Schlumberger Limited (NYSE:SLB) CTO Sells $3,044,964.70 in Stock

Schlumberger Limited (NYSE:SLB - Get Free Report) CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the completion of the sale, the chief technology officer now owns 33,421 shares in the company, valued at approximately $1,612,897.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Schlumberger Trading Down 0.3 %

SLB stock traded down $0.14 during mid-day trading on Tuesday, reaching $48.61. 8,404,579 shares of the stock traded hands, compared to its average volume of 10,924,060. Schlumberger Limited has a 52-week low of $42.73 and a 52-week high of $62.12. The stock's fifty day moving average is $51.58 and its 200-day moving average is $51.27. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The company has a market cap of $69.48 billion, a P/E ratio of 16.11, a P/E/G ratio of 0.93 and a beta of 1.64.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 EPS. As a group, sell-side analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.26%. This is a boost from Schlumberger's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger's payout ratio is currently 36.54%.

Institutional Investors Weigh In On Schlumberger

A number of hedge funds have recently added to or reduced their stakes in SLB. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Schlumberger in the 4th quarter valued at about $26,000. Register Financial Advisors LLC bought a new position in shares of Schlumberger during the first quarter worth $27,000. Manchester Capital Management LLC grew its holdings in shares of Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company's stock valued at $31,000 after buying an additional 426 shares during the period. Transcendent Capital Group LLC bought a new stake in shares of Schlumberger in the fourth quarter worth about $32,000. Finally, Janiczek Wealth Management LLC grew its position in shares of Schlumberger by 1,180.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company's stock valued at $34,000 after purchasing an additional 602 shares during the period. Institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SLB shares. Barclays lowered their price objective on shares of Schlumberger from $74.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, April 4th. Morgan Stanley restated an "overweight" rating and set a $65.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Benchmark reaffirmed a "buy" rating and set a $68.00 price target on shares of Schlumberger in a report on Monday, April 22nd. Susquehanna reaffirmed a "positive" rating and set a $77.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. Finally, Wells Fargo & Company lowered shares of Schlumberger from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $68.00 to $53.00 in a research report on Monday, April 29th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.72.

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.

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