Schlumberger Limited. (NYSE:SLB) Short Interest Update

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.



Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Schlumberger by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 16,487,841 shares of the oil and gas company’s stock valued at $593,754,000 after purchasing an additional 1,125,484 shares during the last quarter. Webster Bank N. A. increased its position in shares of Schlumberger by 2.3% during the 1st quarter. Webster Bank N. A. now owns 27,719 shares of the oil and gas company’s stock valued at $1,207,000 after purchasing an additional 613 shares during the last quarter. Graves Light Private Wealth Management Inc. purchased a new stake in shares of Schlumberger during the 1st quarter valued at $240,000. Ferguson Wellman Capital Management Inc. increased its position in shares of Schlumberger by 6.6% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 308,238 shares of the oil and gas company’s stock valued at $13,430,000 after purchasing an additional 18,990 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. increased its position in shares of Schlumberger by 4.5% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 8,875 shares of the oil and gas company’s stock valued at $387,000 after purchasing an additional 385 shares during the last quarter. 77.22% of the stock is owned by hedge funds and other institutional investors.

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%.

About Schlumberger

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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