Ugo Prechner Sells 7,000 Shares of Schlumberger Limited (NYSE:SLB) Stock

Schlumberger Limited (NYSE:SLB) VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the sale, the vice president now directly owns 11,240 shares of the company’s stock, valued at approximately $496,808. This represents a 38.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Schlumberger Stock Up 0.4 %

SLB stock traded up $0.18 during midday trading on Tuesday, hitting $43.76. The company’s stock had a trading volume of 22,980,622 shares, compared to its average volume of 14,666,994. The company has a market cap of $61.80 billion, a PE ratio of 14.07, a P/E/G ratio of 3.61 and a beta of 1.52. The firm’s 50-day moving average is $40.84 and its 200-day moving average is $42.81. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9,241,140 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS. On average, equities research analysts forecast that Schlumberger Limited will post 3.29 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.60%. Schlumberger’s dividend payout ratio is 36.66%.

Institutional Investors Weigh In On Schlumberger

A number of hedge funds have recently added to or reduced their stakes in SLB. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Schlumberger by 25.9% in the third 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 last quarter. Wilmington Savings Fund Society FSB raised its position in Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after acquiring an additional 16,350 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Schlumberger by 8.7% during the 3rd 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 last quarter. Concurrent Investment Advisors LLC grew its position in shares of Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after acquiring an additional 14,376 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in shares of Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after purchasing an additional 11,813 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on SLB. Citigroup upped their price target on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays dropped their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their price target on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday. Piper Sandler assumed coverage on Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Finally, Wells Fargo & Company decreased their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $55.81.

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.