Schlumberger Limited (NYSE:SLB) Receives $60.97 Consensus PT from Analysts

Schlumberger Limited (NYSE:SLB) has received an average recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $60.97.

A number of equities analysts have recently weighed in on SLB shares. TD Cowen cut their price target on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. JPMorgan Chase & Co. reduced their target price on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Evercore ISI lowered their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Dbs Bank started coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective on the stock. Finally, Citigroup lowered their target price on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd.

Schlumberger Stock Performance

NYSE:SLB opened at $43.24 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $61.06 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52. The firm has a 50-day moving average price of $42.25 and a two-hundred day moving average price of $44.96. Schlumberger has a twelve month low of $38.66 and a twelve month high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same period last year, the company posted $0.78 EPS. The company’s revenue was up 10.2% on a year-over-year basis. As a group, research analysts expect that Schlumberger will post 3.4 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is currently 35.37%.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the sale, the executive vice president now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Several institutional investors and hedge funds have recently modified their holdings of SLB. Manchester Capital Management LLC boosted its holdings in Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares during the period. Bruce G. Allen Investments LLC lifted its position in shares of Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares in the last quarter. ORG Partners LLC boosted its stake in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares during the period. Unique Wealth Strategies LLC acquired a new stake in Schlumberger during the 2nd quarter valued at $30,000. Finally, Riverview Trust Co increased its stake in Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after buying an additional 308 shares during the period. Hedge funds and other 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.