Schlumberger Limited (NYSE:SLB) Insider Sells $1,104,430.80 in Stock

Schlumberger Limited (NYSE:SLB) insider Gavin Rennick sold 26,990 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the sale, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. This trade represents a 33.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Schlumberger Trading Up 1.8 %

Shares of SLB stock opened at $41.63 on Friday. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The stock has a market cap of $56.61 billion, a P/E ratio of 13.38, a P/E/G ratio of 10.10 and a beta of 1.51. The business has a fifty day simple moving average of $40.51 and a 200-day simple moving average of $41.82. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter last year, the business posted $0.86 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared 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 of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.74%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SLB. Citigroup boosted their price target on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Wells Fargo & Company cut their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. boosted their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Barclays lowered their price objective on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SLB. International Assets Investment Management LLC increased its position in shares of Schlumberger by 4,640.0% in the third quarter. International Assets Investment Management LLC now owns 202,635 shares of the oil and gas company’s stock valued at $8,501,000 after buying an additional 198,360 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Schlumberger by 6.7% during the third quarter. Assenagon Asset Management S.A. now owns 47,548 shares of the oil and gas company’s stock valued at $1,995,000 after acquiring an additional 2,986 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Schlumberger by 27.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 87,301 shares of the oil and gas company’s stock valued at $3,692,000 after acquiring an additional 18,797 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Schlumberger by 36.6% during the third quarter. GHP Investment Advisors Inc. now owns 1,411 shares of the oil and gas company’s stock valued at $59,000 after acquiring an additional 378 shares during the last quarter. Finally, Modera Wealth Management LLC acquired a new stake in shares of Schlumberger during the third quarter valued at $235,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.