Schlumberger (NYSE:SLB) Coverage Initiated at Piper Sandler

Piper Sandler began coverage on shares of Schlumberger (NYSE:SLB) in a research report report published on Thursday, MarketBeat Ratings reports. The firm issued a neutral rating and a $47.00 target price on the oil and gas company’s stock.

Several other analysts also recently weighed in on SLB. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Bank of America reduced their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Susquehanna decreased their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. JPMorgan Chase & Co. cut their target price on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Finally, Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.85.

Schlumberger Stock Down 0.2 %

SLB stock opened at $36.83 on Thursday. The stock has a market cap of $52.01 billion, a P/E ratio of 11.84, a PEG ratio of 1.42 and a beta of 1.51. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger has a twelve month low of $36.52 and a twelve month high of $55.69. The company’s 50 day moving average is $42.06 and its two-hundred day moving average is $43.75.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period last year, the business earned $0.78 EPS. Schlumberger’s revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts expect that Schlumberger will post 3.39 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared 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 2.99%. Schlumberger’s dividend payout ratio is currently 35.37%.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction 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. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Schlumberger

Institutional investors and hedge funds have recently made changes to their positions in the business. ORG Partners LLC lifted its stake in Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Schlumberger in the third quarter worth $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Schlumberger in the third quarter valued at $37,000. DiNuzzo Private Wealth Inc. boosted its stake in shares of Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP purchased a new stake in Schlumberger during the 3rd quarter worth about $47,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Company Profile

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.