Schlumberger Limited (NYSE:SLB) EVP Abdellah Merad Sells 70,000 Shares of Stock

Schlumberger Limited (NYSE:SLBGet Rating) EVP Abdellah Merad sold 70,000 shares of the business’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $57.20, for a total transaction of $4,004,000.00. Following the sale, the executive vice president now owns 204,357 shares in the company, valued at $11,689,220.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Schlumberger Stock Performance

Shares of SLB opened at $55.47 on Wednesday. The company’s 50 day moving average price is $52.95 and its 200 day moving average price is $44.91. Schlumberger Limited has a 52 week low of $30.65 and a 52 week high of $62.78. The company has a market capitalization of $78.66 billion, a PE ratio of 23.11, a PEG ratio of 0.50 and a beta of 1.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.92 and a current ratio of 1.25.

Schlumberger (NYSE:SLBGet Rating) last announced its quarterly earnings data on Friday, January 20th. The oil and gas company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Schlumberger had a net margin of 12.25% and a return on equity of 18.51%. The firm had revenue of $7.88 billion for the quarter, compared to the consensus estimate of $7.80 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. The firm’s revenue was up 26.6% on a year-over-year basis. Research analysts expect that Schlumberger Limited will post 3.03 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Investors of record on Wednesday, February 8th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, February 7th. This is an increase from Schlumberger’s previous quarterly dividend of $0.18. This represents a $1.00 dividend on an annualized basis and a yield of 1.80%. Schlumberger’s payout ratio is presently 29.17%.

Analyst Ratings Changes

SLB has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price target on shares of Schlumberger from $59.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 8th. Susquehanna Bancshares boosted their price target on shares of Schlumberger from $52.00 to $59.00 and gave the stock a “positive” rating in a research report on Monday, October 24th. Raymond James initiated coverage on shares of Schlumberger in a research report on Friday, December 9th. They set an “outperform” rating and a $65.00 price target on the stock. StockNews.com downgraded shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Benchmark initiated coverage on shares of Schlumberger in a report on Thursday, January 19th. They issued a “buy” rating and a $65.00 target price on the stock. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.52.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new stake in Schlumberger in the first quarter valued at approximately $25,000. Legacy Bridge LLC lifted its stake in Schlumberger by 238.0% in the fourth quarter. Legacy Bridge LLC now owns 649 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 457 shares during the last quarter. MinichMacGregor Wealth Management LLC acquired a new stake in Schlumberger in the fourth quarter valued at approximately $36,000. Clearview Wealth Advisors LLC lifted its stake in Schlumberger by 1,346.0% in the third quarter. Clearview Wealth Advisors LLC now owns 723 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 673 shares during the last quarter. Finally, Castle Wealth Management LLC acquired a new stake in Schlumberger in the second quarter valued at approximately $27,000. 80.22% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Company Profile

(Get Rating)

Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s software and seismic businesses with its integrated offering of asset performance solutions.

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