Schlumberger (NYSE:SLB) Trading Down 1.2% After Insider Selling

Schlumberger Limited (NYSE:SLB - Get Free Report) shares dropped 1.2% during trading on Friday after an insider sold shares in the company. The company traded as low as $39.85 and last traded at $40.52. Approximately 3,300,603 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 14,761,776 shares. The stock had previously closed at $41.02.

Specifically, insider Bejar Carmen Rando sold 5,524 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the sale, the insider now directly owns 30,829 shares of the company's stock, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the sale, the executive vice president now owns 210,502 shares of the company's stock, valued at $8,723,202.88. The trade was a 22.18 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several research firms have recently weighed in on SLB. Jefferies Financial Group decreased their price target on shares of Schlumberger from $64.00 to $61.00 and set a "buy" rating for the company in a research note on Friday, January 3rd. Evercore ISI reaffirmed an "in-line" rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Wells Fargo & Company dropped their price target on Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Tuesday, December 17th. Royal Bank of Canada restated an "outperform" rating and issued a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. Finally, Atb Cap Markets cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.81.

Schlumberger Stock Down 0.3 %

The stock has a market capitalization of $56.26 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 9.55 and a beta of 1.51. 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 company's 50-day moving average is $40.49 and its 200 day moving average is $42.49.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to analysts' expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company posted $0.86 earnings per share. As a group, analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's payout ratio is presently 35.37%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SLB. Teachers Retirement System of The State of Kentucky increased its holdings in Schlumberger by 25.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company's stock worth $31,961,000 after buying an additional 156,698 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in shares of Schlumberger by 27.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock valued at $3,223,000 after acquiring an additional 16,350 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Schlumberger by 8.7% in the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company's stock worth $34,305,000 after acquiring an additional 65,318 shares during the period. Concurrent Investment Advisors LLC raised its holdings in shares of Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company's stock worth $827,000 after purchasing an additional 14,376 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in Schlumberger by 26.0% during the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company's stock valued at $12,880,000 after purchasing an additional 63,413 shares during the period. 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.