Schlumberger Sees Unusually Large Options Volume (NYSE:SLB)

Schlumberger Limited (NYSE:SLB - Get Free Report) was the target of some unusual options trading activity on Tuesday. Investors purchased 38,335 call options on the stock. This represents an increase of approximately 57% compared to the average volume of 24,393 call options.

Analyst Ratings Changes

Several equities analysts have weighed in on SLB shares. Susquehanna decreased their target price on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Monday, April 28th. Jefferies Financial Group decreased their target price on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a report on Thursday, March 27th. Piper Sandler decreased their target price on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Wells Fargo & Company decreased their target price on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a report on Thursday, June 5th. Finally, Stifel Nicolaus decreased their target price on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Schlumberger currently has an average rating of "Moderate Buy" and an average target price of $52.38.

Schlumberger Stock Up 0.5%

SLB traded up $0.16 during trading hours on Wednesday, hitting $35.68. 14,439,630 shares of the company's stock were exchanged, compared to its average volume of 13,521,127. Schlumberger has a 12-month low of $31.11 and a 12-month high of $50.94. The firm has a 50 day moving average of $34.22 and a 200 day moving average of $38.49. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The firm has a market cap of $48.53 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 10.10 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. During the same period in the prior year, the company posted $0.75 earnings per share. The company's revenue for the quarter was down 2.5% on a year-over-year basis. Analysts predict that Schlumberger will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's dividend payout ratio is presently 38.64%.

Insider Activity

In related news, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the transaction, the insider now directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director now owns 23,525 shares in the company, valued at $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

Institutional Investors Weigh In On Schlumberger

A number of large investors have recently modified their holdings of the company. First Command Advisory Services Inc. boosted its holdings in shares of Schlumberger by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after buying an additional 477 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger in the 4th quarter valued at $32,000. Atlas Capital Advisors Inc. acquired a new position in shares of Schlumberger in the 1st quarter valued at $33,000. Golden State Wealth Management LLC acquired a new position in shares of Schlumberger in the 4th quarter valued at $34,000. Finally, Alpine Bank Wealth Management acquired a new position in shares of Schlumberger in the 1st quarter valued at $34,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.