Schlumberger Limited (NYSE:SLB) Insider Gavin Rennick Sells 38,083 Shares

Schlumberger Limited (NYSE:SLB) insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the completion of the transaction, the insider now directly owns 45,851 shares in the company, valued at $2,213,686.28. The sale was disclosed in a document filed with the SEC, which is available at this link.

Schlumberger Stock Down 3.7 %

Shares of NYSE SLB opened at $46.48 on Thursday. The company has a 50 day simple moving average of $51.19 and a 200-day simple moving average of $50.90. The company has a market capitalization of $66.44 billion, a P/E ratio of 15.44, a P/E/G ratio of 0.93 and a beta of 1.64. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. Schlumberger Limited has a 1 year low of $42.73 and a 1 year high of $62.12.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 EPS. On average, equities research analysts predict that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.37%. The ex-dividend date is Wednesday, June 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Institutional Trading of Schlumberger

Several institutional investors have recently added to or reduced their stakes in SLB. Capital World Investors increased its holdings in Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after purchasing an additional 37,333,485 shares during the last quarter. Norges Bank acquired a new stake in Schlumberger in the 4th quarter valued at approximately $1,000,292,000. Price T Rowe Associates Inc. MD increased its holdings in Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after purchasing an additional 10,606,191 shares during the last quarter. Winslow Capital Management LLC increased its holdings in Schlumberger by 123,063.5% in the 4th quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock valued at $226,253,000 after purchasing an additional 4,344,141 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in Schlumberger by 79.7% in the 3rd quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock valued at $286,835,000 after purchasing an additional 2,182,706 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Susquehanna reaffirmed a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. Bank of America decreased their price target on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. TD Cowen decreased their target price on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Barclays decreased their target price on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Finally, Benchmark reissued a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.72.

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.