Schlumberger (NYSE:SLB) Trading Down 1.1% - Here's What Happened

Shares of Schlumberger Limited (NYSE:SLB - Get Free Report) traded down 1.1% during mid-day trading on Tuesday . The company traded as low as $41.96 and last traded at $42.09. 2,389,724 shares were traded during mid-day trading, a decline of 84% from the average session volume of 15,028,451 shares. The stock had previously closed at $42.54.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of research reports. Susquehanna reduced their price objective on Schlumberger from $60.00 to $56.00 and set a "positive" rating for the company in a research report on Monday, October 21st. Royal Bank of Canada reissued an "outperform" rating and set a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. Atb Cap Markets downgraded shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. BMO Capital Markets dropped their price objective on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Wells Fargo & Company reduced their price target on shares of Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 17th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $55.81.

Schlumberger Trading Down 2.0 %

The business has a 50-day moving average of $40.49 and a 200-day moving average of $42.54. The stock has a market capitalization of $56.32 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 9.70 and a beta of 1.52. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB - Get Free Report) last posted 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. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company's revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 earnings per share. As a group, research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.84%. Schlumberger's payout ratio is currently 35.37%.

Insider Activity

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger 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 in the company, valued at approximately $1,245,799.89. This trade represents a 15.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dianne B. Ralston sold 43,161 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total value of $1,897,357.56. Following the sale, the insider now owns 235,024 shares of the company's stock, valued at $10,331,655.04. This trade represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 263,782 shares of company stock valued at $11,442,229. Insiders own 0.26% of the company's stock.

Hedge Funds Weigh In On Schlumberger

Several institutional investors have recently bought and sold shares of the company. Grove Bank & Trust grew its holdings in Schlumberger by 17.4% during the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company's stock worth $64,000 after acquiring an additional 224 shares during the period. CX Institutional grew its stake in shares of Schlumberger by 2.4% during the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company's stock worth $398,000 after purchasing an additional 244 shares during the period. GM Advisory Group LLC lifted its stake in shares of Schlumberger by 3.8% in the third quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company's stock valued at $281,000 after purchasing an additional 247 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in Schlumberger by 0.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company's stock worth $2,174,000 after buying an additional 262 shares during the period. Finally, Cordatus Wealth Management LLC grew its position in Schlumberger by 2.1% during the third quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company's stock worth $561,000 after buying an additional 281 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

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.