Schlumberger (NYSE:SLB) Trading Down 1.1% - Time to Sell?

Schlumberger Limited (NYSE:SLB - Get Free Report)'s stock price fell 1.1% during trading on Tuesday . The stock 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

Several brokerages have recently weighed in on SLB. Stifel Nicolaus decreased their target price on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, December 23rd. Royal Bank of Canada restated an "outperform" rating and issued a $57.00 price target on shares of Schlumberger in a report on Tuesday, January 21st. Jefferies Financial Group dropped their price objective on shares of Schlumberger from $64.00 to $61.00 and set a "buy" rating on the stock in a research note on Friday, January 3rd. Piper Sandler started coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a "neutral" rating and a $47.00 target price for the company. Finally, Griffin Securities downgraded shares of Schlumberger from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $55.81.

Schlumberger Stock Down 1.8 %

The stock's fifty day simple moving average is $40.58 and its two-hundred day simple moving average is $42.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company has a market capitalization of $56.45 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 9.70 and a beta of 1.52.

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

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.83%. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's payout ratio is currently 35.37%.

Insider Buying and Selling

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the transaction, the vice president now owns 11,240 shares in the company, valued at approximately $496,808. This represents a 38.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the sale, the director now owns 49,595 shares in the company, valued at $2,179,204.30. The trade was a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 258,258 shares of company stock worth $11,219,004 in the last three months. 0.26% of the stock is owned by insiders.

Institutional Trading of Schlumberger

Several large investors have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky grew its stake in shares of Schlumberger by 25.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company's stock worth $31,961,000 after purchasing an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock worth $3,223,000 after purchasing an additional 16,350 shares during the period. Victory Capital Management Inc. grew its position in Schlumberger by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company's stock valued at $34,305,000 after buying an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company's stock valued at $827,000 after buying an additional 14,376 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in shares of Schlumberger by 26.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company's stock worth $12,880,000 after buying an additional 63,413 shares in the last quarter. 81.99% of the stock is currently 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.