Schlumberger (NYSE:SLB) Stock Price Down 2.1% - Here's What Happened

Schlumberger Limited (NYSE:SLB - Get Free Report) shares traded down 2.1% during mid-day trading on Tuesday . The company traded as low as $34.24 and last traded at $33.90. 1,584,300 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 17,138,732 shares. The stock had previously closed at $34.62.

Analysts Set New Price Targets

A number of research analysts have recently commented on SLB shares. JPMorgan Chase & Co. upped their price target on Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Barclays cut their target price on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday. Wells Fargo & Company upgraded shares of Schlumberger from an "equal weight" rating to an "overweight" rating and decreased their price target for the stock from $46.00 to $44.00 in a research report on Tuesday, April 8th. Citigroup boosted their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Finally, Jefferies Financial Group decreased their target price on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $53.85.

Schlumberger Trading Down 1.1 %

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 market cap of $46.96 billion, a P/E ratio of 11.10, a PEG ratio of 10.10 and a beta of 1.11. The business's 50 day simple moving average is $38.61 and its two-hundred day simple moving average is $40.42.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). The business had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. During the same quarter last year, the business earned $0.75 EPS. As a group, analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the sale, the executive vice president now owns 210,502 shares in the company, valued at approximately $8,723,202.88. This trade represents a 22.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the business'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 completion of the transaction, the insider now owns 30,829 shares in the company, valued at $1,245,799.89. The trade was a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 117,647 shares of company stock valued at $4,876,679 over the last ninety days. 0.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. YANKCOM Partnership bought a new stake in Schlumberger in the fourth quarter worth about $31,000. Alpine Bank Wealth Management purchased a new position in Schlumberger in the first quarter valued at approximately $34,000. Stonebridge Financial Group LLC bought a new stake in shares of Schlumberger in the fourth quarter valued at $32,000. Golden State Wealth Management LLC purchased a new position in shares of Schlumberger during the 4th quarter valued at $34,000. Finally, Sound Income Strategies LLC grew its stake in shares of Schlumberger by 265.4% during the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock worth $40,000 after acquiring an additional 698 shares during the period. Institutional investors own 81.99% of the company's stock.

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.