Schlumberger Limited (NYSE:SLB) Given Consensus Rating of “Moderate Buy” by Brokerages

Schlumberger Limited (NYSE:SLB) has received a consensus recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $68.59.

Several brokerages have commented on SLB. HSBC restated a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a research note on Thursday, April 4th. Citigroup dropped their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Susquehanna reiterated a “positive” rating and set a $77.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Morgan Stanley reiterated an “overweight” rating and set a $65.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Finally, Royal Bank of Canada lifted their price target on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd.

Insiders Place Their Bets

In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the transaction, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the transaction, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gavin Rennick sold 38,083 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total value of $1,838,647.24. Following the transaction, the insider now directly owns 45,851 shares in the company, valued at $2,213,686.28. The disclosure for this sale can be found here. Insiders have sold 106,158 shares of company stock valued at $5,099,893 in the last ninety days. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Hedge funds have recently made changes to their positions in the business. Register Financial Advisors LLC bought a new stake in Schlumberger in the first quarter worth $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in Schlumberger in the fourth quarter worth $26,000. Manchester Capital Management LLC boosted its holdings in Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in Schlumberger in the fourth quarter worth $32,000. Finally, Rational Advisors LLC bought a new stake in Schlumberger in the first quarter worth $35,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Up 0.2 %

Shares of NYSE SLB opened at $46.69 on Wednesday. Schlumberger has a 52 week low of $42.61 and a 52 week high of $62.12. The business has a 50-day simple moving average of $46.63 and a two-hundred day simple moving average of $49.57. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The company has a market cap of $66.74 billion, a P/E ratio of 15.51, a P/E/G ratio of 0.91 and a beta of 1.55.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter last year, the company earned $0.63 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. Research analysts anticipate that Schlumberger will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a $0.275 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Wednesday, June 5th. Schlumberger’s payout ratio is 36.54%.

Schlumberger Company Profile

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.