Schlumberger Limited (NYSE:SLB) Receives $56.03 Consensus Price Target from Brokerages

Shares of Schlumberger Limited (NYSE:SLB) have received a consensus recommendation of “Moderate Buy” from the twenty-two ratings firms that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $55.81.

Several analysts have recently commented on SLB shares. Bank of America reduced their price objective 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. TD Cowen increased their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday. Piper Sandler began coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. Susquehanna cut 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. Finally, Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th.

Insiders Place Their Bets

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now directly owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the sale, the vice president now directly owns 11,240 shares in the company, valued at approximately $496,808. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 258,258 shares of company stock valued at $11,246,604. Insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

A number of hedge funds and other institutional investors have recently made changes to their positions in SLB. Teachers Retirement System of The State of Kentucky grew its holdings in Schlumberger by 25.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock valued at $31,961,000 after buying an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after purchasing an additional 16,350 shares during the period. Victory Capital Management Inc. raised its position in shares of Schlumberger by 8.7% in the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after buying an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC grew its position in Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after buying an additional 14,376 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in shares of Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after acquiring an additional 11,813 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Up 0.4 %

Schlumberger stock opened at $43.76 on Friday. Schlumberger has a 52-week low of $36.52 and a 52-week high of $55.69. 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 50 day moving average price of $40.84 and a two-hundred day moving average price of $42.81. The firm has a market cap of $61.80 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 3.61 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9,241,140 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 earnings per share. Equities analysts predict that Schlumberger will post 3.29 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

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.