Schlumberger (SLB) – Analysts’ Weekly Ratings Changes

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

• 10/22/2024 – Schlumberger had its price target lowered by analysts at Citigroup Inc. from $60.00 to $54.00. They now have a “buy” rating on the stock.
• 10/21/2024 – Schlumberger had its price target lowered by analysts at Susquehanna from $60.00 to $56.00. They now have a “positive” rating on the stock.
• 10/21/2024 – Schlumberger had its price target lowered by analysts at Evercore ISI from $74.00 to $62.00. They now have an “outperform” rating on the stock.
• 10/21/2024 – Schlumberger had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $60.00 price target on the stock, down previously from $62.00.
• 10/21/2024 – Schlumberger had its price target lowered by analysts at TD Cowen from $68.00 to $65.00. They now have a “buy” rating on the stock.
• 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 Trading Down 1.1 %

Shares of SLB traded down $0.47 during trading hours on Friday, reaching $42.77. 6,317,003 shares of the company traded hands, compared to its average volume of 11,247,238. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. The firm has a market cap of $60.40 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.54 and a beta of 1.52. The stock’s fifty day moving average price is $42.25 and its 200 day moving average price is $44.96. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. Sell-side analysts forecast that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SLB. Manchester Capital Management LLC boosted its stake in shares of 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 buying an additional 426 shares during the last quarter. Bruce G. Allen Investments LLC lifted its stake in shares of Schlumberger by 204.2% in the 2nd 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 during the period. ORG Partners LLC boosted its holdings in 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 buying an additional 484 shares in the last quarter. Unique Wealth Strategies LLC acquired a new stake in Schlumberger during the second quarter valued at $30,000. Finally, Riverview Trust Co increased its holdings in Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 308 shares in the last quarter. Hedge funds and other 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.