Schlumberger Limited (NYSE:SLB) Receives $58.79 Consensus PT from Brokerages

Shares of Schlumberger Limited (NYSE:SLB) have received a consensus recommendation of “Moderate Buy” from the twenty-one ratings firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $58.79.

Several research firms have commented on SLB. Wells Fargo & Company lowered their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Bank of America lowered their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Dbs Bank initiated coverage on shares of Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target on the stock. Citigroup dropped their price objective on Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, BMO Capital Markets reduced their target price on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th.

Schlumberger Stock Performance

Shares of SLB opened at $37.80 on Wednesday. Schlumberger has a 1 year low of $36.52 and a 1 year high of $55.69. The company’s 50 day simple moving average is $41.48 and its 200 day simple moving average is $43.51. The company has a market capitalization of $53.38 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.42 and a beta of 1.51. 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 issued its quarterly 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 for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 EPS. On average, sell-side analysts predict that Schlumberger will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.91%. Schlumberger’s payout ratio is currently 35.37%.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s 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 trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in shares of Schlumberger by 8.0% during the third quarter. Principal Financial Group Inc. now owns 4,487,067 shares of the oil and gas company’s stock worth $188,232,000 after purchasing an additional 332,500 shares during the last quarter. Syntax Research Inc. bought a new position in Schlumberger during the 3rd quarter worth approximately $3,491,000. Copley Financial Group Inc. acquired a new position in shares of Schlumberger in the 3rd quarter worth approximately $515,000. Peapack Gladstone Financial Corp grew its position in shares of Schlumberger by 15.0% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 268,008 shares of the oil and gas company’s stock worth $11,244,000 after acquiring an additional 34,861 shares in the last quarter. Finally, Synovus Financial Corp increased its holdings in shares of Schlumberger by 30.2% in the 3rd quarter. Synovus Financial Corp now owns 109,717 shares of the oil and gas company’s stock valued at $4,603,000 after acquiring an additional 25,465 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

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.