Analysts Set Schlumberger Limited (NYSE:SLB) PT at $60.97

Shares of Schlumberger Limited (NYSE:SLB) have been assigned a consensus rating of “Buy” from the nineteen research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $60.97.

A number of equities research analysts recently commented on the company. Citigroup lowered their price target on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. UBS Group dropped their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Morgan Stanley reduced their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. TD Cowen decreased their price target on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Schlumberger

A number of institutional investors have recently made changes to their positions in SLB. ORG Partners LLC raised its position in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares in the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Schlumberger in the third quarter worth $29,000. Unique Wealth Strategies LLC purchased a new stake in Schlumberger during the second quarter valued at about $30,000. Finally, Riverview Trust Co grew its stake in shares of Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 308 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Down 0.7 %

Schlumberger stock opened at $43.63 on Friday. 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 firm’s fifty day moving average price is $42.98 and its two-hundred day moving average price is $44.36. The firm has a market capitalization of $61.61 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 1.55 and a beta of 1.52. Schlumberger has a 1-year low of $38.66 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. On average, equities research analysts predict that Schlumberger will post 3.39 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared 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. This represents a $1.10 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

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.