Schlumberger Limited. (SLB) Sees Significant Decrease in Short Interest
Schlumberger Limited. (NYSE:SLB) was the target of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 23,916,441 shares, a decrease of 12.5% from the January 12th total of 27,333,096 shares. Approximately 1.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 9,952,452 shares, the days-to-cover ratio is currently 2.4 days.
In related news, insider Howard Guild sold 25,000 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $78.26, for a total transaction of $1,956,500.00. Following the completion of the sale, the insider now directly owns 22,410 shares in the company, valued at approximately $1,753,806.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Simon Ayat sold 75,000 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $78.86, for a total value of $5,914,500.00. Following the sale, the chief financial officer now owns 138,827 shares of the company’s stock, valued at $10,947,897.22. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Valley National Advisers Inc. grew its stake in Schlumberger by 0.3% during the second quarter. Valley National Advisers Inc. now owns 2,594 shares of the oil and gas company’s stock worth $171,000 after purchasing an additional 8 shares during the period. Frontier Wealth Management LLC grew its stake in Schlumberger by 0.4% during the second quarter. Frontier Wealth Management LLC now owns 8,229 shares of the oil and gas company’s stock worth $542,000 after purchasing an additional 35 shares during the period. Glassman Wealth Services grew its stake in Schlumberger by 0.8% during the second quarter. Glassman Wealth Services now owns 5,276 shares of the oil and gas company’s stock worth $347,000 after purchasing an additional 44 shares during the period. Fernwood Investment Management LLC grew its stake in Schlumberger by 1.2% during the second quarter. Fernwood Investment Management LLC now owns 4,125 shares of the oil and gas company’s stock worth $272,000 after purchasing an additional 50 shares during the period. Finally, Choate Investment Advisors boosted its holdings in Schlumberger by 0.4% in the second quarter. Choate Investment Advisors now owns 14,516 shares of the oil and gas company’s stock worth $956,000 after acquiring an additional 60 shares in the last quarter. 79.18% of the stock is owned by institutional investors and hedge funds.
Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 19th. The oil and gas company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. Schlumberger had a positive return on equity of 5.27% and a negative net margin of 4.94%. The business had revenue of $8.18 billion during the quarter, compared to analysts’ expectations of $8.12 billion. During the same quarter last year, the firm posted $0.27 earnings per share. The firm’s revenue was up 15.1% on a year-over-year basis. sell-side analysts expect that Schlumberger will post 2.19 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Wednesday, February 7th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, February 6th. This represents a $2.00 annualized dividend and a yield of 3.03%. Schlumberger’s dividend payout ratio is currently -183.49%.
Several analysts recently weighed in on SLB shares. Piper Jaffray Companies set a $74.00 price objective on Schlumberger and gave the stock a “buy” rating in a research report on Saturday, October 21st. Goldman Sachs Group downgraded Schlumberger from a “conviction-buy” rating to a “buy” rating and set a $75.00 price objective for the company. in a research report on Monday, November 13th. Royal Bank of Canada set a $73.00 price objective on Schlumberger and gave the stock a “buy” rating in a research report on Thursday, December 21st. Scotiabank set a $80.00 price objective on Schlumberger and gave the stock a “buy” rating in a research report on Saturday, October 21st. Finally, UBS Group set a $95.00 price objective on Schlumberger and gave the stock a “buy” rating in a research report on Monday, January 22nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Schlumberger presently has a consensus rating of “Buy” and a consensus price target of $82.29.
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Schlumberger Company Profile
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.
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