Short Interest in Schlumberger Limited. (NYSE:SLB) Drops By 7.4%

Schlumberger Limited. (NYSE:SLB) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 24,469,500 shares, a decrease of 7.4% from the July 31st total of 26,419,800 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average trading volume of 10,300,000 shares, the short-interest ratio is currently 2.4 days.

A number of equities analysts recently issued reports on SLB shares. Raymond James reiterated a “hold” rating on shares of Schlumberger in a research report on Friday, June 21st. Piper Jaffray Companies set a $40.00 price target on shares of Schlumberger and gave the company a “buy” rating in a research report on Monday, July 1st. Bank of America decreased their price target on shares of Schlumberger from $51.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. Gabelli initiated coverage on shares of Schlumberger in a research report on Thursday, June 27th. They issued a “buy” rating and a $55.00 price target for the company. Finally, Morgan Stanley upgraded shares of Schlumberger from an “equal weight” rating to an “overweight” rating and set a $51.00 price target for the company in a research report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $51.05.

NYSE SLB traded up $0.43 on Friday, hitting $37.33. 8,141,783 shares of the company were exchanged, compared to its average volume of 11,330,121. The company has a market cap of $51.03 billion, a PE ratio of 23.04, a PEG ratio of 2.60 and a beta of 1.49. Schlumberger has a 12 month low of $31.03 and a 12 month high of $63.65. The stock has a fifty day moving average of $34.88 and a 200-day moving average of $39.40. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The firm had revenue of $8.27 billion for the quarter, compared to analyst estimates of $8.11 billion. During the same period last year, the firm earned $0.43 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year. On average, analysts expect that Schlumberger will post 1.5 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 4th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date of this dividend is Tuesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is 123.46%.

In other news, EVP Patrick Schorn sold 12,151 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $38.93, for a total transaction of $473,038.43. Following the completion of the sale, the executive vice president now owns 130,000 shares of the company’s stock, valued at approximately $5,060,900. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephanie Cox sold 24,057 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $40.59, for a total transaction of $976,473.63. Following the transaction, the insider now owns 46,354 shares of the company’s stock, valued at $1,881,508.86. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in SLB. Geode Capital Management LLC raised its holdings in shares of Schlumberger by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 16,487,841 shares of the oil and gas company’s stock valued at $593,754,000 after purchasing an additional 1,125,484 shares during the last quarter. SOL Capital Management CO raised its holdings in shares of Schlumberger by 15.5% in the first quarter. SOL Capital Management CO now owns 10,977 shares of the oil and gas company’s stock valued at $478,000 after purchasing an additional 1,470 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Schlumberger by 31.9% during the first quarter. Janus Henderson Group PLC now owns 1,632,354 shares of the oil and gas company’s stock worth $71,127,000 after buying an additional 394,534 shares during the last quarter. Perennial Advisors LLC increased its holdings in Schlumberger by 555.1% during the first quarter. Perennial Advisors LLC now owns 8,536 shares of the oil and gas company’s stock worth $372,000 after buying an additional 7,233 shares during the last quarter. Finally, Tocqueville Asset Management L.P. increased its holdings in Schlumberger by 72.1% during the first quarter. Tocqueville Asset Management L.P. now owns 1,304,882 shares of the oil and gas company’s stock worth $56,854,000 after buying an additional 546,634 shares during the last quarter. 76.94% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Company Profile

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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