Schlumberger (NYSE:SLB) Trading 1.4% Higher – Still a Buy?

Schlumberger Limited (NYSE:SLB) shares shot up 1.4% during trading on Tuesday . The stock traded as high as $44.97 and last traded at $44.89. 3,131,912 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 11,247,750 shares. The stock had previously closed at $44.29.

Wall Street Analyst Weigh In

SLB has been the subject of several recent research reports. Piper Sandler dropped their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. UBS Group lowered their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Barclays cut their price target on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Susquehanna dropped their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Stock Up 0.1 %

The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $62.61 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 1.52 and a beta of 1.52. The stock has a 50 day moving average of $42.22 and a 200 day moving average of $44.80.

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

Schlumberger Dividend Announcement

The firm 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 $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. ORG Partners LLC lifted 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 worth $25,000 after acquiring an additional 484 shares during the period. Bruce G. Allen Investments LLC boosted its stake in 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 buying an additional 392 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Schlumberger during the third quarter worth about $29,000. Unique Wealth Strategies LLC acquired a new stake in Schlumberger in the 2nd quarter valued at about $30,000. Finally, Riverview Trust Co boosted its position in shares of Schlumberger by 90.6% during the 2nd 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. 81.99% of the stock is currently owned by institutional investors.

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.