Schlumberger Sees Unusually High Options Volume (NYSE:SLB)

by · The Markets Daily

Schlumberger Limited (NYSE:SLB – Get Free Report) saw some unusual options trading on Friday. Investors bought 44,442 call options on the company. This represents an increase of 55% compared to the typical volume of 28,642 call options.

Schlumberger Stock Performance

NYSE:SLB traded up $2.49 during mid-day trading on Friday, reaching $43.58. 30,717,717 shares of the stock were exchanged, compared to its average volume of 13,909,981. The stock has a market capitalization of $61.54 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.35 and a beta of 1.52. Schlumberger has a 1 year low of $36.52 and a 1 year high of $55.69. The company has a 50 day simple moving average of $40.85 and a 200-day simple moving average of $42.92. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB – Get Free Report) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9,241,140 billion. During the same period last year, the firm posted $0.86 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts anticipate that Schlumberger will post 3.39 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.62%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is presently 35.37%.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Schlumberger

Several hedge funds have recently made changes to their positions in SLB. Whalen Wealth Management Inc. purchased a new stake in Schlumberger during the 4th quarter valued at approximately $377,000. Avior Wealth Management LLC increased its holdings in shares of Schlumberger by 41.8% in the fourth quarter. Avior Wealth Management LLC now owns 11,862 shares of the oil and gas company’s stock valued at $498,000 after purchasing an additional 3,498 shares during the period. Baker Ellis Asset Management LLC purchased a new stake in shares of Schlumberger during the fourth quarter worth approximately $457,000. Missouri Trust & Investment Co lifted its holdings in shares of Schlumberger by 9.4% during the fourth quarter. Missouri Trust & Investment Co now owns 10,450 shares of the oil and gas company’s stock worth $401,000 after purchasing an additional 900 shares during the period. Finally, Bourne Lent Asset Management Inc. grew its position in Schlumberger by 55.0% in the 4th quarter. Bourne Lent Asset Management Inc. now owns 8,450 shares of the oil and gas company’s stock valued at $324,000 after buying an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SLB. JPMorgan Chase & Co. reduced their price objective on Schlumberger from $55.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Wells Fargo & Company reduced their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Finally, Bank of America decreased their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.03.

Read Our Latest Analysis on SLB

Schlumberger Company Profile

(Get Free Report)

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.

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