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

Shares of Schlumberger Limited (NYSE:SLB) have been given a consensus rating of “Moderate Buy” by the twenty ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $52.44.

Several analysts recently issued reports on the stock. Piper Sandler reduced their price objective on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Stifel Nicolaus decreased their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, April 28th. Barclays lowered their target price on Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Jefferies Financial Group reduced their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Finally, Susquehanna cut their target price on shares of Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a research note on Monday, April 28th.

Schlumberger Stock Down 0.3%

Shares of NYSE SLB opened at $33.66 on Friday. The firm has a market cap of $45.79 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06. The company’s 50-day simple moving average is $36.08 and its 200-day simple moving average is $39.36. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. Schlumberger has a 52-week low of $31.11 and a 52-week high of $50.94.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.64 billion. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. Equities analysts predict that Schlumberger will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.39%. Schlumberger’s payout ratio is 38.64%.

Insider Activity

In related news, insider Gavin Rennick sold 26,990 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the sale, the insider now owns 53,584 shares in the company, valued at approximately $2,192,657.28. This trade represents a 33.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares of the company’s stock, valued at $1,311,990.68. This trade represents a 44.75% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Several institutional investors have recently bought and sold shares of the business. CX Institutional increased its position in shares of Schlumberger by 2.4% during the fourth 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 period. TCW Group Inc. increased its position in shares of Schlumberger by 1.3% during the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock worth $759,000 after purchasing an additional 259 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Schlumberger by 0.5% during the 4th 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 purchasing an additional 262 shares during the last quarter. Vident Advisory LLC boosted its position in Schlumberger by 1.0% in the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company’s stock valued at $1,067,000 after buying an additional 273 shares in the last quarter. Finally, Glen Eagle Advisors LLC grew its stake in Schlumberger by 3.7% during the fourth quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company’s stock worth $301,000 after buying an additional 282 shares during the last quarter. 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.