Vijay Kasibhatla Sells 25,000 Shares of Schlumberger Limited (NYSE:SLB) Stock

Schlumberger Limited (NYSE:SLB) Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction 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 sale, the director now owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Schlumberger Stock Performance

NYSE SLB opened at $41.62 on Thursday. The company has a fifty day moving average price of $40.83 and a 200-day moving average price of $42.80. The firm has a market cap of $58.78 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 3.61 and a beta of 1.52. 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 Limited has a 1 year low of $36.52 and a 1 year high of $55.69.

Schlumberger (NYSE:SLB) last announced its earnings results 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. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9,241,140 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 EPS. As a group, equities research analysts predict that Schlumberger Limited will post 3.29 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. 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. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is presently 35.37%.

Hedge Funds Weigh In On Schlumberger

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Schlumberger by 0.6% in the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after acquiring an additional 528,279 shares during the last quarter. Geode Capital Management LLC lifted its stake in Schlumberger by 0.8% in the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after purchasing an additional 239,966 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Schlumberger by 12,289.6% during the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after purchasing an additional 12,938,082 shares during the period. Legal & General Group Plc increased its position in Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after buying an additional 1,560,684 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Schlumberger by 20.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after buying an additional 1,916,851 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SLB. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Susquehanna dropped their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Stifel Nicolaus reduced their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. TD Cowen boosted their target price on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a report on Tuesday. 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’s stock. Based on data from MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $55.81.

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.