Traders Sell Shares of Schlumberger (SLB) on Strength (SLB)
Investors sold shares of Schlumberger Limited. (NYSE:SLB) on strength during trading hours on Wednesday. $116.29 million flowed into the stock on the tick-up and $174.02 million flowed out of the stock on the tick-down, for a money net flow of $57.73 million out of the stock. Of all stocks tracked, Schlumberger had the 6th highest net out-flow for the day. Schlumberger traded up $0.70 for the day and closed at $75.60
Several equities research analysts recently weighed in on SLB shares. JPMorgan Chase & Co. cut their target price on shares of Schlumberger from $79.00 to $76.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 12th. Jefferies Group reaffirmed a “buy” rating and set a $80.00 target price on shares of Schlumberger in a research note on Friday, September 29th. Citigroup upped their target price on shares of Schlumberger from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Cowen set a $80.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a research note on Friday, October 6th. Finally, Royal Bank of Canada set a $86.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a research note on Saturday, October 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $79.37.
The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.53. The company has a market cap of $104,730.00, a price-to-earnings ratio of 193.85, a PEG ratio of 1.53 and a beta of 1.01.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Wednesday, December 6th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Tuesday, December 5th. Schlumberger’s payout ratio is 512.82%.
In other news, Director Tore I. Sandvold sold 3,500 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total value of $219,205.00. Following the completion of the transaction, the director now owns 1,500 shares in the company, valued at approximately $93,945. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.38% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Harding Loevner LP boosted its stake in Schlumberger by 1,337.3% during the 3rd quarter. Harding Loevner LP now owns 138,957,632 shares of the oil and gas company’s stock worth $569,035,000 after purchasing an additional 129,289,552 shares during the period. Vanguard Group Inc. boosted its stake in Schlumberger by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 99,022,940 shares of the oil and gas company’s stock worth $6,519,670,000 after purchasing an additional 2,790,227 shares during the period. Dodge & Cox boosted its stake in Schlumberger by 12.8% during the 2nd quarter. Dodge & Cox now owns 48,271,463 shares of the oil and gas company’s stock worth $3,178,193,000 after purchasing an additional 5,494,165 shares during the period. Bank of New York Mellon Corp boosted its stake in Schlumberger by 2.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 25,620,279 shares of the oil and gas company’s stock worth $1,787,272,000 after purchasing an additional 548,250 shares during the period. Finally, Northern Trust Corp boosted its stake in Schlumberger by 2.9% during the 2nd quarter. Northern Trust Corp now owns 18,762,468 shares of the oil and gas company’s stock worth $1,235,321,000 after purchasing an additional 536,928 shares during the period. Institutional investors and hedge funds own 79.31% of the company’s stock.
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Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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