Schlumberger (NYSE:SLB) Trading 1.8% Higher - Here's Why

Schlumberger Limited (NYSE:SLB - Get Free Report)'s stock price traded up 1.8% on Monday . The company traded as high as $44.12 and last traded at $43.97. 1,973,571 shares traded hands during trading, a decline of 82% from the average session volume of 11,238,098 shares. The stock had previously closed at $43.18.

Analysts Set New Price Targets

Several analysts have recently commented on SLB shares. Stifel Nicolaus restated a "buy" rating and issued a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Bank of America dropped their target price on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a report on Monday, October 14th. Benchmark restated a "buy" rating and set a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Wells Fargo & Company decreased their price target on shares of Schlumberger from $53.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Wednesday, September 25th. Finally, Citigroup decreased their target price on shares of Schlumberger from $60.00 to $54.00 and set a "buy" rating on the stock in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Schlumberger has an average rating of "Moderate Buy" and an average target price of $60.97.

Schlumberger Stock Up 2.7 %

The company has a market cap of $62.63 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.52 and a beta of 1.52. 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 business has a fifty day moving average price of $42.21 and a two-hundred day moving average price of $44.84.

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

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.48%. Schlumberger's dividend payout ratio (DPR) is currently 35.37%.

Insider Activity

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SLB. Bruce G. Allen Investments LLC raised its stake in Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 392 shares in the last quarter. ORG Partners LLC lifted its position in shares of Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 484 shares during the period. Unique Wealth Strategies LLC acquired a new position in shares of Schlumberger during the 2nd quarter valued at $30,000. Riverview Trust Co lifted its position in shares of Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company's stock valued at $31,000 after acquiring an additional 308 shares during the period. Finally, Prospera Private Wealth LLC acquired a new position in Schlumberger during the third quarter worth $29,000. 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.

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