Schlumberger President Patrick Schorn Unloads 2,990 Shares (SLB)
Schlumberger (NYSE:SLB) President Patrick Schorn unloaded 2,990 shares of the company’s stock on the open market in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $92.00, for a total transaction of $275,080.00. Following the transaction, the president now directly owns 20,000 shares in the company, valued at approximately $1,840,000. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on SLB. Analysts at TheStreet reiterated a “hold” rating on shares of Schlumberger in a research note to investors on Tuesday. Separately, analysts at Credit Suisse raised their price target on shares of Schlumberger from $105.00 to $108.00 in a research note to investors on Tuesday. They now have a “neutral” rating on the stock. Finally, analysts at Johnson Rice upgraded shares of Schlumberger from an “equal weight” rating to an “overweight” rating in a research note to investors on Tuesday. Five research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Schlumberger has an average rating of “Buy” and a consensus target price of $104.36.
Shares of Schlumberger (NYSE:SLB) traded up 0.98% during mid-day trading on Tuesday, hitting $91.09. 8,312,362 shares of the company’s stock traded hands. Schlumberger has a one year low of $69.08 and a one year high of $94.91. The stock has a 50-day moving average of $87.92 and a 200-day moving average of $86.81. The company has a market cap of $120.0 billion and a P/E ratio of 18.76.
Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The company reported $1.35 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.35. The company had revenue of $11.91 billion for the quarter, compared to the consensus estimate of $12.06 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Analysts expect that Schlumberger will post $4.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, April 11th. Investors of record on Wednesday, February 19th will be given a dividend of 0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.76%.
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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