Schlumberger Limited. (NYSE:SLB) gapped down prior to trading on Thursday . The stock had previously closed at $30.91, but opened at $32.34. Schlumberger shares last traded at $31.59, with a volume of 1,140,253 shares changing hands.
A number of analysts have recently issued reports on SLB shares. Royal Bank of Canada lowered their price objective on shares of Schlumberger to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th. Tudor Pickering downgraded shares of Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 price objective on the stock. in a report on Monday, April 22nd. BMO Capital Markets set a $44.00 price objective on shares of Schlumberger and gave the company a “hold” rating in a report on Monday, April 22nd. Bank of America reiterated a “buy” rating and issued a $51.00 price objective (down from $60.00) on shares of Schlumberger in a report on Tuesday, June 25th. Finally, Morgan Stanley set a $51.00 price objective on shares of Schlumberger and gave the company a “hold” rating in a report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $52.17.
The firm has a market capitalization of $47.40 billion, a price-to-earnings ratio of 19.54, a P/E/G ratio of 2.15 and a beta of 1.44. The stock’s fifty day moving average is $38.34 and its two-hundred day moving average is $40.85. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.47.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 6.32%. Schlumberger’s payout ratio is 123.46%.
In related news, insider Stephanie Cox sold 24,057 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $40.59, for a total transaction of $976,473.63. Following the transaction, the insider now directly owns 46,354 shares in the company, valued at $1,881,508.86. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Patrick Schorn sold 12,151 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $38.93, for a total transaction of $473,038.43. Following the transaction, the executive vice president now owns 130,000 shares in the company, valued at $5,060,900. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in Schlumberger by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 16,487,841 shares of the oil and gas company’s stock worth $593,754,000 after purchasing an additional 1,125,484 shares in the last quarter. Capital Investment Advisors LLC increased its position in shares of Schlumberger by 9.1% during the first quarter. Capital Investment Advisors LLC now owns 14,429 shares of the oil and gas company’s stock worth $629,000 after acquiring an additional 1,201 shares during the period. Buckley Wealth Management LLC increased its position in shares of Schlumberger by 25.5% during the first quarter. Buckley Wealth Management LLC now owns 10,101 shares of the oil and gas company’s stock worth $440,000 after acquiring an additional 2,051 shares during the period. Lincoln Capital Corp increased its position in shares of Schlumberger by 4.7% during the first quarter. Lincoln Capital Corp now owns 33,749 shares of the oil and gas company’s stock worth $1,470,000 after acquiring an additional 1,508 shares during the period. Finally, Cardinal Capital Management increased its position in shares of Schlumberger by 672.7% during the first quarter. Cardinal Capital Management now owns 50,589 shares of the oil and gas company’s stock worth $2,204,000 after acquiring an additional 44,042 shares during the period. Institutional investors and hedge funds own 77.22% of the company’s stock.
Schlumberger Company Profile (NYSE:SLB)
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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