Schlumberger (NYSE:SLB) Stock Rating Reaffirmed by Stifel Nicolaus

Stifel Nicolaus reaffirmed their buy rating on shares of Schlumberger (NYSE:SLB) in a research note issued to investors on Monday, Benzinga reports. They currently have a $60.00 price target on the oil and gas company’s stock, down from their prior price target of $62.00.

Other equities analysts have also recently issued research reports about the stock. Dbs Bank assumed coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price on the stock. TD Cowen lowered their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Monday. Bank of America reduced their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Piper Sandler cut their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Finally, UBS Group lowered their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Trading Down 2.1 %

Shares of SLB stock opened at $41.25 on Monday. The business has a 50-day moving average price of $43.00 and a two-hundred day moving average price of $45.75. Schlumberger has a 12-month low of $38.66 and a 12-month high of $57.75. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The firm has a market cap of $58.96 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 1.48 and a beta of 1.51.

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, topping analysts’ consensus estimates of $0.88 by $0.01. The company 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%. Schlumberger’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS. Equities analysts anticipate that Schlumberger will post 3.41 EPS for the current fiscal year.

Schlumberger Dividend Announcement

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 given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Schlumberger

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Capital World Investors boosted its stake in Schlumberger by 72.3% during 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings 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 purchasing an additional 10,606,191 shares during the last quarter. Boston Partners boosted its position in shares of Schlumberger by 35.8% in the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after purchasing an additional 3,069,395 shares in the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of Schlumberger in the 2nd quarter worth approximately $92,944,000. Finally, 1832 Asset Management L.P. purchased a new stake in shares of Schlumberger in the 2nd quarter worth approximately $91,364,000. 81.99% of the stock is owned by hedge funds and other 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.