Analysts Set Schlumberger Limited (NYSE:SLB) Target Price at $58.79

Schlumberger Limited (NYSE:SLB) has received a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $58.79.

A number of equities research analysts have recently weighed in on the company. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. BMO Capital Markets dropped their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Piper Sandler started coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Bank of America lowered their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Dbs Bank initiated coverage on shares of Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target on the stock.

Insider Activity

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

Institutional Trading of Schlumberger

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its stake in shares of Schlumberger by 1,000.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 848,815 shares of the oil and gas company’s stock worth $40,047,000 after purchasing an additional 771,647 shares in the last quarter. Atomi Financial Group Inc. raised its stake in shares of Schlumberger by 8.6% in the second quarter. Atomi Financial Group Inc. now owns 7,847 shares of the oil and gas company’s stock worth $370,000 after buying an additional 623 shares during the period. Miller Howard Investments Inc. NY lifted its position in shares of Schlumberger by 1.7% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 32,817 shares of the oil and gas company’s stock valued at $1,548,000 after buying an additional 544 shares in the last quarter. 1834 Investment Advisors Co. grew its stake in shares of Schlumberger by 10.5% during the 2nd quarter. 1834 Investment Advisors Co. now owns 9,776 shares of the oil and gas company’s stock valued at $461,000 after acquiring an additional 927 shares during the period. Finally, HB Wealth Management LLC increased its holdings in Schlumberger by 1.3% in the 2nd quarter. HB Wealth Management LLC now owns 21,815 shares of the oil and gas company’s stock worth $1,029,000 after acquiring an additional 287 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

Shares of NYSE SLB opened at $37.80 on Wednesday. The stock has a market cap of $53.38 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 1.42 and a beta of 1.51. The stock’s 50-day moving average is $41.48 and its 200 day moving average is $43.53. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger has a 1-year low of $36.52 and a 1-year high of $55.69.

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

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th 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 2.91%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is presently 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.