Schlumberger (NYSE:SLB) Reaches New 52-Week Low - Here's Why

Shares of Schlumberger Limited (NYSE:SLB - Get Free Report) reached a new 52-week low on Friday . The stock traded as low as $35.67 and last traded at $35.21, with a volume of 10164085 shares. The stock had previously closed at $39.21.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays dropped their target price on shares of Schlumberger from $54.00 to $53.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. BMO Capital Markets cut their price objective on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Evercore ISI restated an "in-line" rating and issued a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Piper Sandler began coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a "neutral" rating and a $47.00 target price for the company. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Schlumberger currently has an average rating of "Moderate Buy" and an average target price of $54.68.

Schlumberger Stock Performance

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 50 day moving average price of $40.47 and a two-hundred day moving average price of $41.24. The company has a market cap of $48.94 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11.

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Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $0.86 earnings per share. On average, research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th were given a dividend of $0.285 per share. This is a boost from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 3.17%. Schlumberger's dividend payout ratio is currently 36.66%.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger 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 sale, the executive vice president now directly owns 210,502 shares of the company's stock, valued at approximately $8,723,202.88. This trade represents a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 315,905 shares of company stock worth $13,609,283. Corporate insiders own 0.26% of the company's stock.

Hedge Funds Weigh In On Schlumberger

Hedge funds have recently modified their holdings of the business. YANKCOM Partnership bought a new stake in shares of Schlumberger in the 4th quarter valued at about $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger in the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC bought a new stake in shares of Schlumberger in the 4th quarter valued at $34,000. Hager Investment Management Services LLC bought a new stake in Schlumberger during the fourth quarter valued at $38,000. Finally, True Wealth Design LLC grew its holdings in Schlumberger by 584.7% during the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock worth $38,000 after acquiring an additional 842 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.