Traders Buy High Volume of Schlumberger Call Options (NYSE:SLB)

Schlumberger Limited (NYSE:SLB) was the recipient of some unusual options trading activity on Tuesday. Traders bought 38,335 call options on the stock. This represents an increase of approximately 57% compared to the typical daily volume of 24,393 call options.

Schlumberger Stock Up 4.1%

Shares of Schlumberger stock opened at $35.52 on Wednesday. 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 1 year low of $31.11 and a 1 year high of $50.94. The stock has a 50-day moving average price of $34.20 and a 200 day moving average price of $38.51. The company has a market cap of $48.31 billion, a P/E ratio of 11.42, a P/E/G ratio of 10.10 and a beta of 1.01.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (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 company had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same period last year, the business earned $0.75 EPS. The company’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, analysts expect that Schlumberger will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.21%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s payout ratio is 38.64%.

Insider Activity at Schlumberger

In related news, insider Aparna Raman sold 25,133 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the transaction, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director La Chevardiere Patrick De sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the sale, the director now directly owns 23,525 shares of the company’s stock, valued at $789,969.50. The trade was a 17.53% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Schlumberger

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in Schlumberger by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after buying an additional 1,166 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Schlumberger in the fourth quarter valued at about $1,815,000. Golden State Wealth Management LLC bought a new position in shares of Schlumberger in the fourth quarter worth about $34,000. Apollon Wealth Management LLC boosted its stake in Schlumberger by 1.8% during the 4th quarter. Apollon Wealth Management LLC now owns 24,902 shares of the oil and gas company’s stock valued at $955,000 after purchasing an additional 432 shares during the period. Finally, Kingsview Wealth Management LLC increased its position in Schlumberger by 4.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 19,482 shares of the oil and gas company’s stock worth $747,000 after buying an additional 790 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on SLB. Piper Sandler dropped their target price on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Wells Fargo & Company cut their target price on shares of Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday, June 5th. Stifel Nicolaus lowered their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Barclays cut their target price on Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Finally, Jefferies Financial Group reduced their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.38.

Schlumberger Company Profile

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.