Schlumberger (NYSE:SLB) Trading Up 5.9%

Schlumberger Limited. (NYSE:SLB)’s share price traded up 5.9% during mid-day trading on Monday . The company traded as high as $36.46 and last traded at $36.23, 13,364,883 shares were traded during mid-day trading. An increase of 30% from the average session volume of 10,313,817 shares. The stock had previously closed at $34.20.

SLB has been the subject of several recent analyst reports. Morgan Stanley upgraded shares of Schlumberger from an “equal weight” rating to an “overweight” rating and set a $51.00 price objective for the company in a research note on Tuesday. Stifel Nicolaus upgraded shares of Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Friday, June 7th. Raymond James restated a “hold” rating on shares of Schlumberger in a research note on Friday, June 21st. Gabelli initiated coverage on Schlumberger in a research report on Thursday, June 27th. They set a “buy” rating and a $55.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on Schlumberger from $41.00 to $34.00 and set a “neutral” rating for the company in a report on Monday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $51.44.

The firm has a market capitalization of $50.11 billion, a price-to-earnings ratio of 23.04, a P/E/G ratio of 2.54 and a beta of 1.49. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average price is $34.94 and its 200 day moving average price is $39.43.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The firm had revenue of $8.27 billion for the quarter, compared to the consensus estimate of $8.11 billion. During the same period in the prior year, the firm earned $0.43 EPS. The firm’s revenue was down .4% on a year-over-year basis. As a group, analysts expect that Schlumberger Limited. will post 1.51 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be given a $0.50 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 5.36%. Schlumberger’s dividend payout ratio is currently 123.46%.

In other Schlumberger news, insider Stephanie Cox sold 24,057 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $40.59, for a total value of $976,473.63. Following the sale, the insider now directly owns 46,354 shares of the company’s stock, valued at $1,881,508.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Patrick Schorn sold 12,151 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $38.93, for a total value of $473,038.43. Following the sale, the executive vice president now directly owns 130,000 shares in the company, valued at $5,060,900. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Schlumberger by 1.5% in the second quarter. Vanguard Group Inc. now owns 112,662,996 shares of the oil and gas company’s stock valued at $4,477,227,000 after buying an additional 1,715,548 shares in the last quarter. BlackRock Inc. grew its stake in Schlumberger by 2.7% in the 2nd quarter. BlackRock Inc. now owns 89,868,836 shares of the oil and gas company’s stock valued at $3,571,386,000 after acquiring an additional 2,340,320 shares during the period. Bank of New York Mellon Corp grew its stake in Schlumberger by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 27,028,270 shares of the oil and gas company’s stock valued at $1,074,104,000 after acquiring an additional 96,574 shares during the period. Invesco Ltd. increased its holdings in Schlumberger by 57.3% in the 2nd quarter. Invesco Ltd. now owns 16,703,642 shares of the oil and gas company’s stock worth $663,804,000 after acquiring an additional 6,087,455 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Schlumberger by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 16,487,841 shares of the oil and gas company’s stock worth $593,754,000 after acquiring an additional 1,125,484 shares in the last quarter. Institutional investors and hedge funds own 76.94% of the company’s stock.

Schlumberger Company Profile (NYSE:SLB)

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment 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; petro technical data services and training solutions; and integrated management services.

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