Schlumberger Limited (NYSE:SLB) Receives $56.03 Consensus Price Target from Brokerages

Schlumberger Limited (NYSE:SLB) has received a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $55.81.

Several equities analysts have recently issued reports on the company. BMO Capital Markets reduced their target price on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Evercore ISI restated an “in-line” rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Susquehanna decreased their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Finally, Citigroup lifted their price objective on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday.

Schlumberger Trading Up 0.9 %

NYSE:SLB opened at $41.99 on Friday. The firm has a market capitalization of $59.29 billion, a P/E ratio of 13.50, a P/E/G ratio of 3.58 and a beta of 1.52. Schlumberger has a 52 week low of $36.52 and a 52 week high of $55.69. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $40.79 and a 200 day moving average of $42.79.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9,241,140 billion. During the same period in the prior year, the business posted $0.86 earnings per share. Schlumberger’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts predict that Schlumberger will post 3.33 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a $0.285 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s payout ratio is presently 35.37%.

Insider Buying and Selling at Schlumberger

In other news, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dianne B. Ralston sold 43,161 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the transaction, the insider now owns 235,024 shares in the company, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,258 shares of company stock worth $8,732,604. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Several hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. lifted its holdings in Schlumberger by 12,289.6% in the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after acquiring an additional 12,938,082 shares during the period. 1832 Asset Management L.P. bought a new position in shares of Schlumberger in the 2nd quarter worth approximately $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Schlumberger by 20.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after buying an additional 1,916,851 shares during the period. Legal & General Group Plc increased its holdings in Schlumberger by 14.0% during the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after buying an additional 1,560,684 shares during the last quarter. Finally, Merewether Investment Management LP bought a new position in Schlumberger in the second quarter worth approximately $42,957,000. 81.99% of the stock is 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.