Schlumberger (NYSE:SLB) Trading Down 1.2%

Schlumberger Limited (NYSE:SLB)’s share price fell 1.2% on Tuesday . The stock traded as low as $50.69 and last traded at $51.05. 2,916,864 shares were traded during trading, a decline of 74% from the average session volume of 11,185,900 shares. The stock had previously closed at $51.67.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SLB shares. Stifel Nicolaus upped their target price on Schlumberger from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Bank of America upped their target price on Schlumberger from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday. Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Wednesday, April 3rd. Susquehanna reiterated a “positive” rating and set a $77.00 price target on shares of Schlumberger in a research report on Monday, April 8th. Finally, Wells Fargo & Company increased their price target on Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.31.

Schlumberger Stock Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.00. The stock has a market cap of $72.53 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 0.98 and a beta of 1.60. The firm has a fifty day moving average of $51.50 and a 200 day moving average of $52.50.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The firm had revenue of $8.99 billion during the quarter, compared to analysts’ expectations of $8.96 billion. During the same quarter last year, the firm earned $0.71 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.52 EPS for the current year.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Schlumberger news, EVP Mogharbel Khaled Al sold 38,570 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $50.42, for a total transaction of $1,944,699.40. Following the completion of the sale, the executive vice president now owns 386,841 shares of the company’s stock, valued at $19,504,523.22. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. Insiders sold a total of 172,191 shares of company stock valued at $8,636,322 over the last quarter. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Schlumberger

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirador Capital Partners LP purchased a new position in shares of Schlumberger during the first quarter worth $200,000. LVW Advisors LLC purchased a new position in shares of Schlumberger during the first quarter worth $203,000. Dumont & Blake Investment Advisors LLC boosted its position in shares of Schlumberger by 4.7% during the first quarter. Dumont & Blake Investment Advisors LLC now owns 21,324 shares of the oil and gas company’s stock worth $1,169,000 after buying an additional 964 shares during the period. Grimes & Company Inc. boosted its position in shares of Schlumberger by 4.2% during the first quarter. Grimes & Company Inc. now owns 226,209 shares of the oil and gas company’s stock worth $12,399,000 after buying an additional 9,141 shares during the period. Finally, Griffin Asset Management Inc. boosted its position in shares of Schlumberger by 0.6% during the first quarter. Griffin Asset Management Inc. now owns 71,537 shares of the oil and gas company’s stock worth $3,921,000 after buying an additional 422 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

About Schlumberger

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.