Schlumberger’s (SLB) “In-Line” Rating Reiterated at Evercore ISI

Evercore ISI reaffirmed their in-line rating on shares of Schlumberger (NYSE:SLB) in a report published on Wednesday, Marketbeat Ratings reports. Evercore ISI currently has a $44.00 target price on the oil and gas company’s stock, down from their prior target price of $62.00.

Other research analysts have also issued reports about the stock. Piper Sandler assumed coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Jefferies Financial Group cut their target price on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Citigroup reduced their target price on shares of Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Dbs Bank initiated coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target on the stock. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus price target of $56.03.

Schlumberger Trading Up 6.1 %

Shares of SLB opened at $43.58 on Wednesday. The stock’s fifty day simple moving average is $40.85 and its 200 day simple moving average is $42.92. The firm has a market capitalization of $61.54 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. Schlumberger has a twelve month low of $36.52 and a twelve month high of $55.69. 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 (NYSE:SLB) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9,241,140 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 EPS. On average, equities research analysts forecast that Schlumberger will post 3.39 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 2.62%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were 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 directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % 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 the SEC website. 0.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Schlumberger

Several large investors have recently bought and sold shares of the company. ORG Partners LLC raised its stake in shares of Schlumberger by 393.5% in the 3rd 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. Prospera Private Wealth LLC bought a new position in shares of Schlumberger during the third quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new stake in Schlumberger in the 3rd quarter valued at approximately $37,000. DiNuzzo Private Wealth Inc. raised its position in Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP bought a new stake in Schlumberger in the 3rd quarter valued at approximately $47,000. 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.