Traders Buy Schlumberger (SLB) on Weakness
Investors bought shares of Schlumberger Limited. (NYSE:SLB) on weakness during trading hours on Monday. $158.54 million flowed into the stock on the tick-up and $119.31 million flowed out of the stock on the tick-down, for a money net flow of $39.23 million into the stock. Of all stocks tracked, Schlumberger had the 33rd highest net in-flow for the day. Schlumberger traded down ($0.13) for the day and closed at $64.60
SLB has been the subject of several research reports. Piper Jaffray Companies set a $74.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a research note on Saturday, October 21st. Sanford C. Bernstein reiterated an “outperform” rating and issued a $80.00 target price on shares of Schlumberger in a research note on Wednesday, September 6th. Jefferies Group set a $80.00 target price on shares of Schlumberger and gave the company a “buy” rating in a research note on Friday, August 25th. Goldman Sachs Group cut shares of Schlumberger from a “conviction-buy” rating to a “buy” rating and set a $75.00 target price for the company. in a research note on Monday, November 13th. Finally, Scotiabank set a $80.00 target price on shares of Schlumberger and gave the company a “buy” rating in a research note on Saturday, October 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $79.31.
The company has a market capitalization of $89,487.92, a price-to-earnings ratio of 50.08, a PEG ratio of 1.97 and a beta of 1.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.53 and a quick ratio of 1.20.
The firm 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 dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Tuesday, December 5th. Schlumberger’s payout ratio is 512.83%.
In related news, Director Tore I. Sandvold sold 3,500 shares of the company’s stock in a transaction dated 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 sale, the director now owns 1,500 shares of the company’s stock, valued at $93,945. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in SLB. Harding Loevner LP lifted its position in shares of Schlumberger by 1,337.3% during the third 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 in the last quarter. Vanguard Group Inc. lifted its position in shares of Schlumberger by 2.9% during the second 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 in the last quarter. State Street Corp lifted its position in shares of Schlumberger by 1.1% during the first quarter. State Street Corp now owns 72,400,230 shares of the oil and gas company’s stock worth $5,655,994,000 after purchasing an additional 769,874 shares in the last quarter. Dodge & Cox lifted its position in shares of Schlumberger by 12.8% during the second 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 in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Schlumberger by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 26,666,760 shares of the oil and gas company’s stock worth $2,082,673,000 after purchasing an additional 477,006 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.
Schlumberger Company Profile
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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