Schlumberger Limited (NYSE:SLB) Given Average Rating of “Moderate Buy” by Brokerages

by · The Markets Daily

Shares of Schlumberger Limited (NYSE:SLB – Get Free Report) have received a consensus rating of “Moderate Buy” from the seventeen analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $68.59.

A number of brokerages recently issued reports on SLB. The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Benchmark reissued a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research report on Tuesday, June 25th. Wells Fargo & Company cut shares of Schlumberger from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $68.00 to $53.00 in a research report on Monday, April 29th. Barclays lowered their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Finally, BMO Capital Markets lowered their price target on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Monday, April 22nd.

Get Our Latest Stock Analysis on Schlumberger

Schlumberger Price Performance

Shares of Schlumberger stock opened at $46.14 on Wednesday. The firm has a market cap of $65.95 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55. Schlumberger has a 12-month low of $42.61 and a 12-month high of $62.12. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The company’s fifty day simple moving average is $46.44 and its two-hundred day simple moving average is $49.41.

Schlumberger (NYSE:SLB – Get Free Report) last announced its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same quarter last year, the firm earned $0.63 EPS. The company’s revenue was up 12.6% on a year-over-year basis. As a group, equities analysts expect that Schlumberger will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.38%. Schlumberger’s payout ratio is 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the transaction, the insider now owns 45,851 shares in the company, valued at $2,213,686.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Gavin Rennick sold 38,083 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total value of $1,838,647.24. Following the transaction, the insider now directly owns 45,851 shares in the company, valued at $2,213,686.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the transaction, the insider now owns 22,518 shares in the company, valued at $977,956.74. The disclosure for this sale can be found here. Insiders have sold 106,158 shares of company stock worth $5,099,893 over the last quarter. Insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

A number of hedge funds have recently added to or reduced their stakes in SLB. Capital World Investors lifted its stake in Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after acquiring an additional 37,333,485 shares during the period. Norges Bank purchased a new stake in shares of Schlumberger during the fourth quarter valued at about $1,000,292,000. Price T Rowe Associates Inc. MD lifted its position in shares of Schlumberger by 14.1% during the first 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 buying an additional 10,606,191 shares during the last quarter. Winslow Capital Management LLC lifted its position in shares of Schlumberger by 123,063.5% during the fourth quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock valued at $226,253,000 after buying an additional 4,344,141 shares during the last quarter. Finally, Boston Partners lifted its position 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 buying an additional 3,069,395 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Company Profile

(Get Free Report

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.

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