Schlumberger (NYSE:SLB) Trading 0.3% Higher - What's Next?

Schlumberger Limited (NYSE:SLB - Get Free Report)'s stock price rose 0.3% on Friday . The company traded as high as $43.51 and last traded at $43.39. Approximately 1,869,777 shares traded hands during trading, a decline of 83% from the average daily volume of 11,226,744 shares. The stock had previously closed at $43.24.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SLB shares. Citigroup dropped their price objective on shares of Schlumberger from $60.00 to $54.00 and set a "buy" rating for the company in a research note on Tuesday, October 22nd. Wells Fargo & Company reduced their price objective on Schlumberger from $53.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Wednesday, September 25th. Piper Sandler reduced their price target on shares of Schlumberger from $71.00 to $66.00 and set an "overweight" rating on the stock in a research report on Monday, July 15th. Morgan Stanley cut their price objective on Schlumberger from $65.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, September 16th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $69.00 target price on shares of Schlumberger in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Schlumberger currently has an average rating of "Moderate Buy" and a consensus target price of $60.97.

Schlumberger Price Performance

The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a 50-day simple moving average of $42.25 and a 200 day simple moving average of $44.96. The stock has a market capitalization of $60.98 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 1.54 and a beta of 1.52.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.01. The firm had revenue of $9.16 billion during the quarter, compared to analysts' expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. Schlumberger's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. On average, equities research analysts forecast that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.55%. Schlumberger's payout ratio is 35.37%.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the firm's stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

Institutional Trading of Schlumberger

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital World Investors increased its stake in Schlumberger by 72.3% during the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company's stock worth $4,875,402,000 after purchasing an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company's stock valued at $4,712,897,000 after acquiring an additional 10,606,191 shares in the last quarter. Boston Partners boosted its stake in Schlumberger by 35.8% in the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company's stock worth $635,883,000 after purchasing an additional 3,069,395 shares during the period. Ceredex Value Advisors LLC acquired a new stake in shares of Schlumberger in the 2nd quarter valued at about $92,944,000. Finally, 1832 Asset Management L.P. acquired a new position in shares of Schlumberger during the second quarter worth about $91,364,000. 81.99% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.