SLB Target of Unusually Large Options Trading (NYSE:SLB)

SLB Limited (NYSE:SLB) saw some unusual options trading on Tuesday. Investors bought 404,796 call options on the company. This is an increase of 1,173% compared to the typical volume of 31,796 call options.

SLB Trading Down 0.5%

Shares of SLB stock traded down $0.24 on Tuesday, hitting $50.31. 11,056,624 shares of the company traded hands, compared to its average volume of 22,717,400. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. The company has a market cap of $75.22 billion, a PE ratio of 21.23, a PEG ratio of 3.45 and a beta of 0.72. The stock’s 50 day moving average price is $43.16 and its 200-day moving average price is $37.83. SLB has a 52 week low of $31.11 and a 52 week high of $51.67.

SLB (NYSE:SLB) last announced its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. The company had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. SLB had a return on equity of 17.45% and a net margin of 9.45%.SLB’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 earnings per share. Equities research analysts predict that SLB will post 3.38 EPS for the current year.

SLB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be issued a $0.295 dividend. The ex-dividend date is Wednesday, February 11th. This is an increase from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 2.3%. SLB’s dividend payout ratio is presently 48.10%.

Insider Buying and Selling at SLB

In related news, insider Dianne B. Ralston sold 18,617 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $49.50, for a total transaction of $921,541.50. Following the sale, the insider owned 224,097 shares of the company’s stock, valued at $11,092,801.50. This represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Howard Guild sold 13,268 shares of the company’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $659,419.60. Following the sale, the chief accounting officer owned 22,407 shares in the company, valued at $1,113,627.90. This represents a 37.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 200,849 shares of company stock worth $9,406,603 over the last three months. 0.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLB. Twin Peaks Wealth Advisors LLC acquired a new position in shares of SLB during the second quarter worth $25,000. Root Financial Partners LLC purchased a new position in SLB during the 3rd quarter worth $29,000. Strategic Wealth Advisors LLC acquired a new position in SLB during the 4th quarter valued at about $30,000. Corsicana & Co. purchased a new stake in SLB in the third quarter valued at about $31,000. Finally, Strengthening Families & Communities LLC acquired a new stake in SLB in the third quarter worth about $31,000. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SLB shares. Citigroup lifted their target price on SLB from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Freedom Capital cut shares of SLB from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Piper Sandler increased their target price on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Jefferies Financial Group lifted their price target on shares of SLB from $51.00 to $58.00 and gave the stock a “buy” rating in a research note on Sunday, February 1st. Finally, Stifel Nicolaus set a $56.00 price objective on shares of SLB in a research report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.38.

About SLB

SLB (NYSE: SLB), historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB’s product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.