Schlumberger Limited (NYSE:SLB) Receives $58.79 Average Target Price from Brokerages

Schlumberger Limited (NYSE:SLB) has earned a consensus recommendation of “Moderate Buy” from the twenty-one ratings firms that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $58.79.

Several research firms have recently commented on SLB. Stifel Nicolaus lowered their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Piper Sandler started coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target on the stock. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, Citigroup reduced their price target on Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, December 19th.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Schlumberger

A number of institutional investors have recently bought and sold shares of the business. ORG Partners LLC lifted its position in shares of Schlumberger by 393.5% in 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 in the last quarter. Prospera Private Wealth LLC acquired a new position in Schlumberger in the 3rd quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new stake in Schlumberger in the 3rd quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. lifted its position in Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after buying an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in shares of Schlumberger during the 3rd quarter valued at $47,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Price Performance

SLB opened at $37.80 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $41.48 and its 200 day moving average price is $43.51. Schlumberger has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The firm has a market cap of $53.38 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 1.42 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced 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. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business’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, sell-side analysts expect that Schlumberger will post 3.39 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

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.