Schlumberger (NYSE:SLB) Shares Up 2.1% – Should You Buy?

Schlumberger Limited (NYSE:SLB)’s stock price was up 2.1% during trading on Friday . The stock traded as high as $42.16 and last traded at $42.13. Approximately 2,893,018 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 11,079,968 shares. The stock had previously closed at $41.25.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SLB shares. Barclays lowered their price objective on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Susquehanna lowered their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Benchmark reissued a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Piper Sandler lowered their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Finally, Bank of America reduced their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Price Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The stock has a market capitalization of $59.66 billion, a P/E ratio of 13.87, a PEG ratio of 1.48 and a beta of 1.51. The stock’s fifty day moving average is $42.86 and its 200-day moving average is $45.64.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the prior year, the company posted $0.78 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. On average, equities analysts anticipate that Schlumberger Limited will post 3.41 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 36.54%.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Schlumberger

A number of institutional investors have recently made changes to their positions in the business. Brookstone Capital Management acquired a new position in shares of Schlumberger during the first quarter worth approximately $1,758,000. Wealthcare Advisory Partners LLC increased its position in Schlumberger by 15.4% during the first quarter. Wealthcare Advisory Partners LLC now owns 7,242 shares of the oil and gas company’s stock worth $397,000 after acquiring an additional 965 shares during the period. Register Financial Advisors LLC acquired a new position in Schlumberger during the 1st quarter valued at $27,000. Hennion & Walsh Asset Management Inc. boosted its holdings in Schlumberger by 37.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 49,475 shares of the oil and gas company’s stock valued at $2,712,000 after purchasing an additional 13,488 shares during the period. Finally, LVW Advisors LLC acquired a new stake in Schlumberger in the 1st quarter worth $203,000. 81.99% of the stock is currently owned by institutional investors.

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.