Schlumberger Limited. Shares Gap Down Following Insider Selling (SLB)
Schlumberger Limited. (NYSE:SLB)’s share price gapped down before the market opened on Tuesday after an insider sold shares in the company, Analyst Ratings.Net reports. The stock had previously closed at $110.04, but opened at $110.22. Schlumberger Limited. shares last traded at $111.25, with a volume of 2,643,628 shares changing hands.
Specifically, Director Mark Danton sold 7,612 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $110.01, for a total transaction of $837,396.12. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Global Hunter Securities raised their price target on shares of Schlumberger Limited. from $9.00 to $126.00 in a research note on Monday, July 21st. They now have a “buy” rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Schlumberger Limited. from $127.00 to $132.00 in a research note on Monday, July 21st. They now have an “outperform” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Schlumberger Limited. in a research note on Monday, July 21st. They now have a $138.00 price target on the stock, up previously from $120.00. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Schlumberger Limited. presently has a consensus rating of “Buy” and an average price target of $126.96.
The stock’s 50-day moving average is $111.1 and its 200-day moving average is $102.5. The company has a market cap of $144.3 billion and a P/E ratio of 22.20.
Schlumberger Limited. (NYSE:SLB) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.37 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.36 by $0.01. The company had revenue of $12.05 billion for the quarter, compared to the consensus estimate of $11.94 billion. During the same quarter in the prior year, the company posted $1.15 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. On average, analysts predict that Schlumberger Limited. will post $5.69 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 10th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Friday, August 29th.
Schlumberger N.V. (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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