Schlumberger (NYSE:SLB) Trading 4.9% Higher - Here's Why

Schlumberger Limited (NYSE:SLB - Get Free Report)'s stock price traded up 4.9% during mid-day trading on Wednesday . The company traded as high as $42.56 and last traded at $42.54. 6,327,224 shares traded hands during trading, a decline of 43% from the average session volume of 11,162,116 shares. The stock had previously closed at $40.55.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SLB. Evercore ISI decreased their price target on Schlumberger from $74.00 to $62.00 and set an "outperform" rating for the company in a research note on Monday, October 21st. Dbs Bank began coverage on Schlumberger in a research note on Wednesday, September 18th. They issued a "buy" rating and a $64.50 price target for the company. Stifel Nicolaus restated a "buy" rating and issued a $60.00 price target (down from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. UBS Group decreased their price target on Schlumberger from $63.00 to $57.00 and set a "buy" rating for the company in a research note on Wednesday, September 18th. Finally, TD Cowen cut their price objective on Schlumberger from $68.00 to $65.00 and set a "buy" rating for the company in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $60.97.

Schlumberger Stock Performance

The company has a 50 day moving average price of $42.25 and a 200-day moving average price of $44.96. 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 company has a market cap of $61.82 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52.

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

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.51%. Schlumberger's dividend payout ratio is currently 35.37%.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the business's stock in a transaction 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 sale, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Manchester Capital Management LLC lifted its holdings in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company's stock worth $31,000 after buying an additional 426 shares during the period. Bruce G. Allen Investments LLC lifted its holdings in Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company's stock worth $28,000 after buying an additional 392 shares during the period. ORG Partners LLC lifted its holdings in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company's stock worth $25,000 after buying an additional 484 shares during the period. Unique Wealth Strategies LLC acquired a new position in shares of Schlumberger in the 2nd quarter valued at about $30,000. Finally, Riverview Trust Co lifted its stake in shares of Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company's stock valued at $31,000 after purchasing an additional 308 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.

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