Schlumberger (NYSE:SLB) Research Coverage Started at Piper Sandler

Piper Sandler began coverage on shares of Schlumberger (NYSE:SLB) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm issued a neutral rating and a $47.00 target price on the oil and gas company’s stock.

Several other analysts have also commented on the stock. Barclays cut their price objective on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday. Bank of America dropped their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. UBS Group decreased their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley reduced their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, Dbs Bank initiated coverage on shares of Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective for the company. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.85.

Schlumberger Stock Performance

Shares of NYSE SLB opened at $36.83 on Thursday. The company has a 50 day simple moving average of $42.06 and a two-hundred day simple moving average of $43.75. The stock has a market cap of $52.01 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 1.42 and a beta of 1.51. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger has a 12 month low of $36.52 and a 12 month high of $55.69.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $0.78 EPS. As a group, analysts predict that Schlumberger will post 3.39 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.99%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Large investors have recently bought and sold shares of the stock. State Street Corp boosted its stake in shares of Schlumberger by 0.6% in the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after buying an additional 528,279 shares during the period. Geode Capital Management LLC lifted its stake in Schlumberger by 0.8% in the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock worth $1,195,290,000 after acquiring an additional 239,966 shares during the last quarter. Legal & General Group Plc grew its holdings in Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after acquiring an additional 1,560,684 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after purchasing an additional 1,916,851 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Schlumberger by 1.2% in the 2nd quarter. Van ECK Associates Corp now owns 8,583,818 shares of the oil and gas company’s stock valued at $404,985,000 after purchasing an additional 100,477 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.