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

Schlumberger Limited (NYSE:SLB) has been assigned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $67.56.

Several research analysts recently issued reports on the stock. Piper Sandler decreased their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Bank of America reduced their price target on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a report on Monday, July 15th. Finally, Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd.

Schlumberger Stock Down 3.7 %

Shares of NYSE:SLB opened at $44.93 on Friday. The stock has a market capitalization of $63.79 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 0.99 and a beta of 1.55. The stock’s 50-day moving average price is $46.31 and its 200-day moving average price is $48.91. Schlumberger has a 12-month low of $42.61 and a 12-month high of $62.12. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities analysts anticipate that Schlumberger will post 3.49 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.45%. Schlumberger’s payout ratio is 36.54%.

Insider Buying and Selling

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 286,874 shares of company stock worth $14,148,517. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SLB. Turtle Creek Wealth Advisors LLC bought a new position in shares of Schlumberger in the fourth quarter worth about $26,000. Register Financial Advisors LLC purchased a new position in shares of Schlumberger during the first quarter worth approximately $27,000. Bruce G. Allen Investments LLC raised its stake 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 in the last quarter. Unique Wealth Strategies LLC purchased a new stake in shares of Schlumberger in the second quarter valued at approximately $30,000. Finally, Manchester Capital Management LLC grew its stake in Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares in the last quarter. 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.