Schlumberger Limited (NYSE:SLB) Given Average Rating of “Moderate Buy” by Analysts

Schlumberger Limited (NYSE:SLB) has been given a consensus rating of “Moderate Buy” by the eighteen research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $67.56.

SLB has been the topic of a number of analyst reports. Wells Fargo & Company downgraded shares of Schlumberger from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $68.00 to $53.00 in a report on Monday, April 29th. Piper Sandler reduced their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Bank of America cut their target price on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Finally, Susquehanna cut their price objective on Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research report on Thursday, July 11th.

Insider Buying and Selling at Schlumberger

In other news, CTO Demosthenis Pafitis sold 63,095 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the transaction, the chief technology officer now owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the transaction, the chief technology officer now owns 33,421 shares in the company, valued at approximately $1,612,897.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the 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 owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 286,874 shares of company stock valued at $14,148,517. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. 9258 Wealth Management LLC raised its position in shares of Schlumberger by 7.4% during the second quarter. 9258 Wealth Management LLC now owns 6,319 shares of the oil and gas company’s stock valued at $298,000 after buying an additional 434 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in Schlumberger by 3.9% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 1,509,680 shares of the oil and gas company’s stock valued at $71,227,000 after acquiring an additional 57,273 shares during the last quarter. First Business Financial Services Inc. grew its position in shares of Schlumberger by 1.9% during the second quarter. First Business Financial Services Inc. now owns 32,980 shares of the oil and gas company’s stock valued at $1,556,000 after purchasing an additional 604 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Schlumberger by 22.8% in the second quarter. National Bank of Canada FI now owns 486,864 shares of the oil and gas company’s stock worth $22,686,000 after purchasing an additional 90,482 shares during the last quarter. Finally, Hohimer Wealth Management LLC purchased a new stake in shares of Schlumberger in the second quarter worth about $4,882,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Down 3.7 %

Shares of SLB opened at $44.93 on Friday. The stock’s 50-day moving average price is $46.31 and its two-hundred 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 market capitalization of $63.79 billion, a PE ratio of 14.93, a PEG ratio of 0.99 and a beta of 1.55. 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 released its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter last year, the firm posted $0.72 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. On average, analysts anticipate that Schlumberger will post 3.49 EPS for the current year.

Schlumberger Dividend Announcement

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

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.