Stifel Nicolaus Reiterates Buy Rating for Schlumberger (NYSE:SLB)

Stifel Nicolaus restated their buy rating on shares of Schlumberger (NYSE:SLB) in a research report sent to investors on Monday, Benzinga reports. They currently have a $60.00 price objective on the oil and gas company’s stock, down from their prior price objective of $62.00.

A number of other equities research analysts have also recently commented on SLB. Benchmark reissued a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Morgan Stanley decreased their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Piper Sandler dropped their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. UBS Group decreased their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, TD Cowen dropped their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Stock Performance

Shares of SLB stock opened at $41.25 on Monday. The firm has a 50 day moving average of $43.00 and a 200-day moving average of $45.75. The company has a market cap of $58.96 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 1.48 and a beta of 1.51. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger has a 52 week low of $38.66 and a 52 week high of $57.75.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share. On average, equities analysts forecast that Schlumberger will post 3.41 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger 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 completion of the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Register Financial Advisors LLC purchased a new position in shares of Schlumberger in the first quarter valued at $27,000. Manchester Capital Management LLC grew its holdings in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares in the last quarter. Bruce G. Allen Investments LLC increased its position 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 buying an additional 392 shares during the period. ORG Partners LLC lifted its holdings in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after buying an additional 484 shares in the last quarter. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of Schlumberger in the second quarter worth about $30,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

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.