Schlumberger Limited (NYSE:SLB) Receives $67.00 Average Price Target from Brokerages

Shares of Schlumberger Limited (NYSE:SLB) have earned an average recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $66.29.

A number of analysts have recently issued reports on SLB shares. Dbs Bank started coverage on shares of Schlumberger in a research note on Wednesday. They set a “buy” rating and a $64.50 price objective on the stock. Susquehanna dropped their price objective on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research note on Thursday, July 11th. Morgan Stanley dropped their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock 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. Finally, Barclays dropped their price objective on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd.

Schlumberger Trading Down 0.8 %

NYSE SLB opened at $42.41 on Monday. Schlumberger has a one year low of $38.66 and a one year high of $61.41. The company’s 50 day moving average price is $44.48 and its 200 day moving average price is $47.40. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The firm has a market capitalization of $60.22 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.86 and a beta of 1.51.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same quarter last year, the firm posted $0.72 earnings per share. Schlumberger’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, sell-side analysts predict 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. Shareholders 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 yield of 2.59%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio is presently 36.54%.

Insiders Place Their Bets

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction 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 transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the transaction, 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 filing with the SEC, which is accessible through this hyperlink. Also, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the transaction, the chief financial officer now directly 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. Insiders sold a total of 180,716 shares of company stock valued at $9,048,624 over the last 90 days. 0.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On Schlumberger

Hedge funds and other institutional investors have recently modified their holdings of the company. Carolinas Wealth Consulting LLC boosted its holdings in shares of Schlumberger by 53.5% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock valued at $102,000 after acquiring an additional 683 shares during the period. Crescent Grove Advisors LLC acquired a new stake in Schlumberger in the second quarter worth about $257,000. National Bank of Canada FI lifted its holdings in Schlumberger by 15.0% in the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after purchasing an additional 51,637 shares during the period. Mission Wealth Management LP acquired a new stake in Schlumberger in the first quarter worth about $245,000. Finally, Canada Pension Plan Investment Board lifted its holdings in Schlumberger by 9.0% in the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after purchasing an additional 64,974 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

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.