Schlumberger (NYSE:SLB) Trading Down 0.2% – Should You Sell?

Schlumberger Limited (NYSE:SLB)’s stock price dropped 0.2% during trading on Monday . The stock traded as low as $42.00 and last traded at $42.15. Approximately 3,416,803 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 15,073,184 shares. The stock had previously closed at $42.25.

Analyst Upgrades and Downgrades

SLB has been the topic of several research analyst reports. Susquehanna lowered their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Barclays reduced their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Wells Fargo & Company cut their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Piper Sandler began coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Finally, Citigroup lifted their target price on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Six research 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Stock Performance

The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $57.25 billion, a P/E ratio of 13.14, a P/E/G ratio of 9.98 and a beta of 1.52. The company’s fifty day moving average is $40.69 and its 200 day moving average is $42.66.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.86 earnings per share. As a group, equities analysts anticipate that Schlumberger Limited will post 3.34 earnings per share for the current year.

Schlumberger Increases Dividend

The company 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. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.79%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is currently 36.66%.

Insider Buying and Selling

In other news, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total value of $5,427,346.73. Following the transaction, the executive vice president now owns 184,626 shares in the company, valued at $8,140,160.34. This represents a 40.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the transaction, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 198,258 shares of company stock valued at $8,732,604 over the last quarter. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

A number of institutional investors and hedge funds have recently modified their holdings of SLB. Teachers Retirement System of The State of Kentucky increased its holdings in Schlumberger by 25.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after purchasing an additional 156,698 shares during the period. Wilmington Savings Fund Society FSB grew its position in shares of Schlumberger by 27.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after buying an additional 16,350 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after buying an additional 65,318 shares during the period. Concurrent Investment Advisors LLC raised its holdings in shares of Schlumberger by 269.1% in the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after acquiring an additional 14,376 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in Schlumberger by 26.0% in the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock worth $12,880,000 after acquiring an additional 63,413 shares during the period. Hedge funds and other 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.