Schlumberger Limited (NYSE:SLB) Receives $60.97 Consensus Target Price from Brokerages

Schlumberger Limited (NYSE:SLB) has been given a consensus recommendation of “Moderate Buy” by the eighteen ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $60.97.

Several equities analysts have commented on the stock. Morgan Stanley dropped 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. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a report on Thursday, October 3rd. UBS Group reduced their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Bank of America lowered their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Citigroup decreased their price target on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd.

Schlumberger Price Performance

SLB stock opened at $43.24 on Tuesday. The business’s fifty day moving average price is $42.25 and its 200 day moving average price is $44.96. Schlumberger has a 12-month low of $38.66 and a 12-month high of $55.69. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $61.06 billion, a PE ratio of 13.90, a P/E/G ratio of 1.42 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 earnings per share. On average, sell-side analysts anticipate that Schlumberger will post 3.4 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.54%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Schlumberger

Several large investors have recently modified their holdings of the stock. Fifth Third Wealth Advisors LLC lifted its stake in shares of Schlumberger by 5.0% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 23,500 shares of the oil and gas company’s stock worth $986,000 after acquiring an additional 1,125 shares during the period. Prospera Financial Services Inc lifted its position in Schlumberger by 1.9% in the third quarter. Prospera Financial Services Inc now owns 31,811 shares of the oil and gas company’s stock valued at $1,335,000 after purchasing an additional 594 shares during the period. Knuff & Co LLC boosted its holdings in Schlumberger by 10.6% in the 3rd quarter. Knuff & Co LLC now owns 9,810 shares of the oil and gas company’s stock valued at $412,000 after purchasing an additional 940 shares in the last quarter. Pathstone Holdings LLC increased its position in Schlumberger by 3.6% during the 3rd quarter. Pathstone Holdings LLC now owns 148,635 shares of the oil and gas company’s stock worth $6,240,000 after purchasing an additional 5,105 shares during the period. Finally, Islay Capital Management LLC lifted its holdings in shares of Schlumberger by 4,952.4% in the 3rd quarter. Islay Capital Management LLC now owns 26,525 shares of the oil and gas company’s stock valued at $1,113,000 after buying an additional 26,000 shares during the period. Hedge funds and other institutional investors 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.