Schlumberger (NYSE:SLB) Shares Gap Up to $34.20
Schlumberger Limited. (NYSE:SLB)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $31.35, but opened at $34.20. Schlumberger shares last traded at $37.46, with a volume of 18,269,374 shares changing hands.
Several equities research analysts have weighed in on SLB shares. Gabelli started coverage on Schlumberger in a research note on Thursday, June 27th. They set a “buy” rating and a $55.00 price objective on the stock. Piper Jaffray Companies set a $40.00 price objective on Schlumberger and gave the company a “buy” rating in a research report on Monday, July 1st. JPMorgan Chase & Co. lowered their price objective on Schlumberger from $41.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday. Morgan Stanley upgraded Schlumberger from an “equal weight” rating to an “overweight” rating and set a $51.00 target price for the company in a report on Tuesday. Finally, AltaCorp Capital reissued an “outperform” rating on shares of Schlumberger in a research report on Thursday, June 20th. Two equities 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 has a consensus rating of “Hold” and an average price target of $51.44.
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 business has a 50 day moving average price of $34.98 and a 200 day moving average price of $39.47. The stock has a market cap of $47.30 billion, a P/E ratio of 23.12, a PEG ratio of 2.40 and a beta of 1.50.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 4th will be paid 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 5.34%. Schlumberger’s payout ratio is 123.46%.
In other Schlumberger news, insider Stephanie Cox sold 24,057 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $40.59, for a total value of $976,473.63. Following the transaction, the insider now directly owns 46,354 shares in the company, valued at approximately $1,881,508.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick Schorn sold 12,151 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $38.93, for a total transaction of $473,038.43. Following the completion of the transaction, the executive vice president now 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 company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in shares of Schlumberger by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 16,487,841 shares of the oil and gas company’s stock valued at $593,754,000 after buying an additional 1,125,484 shares during the period. Buffington Mohr McNeal bought a new position in Schlumberger during the 1st quarter worth about $100,000. M&R Capital Management Inc. grew its holdings in Schlumberger by 9.0% during the 1st quarter. M&R Capital Management Inc. now owns 12,527 shares of the oil and gas company’s stock worth $542,000 after acquiring an additional 1,031 shares in the last quarter. Bourgeon Capital Management LLC increased its position in Schlumberger by 19.8% during the 1st quarter. Bourgeon Capital Management LLC now owns 84,292 shares of the oil and gas company’s stock valued at $3,673,000 after purchasing an additional 13,927 shares during the period. Finally, Sheaff Brock Investment Advisors LLC increased its position in Schlumberger by 15.3% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,809 shares of the oil and gas company’s stock valued at $340,000 after purchasing an additional 1,036 shares during the period. Hedge funds and other institutional investors 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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