on shares of Schlumberger from $74.00 to $62.00 and set an "outperform" rating on the stock in a research note on Monday, October 21st. Barclays lowered their target price on Schlumberger from $61.00 to $53.00 and set an "overweight" rating for the company in a research report on Wednesday. Susquehanna reduced their price target on Schlumberger from $60.00 to $56.00 and set a "positive" rating on the stock in a research report on Monday, October 21st. Finally, Wells Fargo & Company decreased their price target on Schlumberger from $49.00 to $46.00 and set an "equal weight" rating for the company in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $58.85.

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.