Schlumberger Limited (NYSE:SLB) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Schlumberger Limited (NYSE:SLB) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-two research firms that are presently covering the stock, MarketBeat.com reports. Five investment 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 1-year price target among analysts that have covered the stock in the last year is $55.81.

Several analysts recently issued reports on SLB shares. JPMorgan Chase & Co. lifted their price target on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Stifel Nicolaus dropped their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Jefferies Financial Group dropped their price target on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Piper Sandler started coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st.

Insider Activity

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the sale, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the sale, the director now owns 49,595 shares in the company, valued at $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 290,772 shares of company stock valued at $12,546,660 in the last 90 days. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Hedge funds have recently made changes to their positions in the business. Prospera Private Wealth LLC purchased a new stake in Schlumberger in the 3rd quarter worth about $29,000. YANKCOM Partnership bought a new position in Schlumberger in the 4th quarter valued at $31,000. Stonebridge Financial Group LLC purchased a new stake in Schlumberger in the fourth quarter worth $32,000. Golden State Wealth Management LLC bought a new stake in shares of Schlumberger during the fourth quarter worth $34,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Schlumberger in the 3rd quarter valued at about $37,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Trading Up 4.0 %

Shares of SLB opened at $41.36 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The firm has a market cap of $56.25 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 10.10 and a beta of 1.47. Schlumberger has a 52-week low of $36.52 and a 52-week high of $55.69. The business’s fifty day moving average is $40.73 and its 200-day moving average is $41.63.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same period in the prior year, the company posted $0.86 EPS. The company’s revenue was up 3.3% on a year-over-year basis. Equities analysts anticipate that Schlumberger will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a $0.285 dividend. 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 2.76%. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

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.