Traders Sell Shares of Schlumberger (SLB) on Strength (SLB)
Investors sold shares of Schlumberger Limited. (NYSE:SLB) on strength during trading on Monday. $52.43 million flowed into the stock on the tick-up and $91.70 million flowed out of the stock on the tick-down, for a money net flow of $39.27 million out of the stock. Of all equities tracked, Schlumberger had the 32nd highest net out-flow for the day. Schlumberger traded up $1.31 for the day and closed at $68.34
A number of research firms have recently commented on SLB. Citigroup cut their price target on shares of Schlumberger from $84.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, June 13th. Credit Suisse Group set a $80.00 price target on shares of Schlumberger and gave the company a “buy” rating in a report on Tuesday, June 12th. ValuEngine cut shares of Schlumberger from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Susquehanna Bancshares set a $87.00 price target on shares of Schlumberger and gave the company a “buy” rating in a report on Monday, April 23rd. Finally, Seaport Global Securities set a $76.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a report on Monday, April 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Schlumberger currently has an average rating of “Buy” and a consensus price target of $80.61.
The company has a market capitalization of $92.83 billion, a price-to-earnings ratio of 45.56, a price-to-earnings-growth ratio of 5.87 and a beta of 1.06. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.36.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Wednesday, June 6th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Tuesday, June 5th. Schlumberger’s dividend payout ratio is presently 133.33%.
In other news, VP Claudia Jaramillo sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $72.68, for a total transaction of $218,040.00. Following the sale, the vice president now directly owns 6,162 shares in the company, valued at approximately $447,854.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.48% of the company’s stock.
Several hedge funds have recently made changes to their positions in SLB. BlackRock Inc. increased its holdings in Schlumberger by 0.4% in the 1st quarter. BlackRock Inc. now owns 88,043,418 shares of the oil and gas company’s stock valued at $5,703,455,000 after acquiring an additional 366,513 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Schlumberger by 6.8% in the 4th quarter. Bank of New York Mellon Corp now owns 27,353,450 shares of the oil and gas company’s stock valued at $1,843,349,000 after acquiring an additional 1,733,171 shares during the last quarter. Northern Cross LLC increased its holdings in Schlumberger by 15.3% in the 4th quarter. Northern Cross LLC now owns 19,852,648 shares of the oil and gas company’s stock valued at $1,337,870,000 after acquiring an additional 2,637,527 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in Schlumberger by 0.6% in the 1st quarter. First Eagle Investment Management LLC now owns 19,247,155 shares of the oil and gas company’s stock valued at $1,246,831,000 after acquiring an additional 118,890 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Schlumberger by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 14,131,891 shares of the oil and gas company’s stock valued at $950,287,000 after acquiring an additional 309,033 shares during the last quarter. Hedge funds and other institutional investors own 78.42% of the company’s stock.
Schlumberger Company Profile
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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