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

Shares of Schlumberger Limited (NYSE:SLBGet Free Report) have been assigned an average recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $69.06.

A number of equities research analysts recently commented on SLB shares. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday. Susquehanna reaffirmed a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. TD Cowen cut their price target on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Barclays cut their price target on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, April 22nd.

Check Out Our Latest Analysis on SLB

Insider Activity at Schlumberger

In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the transaction, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Gavin Rennick sold 38,083 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the transaction, the insider now directly owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total value of $3,044,964.70. Following the transaction, the chief technology officer now directly owns 33,421 shares in the company, valued at $1,612,897.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,158 shares of company stock valued at $5,099,893. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Hedge funds have recently made changes to their positions in the company. Capital World Investors boosted its holdings in Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after acquiring an additional 37,333,485 shares in the last quarter. Norges Bank bought a new position in Schlumberger in the fourth quarter valued at about $1,000,292,000. Price T Rowe Associates Inc. MD raised its stake in shares of Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after buying an additional 10,606,191 shares during the period. Winslow Capital Management LLC raised its stake in shares of Schlumberger by 123,063.5% in the fourth quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock worth $226,253,000 after buying an additional 4,344,141 shares during the period. Finally, Boston Partners raised its stake in shares of Schlumberger by 35.8% in the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after buying an additional 3,069,395 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Price Performance

Schlumberger stock opened at $44.57 on Friday. The stock has a market capitalization of $63.71 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 0.83 and a beta of 1.57. Schlumberger has a 52-week low of $42.77 and a 52-week high of $62.12. The stock’s 50 day moving average price is $49.02 and its two-hundred day moving average price is $50.22. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37.

Schlumberger (NYSE:SLBGet Free Report) last posted its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. During the same period in the prior year, the business earned $0.63 EPS. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities analysts predict that Schlumberger will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.47%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

About Schlumberger

(Get Free Report

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.

Further Reading

Analyst Recommendations for Schlumberger (NYSE:SLB)

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