Schlumberger Limited. (SLB) Sees Significant Decrease in Short Interest

Schlumberger Limited. (NYSE:SLB) was the recipient of a large decline in short interest in January. As of January 31st, there was short interest totalling 23,916,441 shares, a decline of 12.5% from the January 12th total of 27,333,096 shares. Based on an average trading volume of 9,952,452 shares, the short-interest ratio is presently 2.4 days. Currently, 1.7% of the company’s stock are sold short.

Shares of Schlumberger (NYSE SLB) opened at $65.92 on Wednesday. The stock has a market capitalization of $91,320.00, a price-to-earnings ratio of -60.48, a P/E/G ratio of 4.96 and a beta of 0.98. Schlumberger has a one year low of $61.02 and a one year high of $82.69. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 0.40.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The business had revenue of $8.18 billion during the quarter, compared to the consensus estimate of $8.12 billion. Schlumberger had a positive return on equity of 5.27% and a negative net margin of 4.94%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 EPS. equities analysts predict that Schlumberger will post 2.19 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Wednesday, February 7th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.03%. Schlumberger’s payout ratio is -183.49%.

Several research analysts have weighed in on the company. Zacks Investment Research lowered Schlumberger from a “hold” rating to a “sell” rating in a research report on Monday. Griffin Securities raised Schlumberger from a “neutral” rating to a “buy” rating in a research report on Monday. Barclays set a $75.00 price target on Schlumberger and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. SunTrust Banks boosted their price target on Schlumberger from $72.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. Finally, Susquehanna Bancshares set a $88.00 price target on Schlumberger and gave the stock a “buy” rating in a research report on Monday, January 22nd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. Schlumberger has an average rating of “Buy” and a consensus price target of $82.29.

In other Schlumberger news, insider Howard Guild sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $78.26, for a total value of $1,956,500.00. Following the sale, the insider now owns 22,410 shares in the company, valued at approximately $1,753,806.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Simon Ayat sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $78.86, for a total value of $5,914,500.00. Following the completion of the sale, the chief financial officer now owns 138,827 shares in the company, valued at approximately $10,947,897.22. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Valley National Advisers Inc. lifted its position in shares of Schlumberger by 0.3% during the 2nd quarter. Valley National Advisers Inc. now owns 2,594 shares of the oil and gas company’s stock valued at $171,000 after acquiring an additional 8 shares during the period. Frontier Wealth Management LLC lifted its position in shares of Schlumberger by 0.4% during the 2nd quarter. Frontier Wealth Management LLC now owns 8,229 shares of the oil and gas company’s stock valued at $542,000 after acquiring an additional 35 shares during the period. Glassman Wealth Services lifted its position in shares of Schlumberger by 0.8% during the 2nd quarter. Glassman Wealth Services now owns 5,276 shares of the oil and gas company’s stock worth $347,000 after buying an additional 44 shares during the last quarter. Fernwood Investment Management LLC lifted its position in shares of Schlumberger by 1.2% during the 2nd quarter. Fernwood Investment Management LLC now owns 4,125 shares of the oil and gas company’s stock worth $272,000 after buying an additional 50 shares during the last quarter. Finally, Choate Investment Advisors lifted its position in shares of Schlumberger by 0.4% during the 2nd quarter. Choate Investment Advisors now owns 14,516 shares of the oil and gas company’s stock worth $956,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 79.18% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Schlumberger Limited. (SLB) Sees Significant Decrease in Short Interest” was first reported by American Banking News and is owned by of American Banking News. If you are reading this story on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this story can be read at https://www.americanbankingnews.com/2018/02/14/schlumberger-limited-slb-sees-significant-decrease-in-short-interest.html.

About Schlumberger

Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.

Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply