Recent Analysts’ Ratings Updates for Schlumberger (SLB)

A number of firms have modified their ratings and price targets on shares of Schlumberger (NYSE: SLB) recently:

• 10/16/2024 – Schlumberger had its price target lowered by analysts at Barclays PLC from $67.00 to $63.00. They now have an “overweight” rating on the stock.
• 10/14/2024 – Schlumberger had its price target lowered by analysts at Bank of America Co. from $58.00 to $54.00. They now have a “buy” rating on the stock.
• 10/11/2024 – Schlumberger had its price target lowered by analysts at Susquehanna from $70.00 to $60.00. They now have a “positive” rating on the stock.
• 10/11/2024 – Schlumberger had its price target lowered by analysts at Stifel Nicolaus from $65.00 to $62.00. They now have a “buy” rating on the stock.
• 10/10/2024 – Schlumberger had its price target lowered by analysts at BMO Capital Markets from $60.00 to $58.00. They now have an “outperform” rating on the stock.
• 10/3/2024 – Schlumberger had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $69.00 price target on the stock.
• 10/1/2024 – Schlumberger had its price target lowered by analysts at JPMorgan Chase & Co. from $64.00 to $60.00. They now have an “overweight” rating on the stock.
• 9/25/2024 – Schlumberger had its price target lowered by analysts at Wells Fargo & Company from $53.00 to $49.00. They now have an “equal weight” rating on the stock.
• 9/18/2024 – Schlumberger is now covered by analysts at Dbs Bank. They set a “buy” rating and a $64.50 price target on the stock.
• 9/18/2024 – Schlumberger had its price target lowered by analysts at UBS Group AG from $63.00 to $57.00. They now have a “buy” rating on the stock.
• 9/16/2024 – Schlumberger had its price target lowered by analysts at Morgan Stanley from $65.00 to $60.00. They now have an “overweight” rating on the stock.

Schlumberger Price Performance

NYSE:SLB opened at $41.92 on Monday. The firm has a market capitalization of $59.92 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 0.96 and a beta of 1.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The business has a 50 day simple moving average of $43.10 and a 200-day simple moving average of $45.95. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $60.85.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same period last year, the company earned $0.78 earnings per share. Schlumberger’s revenue was up 10.2% on a year-over-year basis. Equities analysts forecast that Schlumberger Limited will post 3.46 EPS for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.62%. Schlumberger’s payout ratio is 36.54%.

Institutional Trading of Schlumberger

Several institutional investors have recently added to or reduced their stakes in SLB. Register Financial Advisors LLC purchased a new stake in shares of Schlumberger in the first quarter worth approximately $27,000. Manchester Capital Management LLC increased its stake 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 purchasing an additional 426 shares during the period. Bruce G. Allen Investments LLC lifted its position in shares of Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares during the last quarter. ORG Partners LLC lifted its position in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the last quarter. Finally, Unique Wealth Strategies LLC bought a new position in shares of Schlumberger in the second quarter worth about $30,000. Institutional investors own 81.99% of the company’s stock.

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.