Schlumberger Limited (NYSE:SLB) Receives Average Recommendation of “Buy” from Brokerages

Schlumberger Limited (NYSE:SLBGet Rating) has been given a consensus recommendation of “Buy” by the twenty-four research firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $46.51.

A number of analysts have recently issued reports on SLB shares. JPMorgan Chase & Co. raised their target price on shares of Schlumberger from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, January 24th. HSBC upgraded shares of Schlumberger from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $4.60 to $44.20 in a research note on Wednesday, April 27th. Morgan Stanley lifted their price objective on shares of Schlumberger from $43.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, April 11th. BNP Paribas upgraded shares of Schlumberger from a “neutral” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Wednesday, January 26th. Finally, Zacks Investment Research cut shares of Schlumberger from a “buy” rating to a “hold” rating and set a $44.00 price objective for the company. in a research note on Tuesday, March 15th.

In other news, VP Claudia Jaramillo sold 11,628 shares of the business’s stock in a transaction that occurred on Wednesday, March 30th. The shares were sold at an average price of $43.00, for a total value of $500,004.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Vijay Kasibhatla sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $43.32, for a total transaction of $866,400.00. Following the completion of the transaction, the director now owns 46,529 shares in the company, valued at approximately $2,015,636.28. The disclosure for this sale can be found here. Insiders have sold a total of 14,552,336 shares of company stock worth $226,913,662 over the last three months. Insiders own 0.28% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Equitec Proprietary Markets LLC acquired a new position in shares of Schlumberger in the 4th quarter worth approximately $25,000. Sugarloaf Wealth Management LLC lifted its position in shares of Schlumberger by 1,059.6% during the 1st quarter. Sugarloaf Wealth Management LLC now owns 603 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 551 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Schlumberger during the 1st quarter valued at $25,000. JFS Wealth Advisors LLC lifted its position in shares of Schlumberger by 95.6% during the 1st quarter. JFS Wealth Advisors LLC now owns 618 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 302 shares during the period. Finally, WD Rutherford LLC acquired a new position in shares of Schlumberger during the 1st quarter valued at $26,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

NYSE SLB opened at $40.85 on Friday. The firm has a 50-day moving average of $41.08 and a 200-day moving average of $37.09. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.24. The stock has a market cap of $57.74 billion, a PE ratio of 27.79 and a beta of 1.91. Schlumberger has a 52-week low of $25.90 and a 52-week high of $46.27.

Schlumberger (NYSE:SLBGet Rating) last posted its earnings results on Friday, April 22nd. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.90 billion. Schlumberger had a net margin of 8.84% and a return on equity of 14.02%. Schlumberger’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 EPS. As a group, analysts predict that Schlumberger will post 1.85 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 14th. Shareholders of record on Wednesday, June 1st will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.71%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, May 31st. Schlumberger’s payout ratio is presently 34.01%.

Schlumberger Company Profile (Get Rating)

Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

Further Reading

Analyst Recommendations for Schlumberger (NYSE:SLB)

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