Insider Selling: Sherif Foda Sells 13,200 Shares of Schlumberger Stock (SLB)
Schlumberger (NYSE:SLB) Insider Sherif Foda sold 13,200 shares of the stock on the open market in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $94.00, for a total value of $1,240,800.00. Following the sale, the insider now directly owns 576 shares in the company, valued at approximately $54,144. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on SLB. Analysts at JPMorgan Chase & Co. raised their price target on shares of Schlumberger from $105.00 to $107.00 in a research note to investors on Tuesday. They now have an “overweight” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Schlumberger in a research note to investors on Tuesday. They now have a $124.00 price target on the stock. Finally, analysts at Sanford C. Bernstein reiterated an “outperform” rating on shares of Schlumberger in a research note to investors on Tuesday. They now have a $112.00 price target on the stock, up previously from $97.00. Five investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $102.75.
Schlumberger (NYSE:SLB) traded down 1.56% during mid-day trading on Wednesday, hitting $92.99. 5,118,709 shares of the company’s stock traded hands. Schlumberger has a one year low of $66.85 and a one year high of $87.18. The stock has a 50-day moving average of $82.57 and a 200-day moving average of $77.02. The company has a market cap of $122.9 billion and a price-to-earnings ratio of 19.64.
Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The company reported $1.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.24 by $0.05. The company had revenue of $11.61 billion for the quarter, compared to the consensus estimate of $11.58 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Analysts expect that Schlumberger will post $4.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, January 10th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.31 per share. This represents a $1.25 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Monday, December 2nd.
Schlumberger Limited (NYSE:SLB) is the supplier of technology, integrated project management and information solutions to the international oil and gas exploration and production industry.
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