Schlumberger (NYSE:SLB) Shares Up 1.1% – Time to Buy?

Schlumberger Limited (NYSE:SLB) shares rose 1.1% during mid-day trading on Wednesday . The stock traded as high as $43.54 and last traded at $43.42. Approximately 1,404,464 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 10,986,517 shares. The stock had previously closed at $42.95.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SLB shares. Piper Sandler reduced their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Bank of America lowered their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday. Wells Fargo & Company decreased their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Barclays dropped their target price on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Finally, Evercore ISI boosted their price target on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $63.19.

Schlumberger Stock Up 1.4 %

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The company’s 50-day moving average price is $43.11 and its 200 day moving average price is $46.20. The stock has a market capitalization of $61.86 billion, a P/E ratio of 14.19, a P/E/G ratio of 0.96 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. The business had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. As a group, equities analysts expect that Schlumberger Limited will post 3.47 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend was Wednesday, September 4th. Schlumberger’s dividend payout ratio is 35.95%.

Insider Buying and Selling

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 180,716 shares of company stock worth $9,048,624. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Several hedge funds have recently made changes to their positions in SLB. ORG Partners LLC grew its holdings in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in shares of Schlumberger in the 1st quarter worth approximately $27,000. Bruce G. Allen Investments LLC boosted its stake 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 valued at $28,000 after purchasing an additional 392 shares in the last quarter. Unique Wealth Strategies LLC purchased a new position in Schlumberger during the second quarter valued at approximately $30,000. Finally, Manchester Capital Management LLC increased its holdings in Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

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.