Insider Selling: Schlumberger Limited (NYSE:SLB) EVP Sells 123,097 Shares of Stock

Schlumberger Limited (NYSE:SLB) EVP Mogharbel Khaled Al sold 123,097 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the sale, the executive vice president now directly owns 184,626 shares of the company’s stock, valued at $8,140,160.34. The trade was a 40.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Schlumberger Price Performance

Shares of NYSE:SLB traded up $0.18 during trading on Tuesday, reaching $43.76. 22,980,622 shares of the company’s stock traded hands, compared to its average volume of 14,666,994. 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 Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The company has a 50-day simple moving average of $40.84 and a 200-day simple moving average of $42.81. The firm has a market cap of $61.80 billion, a PE ratio of 14.07, a P/E/G ratio of 3.61 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9,241,140 billion. During the same period last year, the company earned $0.86 earnings per share. Schlumberger’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, analysts predict that Schlumberger Limited will post 3.29 earnings per share for the current year.

Schlumberger Increases Dividend

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

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a research report on Tuesday. Evercore ISI reissued an “in-line” rating and set a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. BMO Capital Markets cut their price target on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Piper Sandler began coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Institutional Trading of Schlumberger

Several institutional investors have recently bought and sold shares of the business. ORG Partners LLC boosted its stake in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in Schlumberger during the third quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new position in Schlumberger during the third quarter worth about $37,000. DiNuzzo Private Wealth Inc. boosted its position in Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new position in Schlumberger during the third quarter worth about $47,000. 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.