Schlumberger (NYSE:SLB) Research Coverage Started at Dbs Bank

Dbs Bank began coverage on shares of Schlumberger (NYSE:SLB) in a research report report published on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $64.50 price objective on the oil and gas company’s stock.

A number of other brokerages have also issued reports on SLB. Citigroup decreased their target price on shares of Schlumberger from $65.00 to $62.00 and set a buy rating for the company in a research note on Friday, June 28th. Royal Bank of Canada reissued an outperform rating and set a $69.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. Benchmark reaffirmed a buy rating and issued a $68.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Evercore ISI lifted their price target on Schlumberger from $73.00 to $74.00 and gave the company an outperform rating in a report on Monday, July 22nd. Finally, Piper Sandler lowered their price target on Schlumberger from $71.00 to $66.00 and set an overweight rating for the company in a research note on Monday, July 15th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Schlumberger has a consensus rating of Moderate Buy and a consensus target price of $66.29.

Schlumberger Stock Down 0.8 %

Shares of Schlumberger stock opened at $42.41 on Wednesday. Schlumberger has a 1 year low of $38.66 and a 1 year high of $61.41. The company has a market cap of $60.22 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.86 and a beta of 1.51. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average price of $44.48 and a 200 day moving average price of $47.40.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping 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 business had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. As a group, analysts expect that Schlumberger will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.59%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insiders Place Their Bets

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction dated 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 transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were 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 $12,432,012.81. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the transaction, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Schlumberger

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger during the 1st quarter worth approximately $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 worth $31,000 after acquiring an additional 426 shares during the period. Bruce G. Allen Investments LLC raised its position in shares of Schlumberger by 204.2% during the 2nd 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 during the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Schlumberger in the 4th quarter valued at $32,000. Finally, Unique Wealth Strategies LLC bought a new position in shares of Schlumberger in the 2nd quarter worth $30,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.