Schlumberger (SLB) – Investment Analysts’ Weekly Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Schlumberger (NYSE: SLB) in the last few weeks:

• 9/25/2024 – Schlumberger had its price target lowered by analysts at Wells Fargo & Company from $53.00 to $49.00. They now have an “equal weight” rating on the stock.
• 9/18/2024 – Schlumberger is now covered by analysts at Dbs Bank. They set a “buy” rating and a $64.50 price target on the stock.
• 9/18/2024 – Schlumberger had its price target lowered by analysts at UBS Group AG from $63.00 to $57.00. They now have a “buy” rating on the stock.
• 9/16/2024 – Schlumberger had its price target lowered by analysts at Morgan Stanley from $65.00 to $60.00. They now have an “overweight” rating on the stock.
• 8/20/2024 – Schlumberger had its price target lowered by analysts at UBS Group AG from $67.00 to $63.00. They now have a “buy” rating on the stock.

Schlumberger Price Performance

NYSE SLB traded up $0.03 during midday trading on Monday, hitting $42.32. The company had a trading volume of 2,416,975 shares, compared to its average volume of 10,974,400. The company has a market capitalization of $60.09 billion, a PE ratio of 14.06, a P/E/G ratio of 0.92 and a beta of 1.51. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $61.20. 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 firm has a 50-day moving average price of $43.83 and a 200-day moving average price of $47.04.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data 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 firm had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same period in the prior year, the company posted $0.72 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, analysts anticipate that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.60%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s payout ratio is presently 36.54%.

Insider Activity

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction that occurred 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 sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of 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. In the last quarter, insiders have sold 180,716 shares of company stock worth $9,048,624. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

A number of institutional investors have recently added to or reduced their stakes in the business. Carolinas Wealth Consulting LLC grew its stake in shares of Schlumberger by 53.5% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 683 shares during the last quarter. Crescent Grove Advisors LLC bought a new position in shares of Schlumberger during the second quarter worth about $257,000. National Bank of Canada FI lifted its stake in shares of 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 acquiring an additional 51,637 shares during the period. Mission Wealth Management LP bought a new stake in Schlumberger in the first quarter valued at approximately $245,000. Finally, Public Sector Pension Investment Board increased its position in Schlumberger by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after purchasing an additional 11,813 shares during the period. 81.99% of the stock is owned by institutional investors.

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.