Schlumberger Limited (NYSE:SLB) Given Consensus Recommendation of “Buy” by Analysts

Shares of Schlumberger Limited (NYSE:SLB) have received an average rating of “Buy” from the nineteen research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $60.97.

A number of analysts recently weighed in on SLB shares. Citigroup dropped their price objective on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a report on Thursday, October 3rd. Bank of America reduced their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Barclays lowered their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Susquehanna reduced their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st.

Insider Activity

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 transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

A number of hedge funds have recently bought and sold shares of the company. Bruce G. Allen Investments LLC raised its holdings 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 valued at $28,000 after acquiring an additional 392 shares during the period. ORG Partners LLC grew its position in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares in the last quarter. Unique Wealth Strategies LLC acquired a new stake in Schlumberger during the 2nd quarter valued at $30,000. Riverview Trust Co lifted its holdings in shares of Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 308 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Schlumberger in the third quarter worth $29,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Trading Up 0.6 %

NYSE SLB opened at $43.94 on Friday. The firm has a market capitalization of $62.05 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.54 and a beta of 1.52. The company has a 50-day simple moving average of $42.98 and a 200-day simple moving average of $44.41. Schlumberger has a one year low of $38.66 and a one year high of $55.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 EPS. On average, equities analysts forecast that Schlumberger will post 3.39 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.50%. Schlumberger’s payout ratio is currently 35.37%.

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.