Schlumberger (NYSE:SLB) Shares Gap Up to $32.72

Shares of Schlumberger Limited. (NYSE:SLB) gapped up prior to trading on Monday . The stock had previously closed at $31.91, but opened at $32.72. Schlumberger shares last traded at $34.10, with a volume of 11,066,953 shares trading hands.

A number of research analysts have weighed in on SLB shares. Bank of America restated a “buy” rating and issued a $51.00 price target (down from $60.00) on shares of Schlumberger in a research note on Tuesday, June 25th. Morgan Stanley set a $51.00 price target on Schlumberger and gave the company a “hold” rating in a research note on Monday, April 22nd. Raymond James restated a “hold” rating on shares of Schlumberger in a research note on Friday, June 21st. AltaCorp Capital restated an “outperform” rating on shares of Schlumberger in a research note on Thursday, June 20th. Finally, Royal Bank of Canada decreased their price target on Schlumberger to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $52.17.

The company has a market capitalization of $43.77 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 1.98 and a beta of 1.44. The stock has a 50-day moving average price of $37.81 and a 200-day moving average price of $40.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.39 and a quick ratio of 1.01.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.35. The company had revenue of $8.27 billion during the quarter, compared to analysts’ expectations of $8.11 billion. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The business’s revenue was down .4% on a year-over-year basis. During the same period last year, the firm posted $0.43 earnings per share. Equities analysts forecast that Schlumberger Limited. will post 1.51 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.00 annualized dividend and a yield of 5.87%. Schlumberger’s payout ratio is currently 123.46%.

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

Large investors have recently added to or reduced their stakes in the stock. Quad Cities Investment Group LLC acquired a new stake in Schlumberger during the 2nd quarter worth approximately $32,000. Mizuho Securities Co. Ltd. acquired a new position in Schlumberger in the 2nd quarter valued at $32,000. Doyle Wealth Management acquired a new position in Schlumberger in the 2nd quarter valued at $33,000. Meridian Wealth Management LLC acquired a new position in Schlumberger in the 1st quarter valued at $38,000. Finally, Lenox Wealth Management Inc. raised its holdings in Schlumberger by 41.1% in the 1st 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 in the last quarter. 77.19% of the stock is owned by institutional investors and hedge funds.

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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