Schlumberger’s (SLB) Buy Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus reissued their buy rating on shares of Schlumberger (NYSE:SLB) in a research report report published on Monday, Benzinga reports. The brokerage currently has a $60.00 price objective on the oil and gas company’s stock, down from their prior price objective of $62.00.

SLB has been the subject of several other research reports. JPMorgan Chase & Co. cut their target price on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. TD Cowen cut their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday. Citigroup dropped their target price on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Dbs Bank began coverage on shares of Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target on the stock. Finally, Piper Sandler dropped their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Stock Performance

NYSE:SLB opened at $42.13 on Monday. The stock has a 50-day simple moving average of $43.00 and a two-hundred day simple moving average of $45.75. The firm has a market capitalization of $59.82 billion, a PE ratio of 13.55, a P/E/G ratio of 1.27 and a beta of 1.51. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. Schlumberger has a 52-week low of $38.66 and a 52-week high of $59.05.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the previous year, the company earned $0.78 EPS. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts forecast that Schlumberger will post 3.44 EPS for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.61%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Hedge Funds Weigh In On Schlumberger

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Schlumberger by 1.4% during the first quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock valued at $7,352,771,000 after buying an additional 1,868,688 shares during the period. Capital World Investors boosted its holdings in Schlumberger by 72.3% during the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after acquiring an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD grew its position in Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after acquiring an additional 10,606,191 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Schlumberger by 14.0% during the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after purchasing an additional 1,560,684 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of Schlumberger by 35.8% during the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after purchasing an additional 3,069,395 shares during the period. 81.99% of the stock is currently owned by institutional investors.

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.