Schlumberger (NYSE:SLB) Reaches New 12-Month Low at $34.04

Schlumberger Limited. (NYSE:SLB) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $34.04 and last traded at $34.40, with a volume of 2314729 shares trading hands. The stock had previously closed at $35.46.

A number of research analysts recently issued reports on SLB shares. JPMorgan Chase & Co. lowered their price target on shares of Schlumberger from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Morgan Stanley set a $51.00 price target on shares of Schlumberger and gave the company a “hold” rating in a research report on Monday, April 22nd. Royal Bank of Canada lowered their price target on shares of Schlumberger to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, May 15th. Stifel Nicolaus raised shares of Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Friday, June 7th. Finally, Barclays lowered their price target on shares of Schlumberger from $52.00 to $49.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $52.17.

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 stock has a market capitalization of $51.75 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 2.35 and a beta of 1.44. The stock has a fifty day moving average price of $39.11.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders 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 dividend yield of 5.85%. Schlumberger’s payout ratio is 123.46%.

In other news, EVP Patrick Schorn sold 12,151 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were 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 directly owns 130,000 shares of the company’s stock, valued at $5,060,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephanie Cox sold 24,057 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $40.59, for a total transaction of $976,473.63. Following the transaction, 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. 0.48% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLB. Geode Capital Management LLC boosted its position in Schlumberger by 7.3% in the 4th 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 last quarter. Belpointe Asset Management LLC raised its stake in shares of Schlumberger by 9.3% in the 4th quarter. Belpointe Asset Management LLC now owns 10,325 shares of the oil and gas company’s stock valued at $373,000 after purchasing an additional 876 shares during the period. American Century Companies Inc. raised its stake in shares of Schlumberger by 15.5% in the 4th quarter. American Century Companies Inc. now owns 11,801,880 shares of the oil and gas company’s stock valued at $425,812,000 after purchasing an additional 1,583,692 shares during the period. MUFG Securities EMEA plc raised its stake in shares of Schlumberger by 144.0% in the 4th quarter. MUFG Securities EMEA plc now owns 237,926 shares of the oil and gas company’s stock valued at $8,584,000 after purchasing an additional 140,403 shares during the period. Finally, Pinnacle Bank acquired a new stake in shares of Schlumberger in the 4th quarter valued at about $121,000. 77.24% of the stock is owned by hedge funds and other institutional investors.

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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