SLB Sees Unusually Large Options Volume (NYSE:SLB)

SLB Limited (NYSE:SLB) was the recipient of some unusual options trading on Tuesday. Stock traders acquired 404,796 call options on the stock. This is an increase of approximately 1,173% compared to the typical daily volume of 31,796 call options.

SLB Trading Down 0.5%

SLB stock traded down $0.24 during trading on Tuesday, reaching $50.31. The company had a trading volume of 11,056,624 shares, compared to its average volume of 22,717,400. SLB has a 52 week low of $31.11 and a 52 week high of $51.67. The business has a 50 day moving average of $43.16 and a 200 day moving average of $37.83. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98. The company has a market cap of $75.22 billion, a P/E ratio of 21.23, a PEG ratio of 3.45 and a beta of 0.72.

SLB (NYSE:SLB) last released its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. SLB had a net margin of 9.45% and a return on equity of 17.45%. The firm had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.54 billion. During the same period in the prior year, the firm earned $0.92 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts forecast that SLB will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be paid a dividend of $0.295 per share. The ex-dividend date is Wednesday, February 11th. This represents a $1.18 annualized dividend and a yield of 2.3%. This is a positive change from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio (DPR) is 48.10%.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $50.29, for a total value of $201,160.00. Following the transaction, the director directly owned 19,525 shares in the company, valued at approximately $981,912.25. This represents a 17.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dianne B. Ralston sold 18,617 shares of SLB stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.50, for a total transaction of $921,541.50. Following the sale, the insider owned 224,097 shares of the company’s stock, valued at approximately $11,092,801.50. The trade was a 7.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 200,849 shares of company stock worth $9,406,603. Company insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On SLB

Institutional investors have recently modified their holdings of the business. Twin Peaks Wealth Advisors LLC bought a new stake in SLB during the 2nd quarter worth approximately $25,000. Steph & Co. raised its stake in SLB by 97.5% during the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 394 shares during the period. Strategic Wealth Advisors LLC purchased a new position in SLB in the 4th quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in SLB in the 4th quarter worth approximately $31,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in SLB during the 4th quarter valued at approximately $31,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SLB shares. Sanford C. Bernstein lifted their target price on shares of SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. The Goldman Sachs Group reiterated a “buy” rating and issued a $49.00 price objective on shares of SLB in a report on Wednesday, January 14th. Evercore set a $54.00 price target on SLB and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Argus raised SLB to a “strong-buy” rating in a research note on Monday, January 26th. Finally, Bank of America increased their price objective on SLB from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, SLB has a consensus rating of “Moderate Buy” and a consensus price target of $52.38.

SLB Company Profile

SLB (NYSE: SLB), historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB’s product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.