Insider Selling: Schlumberger Limited (NYSE:SLB) Director Sells $492,900.00 in Stock

Schlumberger Limited (NYSE:SLB) Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Schlumberger Price Performance

NYSE SLB opened at $48.03 on Thursday. Schlumberger Limited has a 52 week low of $42.61 and a 52 week high of $62.12. The firm has a market capitalization of $68.65 billion, a P/E ratio of 15.96, a PEG ratio of 1.06 and a beta of 1.55. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $46.32 and a 200-day moving average price of $48.99.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities research analysts anticipate that Schlumberger Limited will post 3.48 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s payout ratio is currently 36.54%.

Analyst Ratings Changes

A number of analysts have recently weighed in on SLB shares. Piper Sandler reduced their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. BMO Capital Markets dropped their price target on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Bank of America dropped their price target on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Finally, HSBC reiterated a “buy” rating and issued a $71.00 price target on shares of Schlumberger in a research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $67.56.

Institutional Investors Weigh In On Schlumberger

Several hedge funds and other institutional investors have recently made changes to their positions in SLB. Turtle Creek Wealth Advisors LLC purchased a new stake in Schlumberger in the 4th quarter worth approximately $26,000. Register Financial Advisors LLC purchased a new stake in Schlumberger in the 1st quarter worth approximately $27,000. Bruce G. Allen Investments LLC increased its holdings in Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares in the last quarter. Unique Wealth Strategies LLC purchased a new stake in Schlumberger in the 2nd quarter worth approximately $30,000. Finally, Manchester Capital Management LLC increased its holdings in Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.