Analysts Set Schlumberger Limited (NYSE:SLB) Price Target at $55.81

Shares of Schlumberger Limited (NYSE:SLB) have earned an average recommendation of “Moderate Buy” from the twenty-two brokerages that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $55.81.

Several brokerages have recently commented on SLB. BMO Capital Markets decreased their price objective on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Citigroup raised their price target on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Jefferies Financial Group cut their price objective on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Barclays lowered their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Finally, Piper Sandler began coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock.

Insider Buying and Selling

In other news, insider Bejar Carmen Rando sold 5,524 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the sale, the insider now owns 30,829 shares in the company, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the transaction, the director now owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock worth $11,442,229 over the last 90 days. 0.26% of the stock is owned by insiders.

Institutional Trading of Schlumberger

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. ORG Partners LLC increased 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 worth $25,000 after buying an additional 484 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of Schlumberger during the third quarter worth approximately $29,000. YANKCOM Partnership acquired a new position in shares of Schlumberger in the 4th quarter valued at $31,000. Stonebridge Financial Group LLC purchased a new stake in Schlumberger in the 4th quarter valued at $32,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Schlumberger during the 3rd quarter worth $37,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

SLB stock opened at $42.19 on Thursday. Schlumberger has a 52-week low of $36.52 and a 52-week high of $55.69. The business has a fifty day moving average of $40.14 and a two-hundred day moving average of $41.92. The stock has a market cap of $59.10 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 9.90 and a beta of 1.51. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 EPS. As a group, research analysts anticipate that Schlumberger will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.70%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is presently 36.66%.

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.