Gavin Rennick Sells 6,675 Shares of Schlumberger Limited (NYSE:SLB) Stock

Schlumberger Limited (NYSE:SLB) insider Gavin Rennick sold 6,675 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $52.88, for a total transaction of $352,974.00. Following the completion of the sale, the insider now owns 39,958 shares of the company’s stock, valued at $2,112,979.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Schlumberger Price Performance

Shares of NYSE SLB traded down $0.11 during midday trading on Monday, reaching $52.74. The company’s stock had a trading volume of 7,976,624 shares, compared to its average volume of 9,289,782. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.36. Schlumberger Limited has a fifty-two week low of $42.73 and a fifty-two week high of $62.78. The business’s 50 day moving average price is $57.46 and its two-hundred day moving average price is $54.17. The company has a market cap of $75.07 billion, a P/E ratio of 18.25, a P/E/G ratio of 0.71 and a beta of 1.77.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The company had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.32 billion. Schlumberger had a net margin of 12.98% and a return on equity of 21.80%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 earnings per share. On average, analysts forecast that Schlumberger Limited will post 2.97 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Wednesday, December 6th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. Schlumberger’s dividend payout ratio (DPR) is 34.60%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SLB. BluePath Capital Management LLC bought a new stake in shares of Schlumberger during the third quarter worth $25,000. Acadian Asset Management LLC bought a new stake in shares of Schlumberger during the first quarter worth $25,000. Exos TFP Holdings LLC grew its stake in shares of Schlumberger by 269.7% during the first quarter. Exos TFP Holdings LLC now owns 536 shares of the oil and gas company’s stock worth $26,000 after buying an additional 391 shares during the last quarter. Coppell Advisory Solutions LLC bought a new stake in shares of Schlumberger during the second quarter worth $27,000. Finally, MCF Advisors LLC grew its stake in shares of Schlumberger by 1,355.9% in the third quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 461 shares during the last quarter. 79.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SLB has been the subject of several recent analyst reports. HSBC cut their target price on shares of Schlumberger from $75.00 to $71.00 in a research note on Thursday, July 27th. Barclays raised their target price on shares of Schlumberger from $75.00 to $77.00 and gave the company an “overweight” rating in a research note on Tuesday, October 24th. Piper Sandler raised their price objective on shares of Schlumberger from $64.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, September 11th. StockNews.com started coverage on shares of Schlumberger in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Raymond James raised their price objective on shares of Schlumberger from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average price target of $70.36.

About Schlumberger

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, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.