Schlumberger Limited (NYSE:SLB) Director Sells $335,520.00 in Stock

Schlumberger Limited (NYSE:SLB) Director La Chevardiere Patrick De sold 8,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $41.94, for a total transaction of $335,520.00. Following the completion of the sale, the director now owns 22,811 shares of the company’s stock, valued at approximately $956,693.34. This represents a 25.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Schlumberger Price Performance

Schlumberger stock opened at $36.83 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The firm has a market capitalization of $52.01 billion, a P/E ratio of 11.84, a PEG ratio of 1.42 and a beta of 1.51. The business has a fifty day moving average price of $42.06 and a 200-day moving average price of $43.75.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts forecast that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.99%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SLB. State Street Corp boosted its stake in Schlumberger by 0.6% during the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after buying an additional 528,279 shares during the period. Geode Capital Management LLC boosted its position in shares of Schlumberger by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after acquiring an additional 239,966 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Schlumberger by 14.0% during the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after purchasing an additional 1,560,684 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Schlumberger by 20.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after purchasing an additional 1,916,851 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in Schlumberger by 1.2% in the second quarter. Van ECK Associates Corp now owns 8,583,818 shares of the oil and gas company’s stock valued at $404,985,000 after purchasing an additional 100,477 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on SLB shares. UBS Group decreased their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Morgan Stanley dropped their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research note on Thursday, October 3rd. Bank of America lowered their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Atb Cap Markets lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $58.85.

About Schlumberger

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.