Schlumberger (NYSE:SLB) Trading Down 1.8%

Schlumberger Limited (NYSE:SLB - Get Free Report) shares dropped 1.8% during trading on Friday . The stock traded as low as $49.02 and last traded at $50.00. Approximately 5,416,312 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 11,118,729 shares. The stock had previously closed at $50.94.

Wall Street Analysts Forecast Growth

SLB has been the subject of several recent analyst reports. Susquehanna reissued a "positive" rating and issued a $77.00 price target on shares of Schlumberger in a report on Monday, April 8th. Barclays lowered their price objective on Schlumberger from $74.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, April 4th. Benchmark reiterated a "buy" rating and issued a $68.00 target price on shares of Schlumberger in a report on Wednesday, April 3rd. HSBC reiterated a "buy" rating and issued a $71.00 target price on shares of Schlumberger in a report on Thursday, April 4th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Schlumberger in a research note on Monday, April 1st. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $70.31.

Schlumberger Stock Down 2.2 %

The firm has a market capitalization of $71.14 billion, a P/E ratio of 17.05, a PEG ratio of 0.97 and a beta of 1.60. The firm's 50-day moving average is $51.56 and its 200 day moving average is $52.48. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.32.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.75. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The company's revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 EPS. As a group, equities research analysts predict that Schlumberger Limited will post 3.52 EPS for the current fiscal 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 issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.21%. This is an increase from Schlumberger's previous quarterly dividend of $0.25. Schlumberger's payout ratio is currently 37.67%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the company's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the firm's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the firm's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the sale, the chief financial officer now owns 242,932 shares of the company's stock, valued at $11,816,212.48. The disclosure for this sale can be found here. Insiders sold 172,191 shares of company stock valued at $8,636,322 in the last quarter. Company insiders own 0.26% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLB. BluePath Capital Management LLC bought a new stake in shares of Schlumberger in the third quarter valued at approximately $25,000. Acadian Asset Management LLC purchased a new position in Schlumberger during the first quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in Schlumberger during the fourth quarter valued at approximately $26,000. Register Financial Advisors LLC purchased a new position in Schlumberger during the first quarter valued at approximately $27,000. Finally, Coppell Advisory Solutions LLC purchased a new position in Schlumberger during the second quarter valued at approximately $27,000. 81.99% of the stock is currently 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.