Insider Selling: Schlumberger Limited (NYSE:SLB) Insider Sells 38,083 Shares of Stock

Schlumberger Limited (NYSE:SLB - Get Free Report) insider Gavin Rennick sold 38,083 shares of the business's stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total value of $1,838,647.24. Following the completion of the sale, the insider now directly owns 45,851 shares in the company, valued at $2,213,686.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Schlumberger Stock Down 3.7 %

Schlumberger stock traded down $1.81 during mid-day trading on Wednesday, reaching $46.48. 11,797,700 shares of the company's stock were exchanged, compared to its average volume of 10,723,619. The company has a market cap of $66.44 billion, a P/E ratio of 16.04, a P/E/G ratio of 0.93 and a beta of 1.64. Schlumberger Limited has a twelve month low of $42.73 and a twelve month high of $62.12. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $51.31 and a 200-day moving average of $50.93.

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

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This is an increase from Schlumberger's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger's dividend payout ratio (DPR) is presently 36.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SLB shares. Wells Fargo & Company lowered Schlumberger from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $68.00 to $53.00 in a research note on Monday, April 29th. Bank of America dropped their price objective on shares of Schlumberger from $63.00 to $62.00 and set a "buy" rating for the company in a report on Monday, April 22nd. Stifel Nicolaus reaffirmed a "buy" rating and issued a $64.00 price target on shares of Schlumberger in a report on Monday, April 22nd. The Goldman Sachs Group reissued a "buy" rating on shares of Schlumberger in a research report on Monday, April 1st. Finally, TD Cowen reduced their price objective on shares of Schlumberger from $64.00 to $63.00 and set a "buy" rating on the stock in a research report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $68.72.

Institutional Trading of Schlumberger

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CI Investments Inc. boosted its holdings in Schlumberger by 4.9% during the third quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company's stock worth $241,000 after buying an additional 192 shares in the last quarter. BCM Advisors LLC grew its holdings in Schlumberger by 1.1% in the first quarter. BCM Advisors LLC now owns 18,904 shares of the oil and gas company's stock valued at $1,036,000 after purchasing an additional 204 shares during the period. Checchi Capital Advisers LLC grew its stake in Schlumberger by 1.9% during the first quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company's stock worth $592,000 after buying an additional 204 shares during the period. Atria Wealth Solutions Inc. grew its stake in Schlumberger by 0.6% during the third quarter. Atria Wealth Solutions Inc. now owns 34,414 shares of the oil and gas company's stock worth $2,007,000 after buying an additional 206 shares during the period. Finally, Hilltop Holdings Inc. boosted its stake in shares of Schlumberger by 2.1% in the fourth quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company's stock valued at $560,000 after purchasing an additional 219 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

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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