Schlumberger Limited (NYSE:SLB) Given Average Recommendation of “Moderate Buy” by Brokerages

Schlumberger Limited (NYSE:SLB) has received a consensus recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $55.81.

A number of research firms recently issued reports on SLB. TD Cowen raised their target price on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Piper Sandler initiated coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. upped their price target on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st.

Schlumberger Stock Down 0.8 %

NYSE:SLB opened at $41.45 on Thursday. The business’s fifty day moving average price is $40.09 and its 200 day moving average price is $42.09. The firm has a market capitalization of $58.07 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 9.49 and a beta of 1.51. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger has a 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS. On average, sell-side analysts forecast that Schlumberger will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.75%. Schlumberger’s payout ratio is presently 36.66%.

Insider Buying and Selling at Schlumberger

In related news, insider Dianne B. Ralston sold 43,161 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the transaction, the insider now directly owns 235,024 shares of the company’s stock, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the transaction, the vice president now directly owns 11,240 shares in the company, valued at $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 263,782 shares of company stock valued at $11,442,229 in the last quarter. 0.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Schlumberger

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Grove Bank & Trust boosted its holdings in shares of Schlumberger by 17.4% during the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after purchasing an additional 224 shares during the period. CX Institutional raised its position in Schlumberger by 2.4% during the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock valued at $398,000 after purchasing an additional 244 shares during the last quarter. GM Advisory Group LLC lifted its holdings in Schlumberger by 3.8% in the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock worth $281,000 after buying an additional 247 shares during the period. TCW Group Inc. grew its position in shares of Schlumberger by 1.3% in the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock worth $759,000 after buying an additional 259 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Schlumberger by 0.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock valued at $2,174,000 after buying an additional 262 shares during the period. Institutional investors own 81.99% of the company’s stock.

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.