Schlumberger Limited (NYSE:SLB) Short Interest Update

Schlumberger Limited (NYSE:SLB) was the target of a large decline in short interest in June. As of June 30th, there was short interest totalling 23,310,000 shares, a decline of 26.7% from the June 15th total of 31,780,000 shares. Based on an average trading volume of 12,330,000 shares, the days-to-cover ratio is presently 1.9 days.

In other news, EVP Hinda Gharbi sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, May 6th. The stock was sold at an average price of $30.10, for a total value of $903,000.00. Following the transaction, the executive vice president now directly owns 129,262 shares of the company’s stock, valued at approximately $3,890,786.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in SLB. Meyer Handelman Co. boosted its stake in Schlumberger by 4.2% in the 1st quarter. Meyer Handelman Co. now owns 237,680 shares of the oil and gas company’s stock worth $6,463,000 after purchasing an additional 9,550 shares during the period. Maryland State Retirement & Pension System boosted its stake in Schlumberger by 374.2% in the 1st quarter. Maryland State Retirement & Pension System now owns 106,230 shares of the oil and gas company’s stock worth $2,888,000 after purchasing an additional 83,830 shares during the period. Chevy Chase Trust Holdings Inc. boosted its stake in Schlumberger by 23.8% in the 1st quarter. Chevy Chase Trust Holdings Inc. now owns 2,771,826 shares of the oil and gas company’s stock worth $75,364,000 after purchasing an additional 531,978 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in Schlumberger by 11.0% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 98,910 shares of the oil and gas company’s stock worth $2,690,000 after purchasing an additional 9,773 shares during the period. Finally, Elo Mutual Pension Insurance Co boosted its stake in Schlumberger by 1.8% in the 1st quarter. Elo Mutual Pension Insurance Co now owns 100,426 shares of the oil and gas company’s stock worth $2,731,000 after purchasing an additional 1,735 shares during the period. 75.01% of the stock is owned by institutional investors.

Shares of SLB stock opened at $28.43 on Thursday. Schlumberger has a 12-month low of $13.70 and a 12-month high of $36.87. The firm has a market cap of $39.75 billion, a price-to-earnings ratio of -13.87 and a beta of 2.40. The company has a quick ratio of 0.96, a current ratio of 1.30 and a debt-to-equity ratio of 1.22. The company has a fifty day moving average price of $32.29.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Thursday, April 22nd. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. Schlumberger had a negative net margin of 13.30% and a positive return on equity of 7.20%. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the previous year, the business earned $0.25 EPS. The firm’s revenue was down 29.9% on a year-over-year basis. Sell-side analysts predict that Schlumberger will post 1.12 earnings per share for the current year.

Several research analysts recently weighed in on SLB shares. Morgan Stanley boosted their price objective on shares of Schlumberger from $32.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, July 9th. Stephens upgraded shares of Schlumberger from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $27.00 to $35.00 in a research report on Monday, April 26th. boosted their price objective on shares of Schlumberger from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, April 26th. TheStreet upgraded shares of Schlumberger from a “d+” rating to a “c-” rating in a research report on Thursday, June 10th. Finally, The Goldman Sachs Group started coverage on shares of Schlumberger in a research report on Thursday, May 13th. They issued a “buy” rating and a $38.00 price objective for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $28.61.

Schlumberger Company Profile

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. It operates in four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company 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; and petro technical data services and training solutions.

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