Schlumberger Limited. (NYSE:SLB) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totalling 26,419,800 shares, a growth of 11.1% from the June 30th total of 23,790,900 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily volume of 10,130,000 shares, the days-to-cover ratio is currently 2.6 days.
A number of brokerages recently commented on SLB. Tudor Pickering lowered Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 price target for the company. in a research note on Monday, April 22nd. BMO Capital Markets set a $44.00 price target on Schlumberger and gave the company a “hold” rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. dropped their price target on Schlumberger from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Raymond James reissued a “hold” rating on shares of Schlumberger in a research note on Friday, June 21st. Finally, Royal Bank of Canada dropped their price target on Schlumberger to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $52.17.
In related news, EVP Patrick Schorn sold 12,151 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $38.93, for a total transaction of $473,038.43. Following the completion of the sale, the executive vice president now owns 130,000 shares in the company, valued at $5,060,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephanie Cox sold 24,057 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $40.59, for a total value of $976,473.63. Following the transaction, the insider now directly owns 46,354 shares of the company’s stock, valued at $1,881,508.86. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.
Shares of NYSE:SLB traded down $1.98 during trading on Wednesday, hitting $32.65. The company had a trading volume of 8,843,397 shares, compared to its average volume of 10,181,237. The company has a market cap of $47.76 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 2.16 and a beta of 1.44. Schlumberger has a one year low of $32.20 and a one year high of $65.61. The stock has a fifty day moving average price of $38.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.39.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The business had revenue of $8.27 billion during the quarter, compared to analyst estimates of $8.11 billion. During the same period last year, the company earned $0.43 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. As a group, research analysts anticipate that Schlumberger will post 1.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date of this dividend is Tuesday, September 3rd. Schlumberger’s dividend payout ratio is currently 123.46%.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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