Schlumberger (NYSE:SLB) Hits New 1-Year Low at $40.35

Schlumberger Limited (NYSE:SLB)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $40.35 and last traded at $40.41, with a volume of 11073167 shares trading hands. The stock had previously closed at $40.62.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SLB shares. Piper Sandler lowered their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Barclays lowered their target price on Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Benchmark reiterated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. UBS Group reduced their price objective on Schlumberger from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Finally, Bank of America reduced their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Schlumberger Price Performance

The stock has a market capitalization of $57.38 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 0.87 and a beta of 1.52. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The business has a 50-day simple moving average of $45.59 and a two-hundred day simple moving average of $47.94.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. As a group, research analysts predict that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.72%. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the sale, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the sale, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,716 shares of company stock valued at $9,048,624. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Several large investors have recently added to or reduced their stakes in the company. BCM Advisors LLC raised its stake in Schlumberger by 1.1% during the 1st quarter. BCM Advisors LLC now owns 18,904 shares of the oil and gas company’s stock valued at $1,036,000 after purchasing an additional 204 shares during the period. Checchi Capital Advisers LLC increased its stake in shares of Schlumberger by 1.9% in the first quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock worth $592,000 after acquiring an additional 204 shares during the last quarter. Financial Advocates Investment Management increased its stake in shares of Schlumberger by 3.4% in the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 218 shares during the last quarter. Hilltop Holdings Inc. increased its stake in shares of Schlumberger by 2.1% in the fourth quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock worth $560,000 after acquiring an additional 219 shares during the last quarter. Finally, Chilton Capital Management LLC increased its stake in shares of Schlumberger by 0.8% in the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after acquiring an additional 219 shares during the last quarter. 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.