Schlumberger Limited (NYSE:SLB) Given Average Rating of “Moderate Buy” by Analysts

Schlumberger Limited (NYSE:SLB) has received an average rating of “Moderate Buy” from the twenty-two brokerages that are presently covering the company, MarketBeat Ratings reports. Five 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. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $56.03.

Several brokerages recently issued reports on SLB. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Piper Sandler assumed coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Evercore ISI restated an “in-line” rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Wednesday. Bank of America dropped their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, 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.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. ORG Partners LLC grew its stake in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after buying an additional 484 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Schlumberger in the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Schlumberger in the third quarter valued at approximately $37,000. DiNuzzo Private Wealth Inc. raised its holdings in shares of Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new position in shares of Schlumberger during the third quarter worth approximately $47,000. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Performance

NYSE:SLB opened at $43.58 on Friday. The firm’s fifty day simple moving average is $40.86 and its 200-day simple moving average is $42.90. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The stock has a market cap of $61.54 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. Schlumberger has a fifty-two week low of $36.52 and a fifty-two week high of $55.69.

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

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.62%. Schlumberger’s payout ratio is currently 35.37%.

About Schlumberger

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.