Insider Selling: Schlumberger Limited (NYSE:SLB) Director Sells 25,000 Shares of Stock

Schlumberger Limited (NYSE:SLB) Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the sale, the director now owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Schlumberger Stock Up 0.4 %

NYSE SLB traded up $0.18 during mid-day trading on Tuesday, reaching $43.76. The stock had a trading volume of 22,980,622 shares, compared to its average volume of 14,666,994. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The stock has a market cap of $61.80 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 3.61 and a beta of 1.52. The company has a fifty day moving average price of $40.84 and a 200 day moving average price of $42.81. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9,241,140 billion. During the same period in the previous year, the business earned $0.86 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts expect that Schlumberger Limited will post 3.29 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a $0.285 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.60%. Schlumberger’s payout ratio is 36.66%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SLB. Stifel Nicolaus dropped their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. TD Cowen raised their price target on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup raised their price target on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday. Piper Sandler assumed coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Finally, Jefferies Financial Group lowered their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Hedge Funds Weigh In On Schlumberger

Hedge funds have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky raised its position in Schlumberger by 25.9% in 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 buying an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB raised its stake in 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 valued at $3,223,000 after buying an additional 16,350 shares during the last quarter. Victory Capital Management Inc. raised its stake in Schlumberger by 8.7% during the 3rd 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 last quarter. Concurrent Investment Advisors LLC raised its stake in Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after buying an additional 14,376 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its stake in Schlumberger by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after buying an additional 11,813 shares during the last quarter. 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.