Schlumberger (NYSE:SLB) Stock Price Down 0.5% After Analyst Downgrade

Shares of Schlumberger Limited (NYSE:SLB) dropped 0.5% during trading on Wednesday after UBS Group lowered their price target on the stock from $63.00 to $57.00. UBS Group currently has a buy rating on the stock. Schlumberger traded as low as $41.28 and last traded at $41.31. Approximately 2,322,345 shares traded hands during trading, a decline of 78% from the average daily volume of 10,763,464 shares. The stock had previously closed at $41.50.

Several other equities research analysts also recently commented on the stock. Barclays reduced their price target on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a report on Monday, July 22nd. StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Evercore ISI increased their price objective on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, Susquehanna lowered their target price on Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research note on Thursday, July 11th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.29.

Insider Transactions at Schlumberger

In other news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,716 shares of company stock worth $9,048,624. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Schlumberger

Several hedge funds have recently modified their holdings of SLB. BCM Advisors LLC boosted its holdings in Schlumberger by 1.1% in the 1st quarter. BCM Advisors LLC now owns 18,904 shares of the oil and gas company’s stock valued at $1,036,000 after purchasing an additional 204 shares during the period. Checchi Capital Advisers LLC grew its position in Schlumberger by 1.9% during the first quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock worth $592,000 after buying an additional 204 shares in the last quarter. Financial Advocates Investment Management increased its stake in Schlumberger by 3.4% during the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 218 shares during the period. Hilltop Holdings Inc. raised its holdings in Schlumberger by 2.1% in the 4th quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock valued at $560,000 after acquiring an additional 219 shares in the last quarter. Finally, Chilton Capital Management LLC lifted its position in shares of Schlumberger by 0.8% in the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after acquiring an additional 219 shares during the period. 81.99% of the stock is owned by institutional investors.

Schlumberger Trading Up 3.2 %

The business has a 50-day moving average price of $44.56 and a 200-day moving average price of $47.45. 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 firm has a market capitalization of $60.71 billion, a P/E ratio of 14.20, a PEG ratio of 0.86 and a beta of 1.51.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter in the previous year, the company earned $0.72 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. Analysts anticipate that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.57%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

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.