Schlumberger (NYSE:SLB) Stock Price Down 1.2% Following Insider Selling

Schlumberger Limited (NYSE:SLB - Get Free Report) traded down 1.2% during trading on Friday after an insider sold shares in the company. The stock traded as low as $39.85 and last traded at $40.52. 3,300,603 shares were traded during mid-day trading, a decline of 78% from the average session volume of 14,761,776 shares. The stock had previously closed at $41.02.

Specifically, insider Bejar Carmen Rando sold 5,524 shares of the firm's stock in a transaction on Friday, January 31st. The shares were 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 of the company's stock, valued at approximately $1,245,799.89. This trade represents a 15.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 210,502 shares of the company's stock, valued at approximately $8,723,202.88. This represents a 22.18 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SLB shares. Stifel Nicolaus decreased their price target on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a report on Monday, December 23rd. Sanford C. Bernstein raised shares of Schlumberger to a "strong-buy" rating in a report on Tuesday, November 12th. Citigroup raised their target price on shares of Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised their target price on shares of Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Finally, 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. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.81.

Schlumberger Trading Down 2.0 %

The company's 50-day moving average price is $40.49 and its 200-day moving average price is $42.54. The firm has a market cap of $56.32 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 9.70 and a beta of 1.52. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating 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 business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same quarter last year, the business earned $0.86 earnings per share. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a $0.285 dividend. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.84%. Schlumberger's dividend payout ratio (DPR) is 36.66%.

Institutional Trading of Schlumberger

Institutional investors have recently modified their holdings of the stock. Grove Bank & Trust lifted its stake in shares of Schlumberger by 17.4% in the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company's stock worth $64,000 after buying an additional 224 shares in the last quarter. CX Institutional lifted its stake in shares of Schlumberger by 2.4% in the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company's stock worth $398,000 after buying an additional 244 shares in the last quarter. 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 worth $281,000 after buying an additional 247 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Schlumberger by 0.5% in 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 in the last quarter. Finally, Cordatus Wealth Management LLC lifted its stake in shares of Schlumberger by 2.1% in 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 in the last quarter. Institutional investors and hedge funds 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.