Schlumberger (NYSE:SLB) Stock Price Up 0.6% – Should You Buy?

Shares of Schlumberger Limited (NYSE:SLB) rose 0.6% during trading on Wednesday . The company traded as high as $40.85 and last traded at $40.68. Approximately 2,093,826 shares traded hands during trading, a decline of 81% from the average daily volume of 11,115,894 shares. The stock had previously closed at $40.43.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SLB shares. Dbs Bank initiated coverage on Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research note on Thursday, October 3rd. Susquehanna decreased their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Piper Sandler reduced their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Barclays reduced their target price on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Trading Down 0.8 %

The stock has a market capitalization of $56.12 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 1.42 and a beta of 1.51. The business has a 50-day moving average of $42.55 and a 200-day moving average of $45.27. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (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 during the quarter, compared to analysts’ expectations of $9.27 billion. During the same period in the prior year, the company posted $0.78 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, research analysts forecast that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.77%. Schlumberger’s payout ratio is currently 35.37%.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Schlumberger

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norden Group LLC acquired a new stake in shares of Schlumberger in the 1st quarter worth approximately $4,046,000. Ashton Thomas Private Wealth LLC boosted its holdings in Schlumberger by 4.7% during the first quarter. Ashton Thomas Private Wealth LLC now owns 11,551 shares of the oil and gas company’s stock worth $633,000 after buying an additional 520 shares in the last quarter. J.W. Cole Advisors Inc. grew its position in Schlumberger by 13.9% in the first quarter. J.W. Cole Advisors Inc. now owns 17,340 shares of the oil and gas company’s stock worth $950,000 after buying an additional 2,118 shares during the last quarter. Private Advisor Group LLC lifted its stake in Schlumberger by 18.4% during the first quarter. Private Advisor Group LLC now owns 132,327 shares of the oil and gas company’s stock valued at $7,253,000 after buying an additional 20,583 shares in the last quarter. Finally, Mission Wealth Management LP acquired a new stake in shares of Schlumberger during the first quarter valued at approximately $245,000. Institutional investors own 81.99% of the company’s stock.

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.