Schlumberger Limited. (NYSE:SLB) Sees Significant Decline in Short Interest

Schlumberger Limited. (NYSE:SLB) saw a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 24,469,500 shares, a decrease of 7.4% from the July 31st total of 26,419,800 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average daily volume of 10,300,000 shares, the short-interest ratio is currently 2.4 days.

SLB has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Schlumberger from $41.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday. Stifel Nicolaus upgraded shares of Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Friday, June 7th. AltaCorp Capital restated an “outperform” rating on shares of Schlumberger in a research report on Thursday, June 20th. Bank of America lowered their target price on shares of Schlumberger from $51.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, August 28th. Finally, Morgan Stanley upgraded shares of Schlumberger from an “equal weight” rating to an “overweight” rating and set a $51.00 target price on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $51.05.

Shares of SLB traded up $0.43 during mid-day trading on Friday, reaching $37.33. 8,453,300 shares of the company’s stock were exchanged, compared to its average volume of 10,415,179. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.39 and a quick ratio of 1.01. The stock has a market capitalization of $51.81 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 2.63 and a beta of 1.49. The business’s fifty day simple moving average is $34.88 and its 200-day simple moving average is $39.40. Schlumberger has a 52-week low of $31.03 and a 52-week high of $63.65.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The firm had revenue of $8.27 billion for the quarter, compared to analyst estimates of $8.11 billion. During the same period last year, the firm posted $0.43 EPS. Schlumberger’s quarterly revenue was down .4% on a year-over-year basis. Equities research analysts predict that Schlumberger will post 1.5 earnings per share for the current year.

The company also recently disclosed 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 (DPR) is 123.46%.

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

Large investors have recently bought and sold shares of the stock. Lenox Wealth Management Inc. lifted its holdings in Schlumberger by 41.1% in the first quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 256 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Schlumberger by 1.0% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 25,410 shares of the oil and gas company’s stock valued at $1,010,000 after acquiring an additional 262 shares during the period. Pendal Group Ltd lifted its holdings in Schlumberger by 1.5% in the second quarter. Pendal Group Ltd now owns 18,636 shares of the oil and gas company’s stock valued at $703,000 after acquiring an additional 269 shares during the period. Monarch Capital Management Inc. lifted its holdings in Schlumberger by 1.3% in the first quarter. Monarch Capital Management Inc. now owns 21,414 shares of the oil and gas company’s stock valued at $933,000 after acquiring an additional 285 shares during the period. Finally, Cetera Advisor Networks LLC lifted its holdings in Schlumberger by 2.7% in the first quarter. Cetera Advisor Networks LLC now owns 10,746 shares of the oil and gas company’s stock valued at $471,000 after acquiring an additional 286 shares during the period. Hedge funds and other institutional investors own 76.94% of the company’s stock.

About Schlumberger

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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