Schlumberger Sees Unusually Large Options Volume (NYSE:SLB)

Schlumberger Limited (NYSE:SLB) saw some unusual options trading activity on Thursday. Stock traders purchased 43,238 call options on the company. This is an increase of approximately 47% compared to the average volume of 29,428 call options.

Insider Buying and Selling at Schlumberger

In other news, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the transaction, the insider now directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. This represents a 44.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gavin Rennick sold 26,990 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the transaction, the insider now owns 53,584 shares in the company, valued at approximately $2,192,657.28. The trade was a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Several large investors have recently bought and sold shares of SLB. YANKCOM Partnership acquired a new position in shares of Schlumberger during the 4th quarter worth about $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger during the 4th quarter worth about $32,000. Golden State Wealth Management LLC acquired a new position in shares of Schlumberger during the 4th quarter worth about $34,000. Alpine Bank Wealth Management acquired a new position in shares of Schlumberger during the 1st quarter worth about $34,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Schlumberger during the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SLB shares. JPMorgan Chase & Co. upped their price target on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Citigroup upped their price target on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Stifel Nicolaus reduced their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday. Piper Sandler reduced their price target on Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Jefferies Financial Group reduced their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $53.32.

Schlumberger Stock Up 1.5 %

SLB stock opened at $33.76 on Friday. The company has a market cap of $45.91 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 10.10 and a beta of 1.11. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger has a 12 month low of $31.11 and a 12 month high of $50.94. The firm has a 50-day moving average of $37.95 and a two-hundred day moving average of $40.12.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.64 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. Schlumberger’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, analysts forecast that Schlumberger will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.38%. Schlumberger’s dividend payout ratio is presently 38.64%.

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.