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

Schlumberger Limited (NYSE:SLB) has been given an average recommendation of “Moderate Buy” by the twenty-two analysts that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $55.81.

SLB has been the topic of several analyst reports. Citigroup lifted their price target on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price target on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. TD Cowen lifted their price target on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Jefferies Financial Group cut their price target on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Finally, Evercore ISI reiterated an “in-line” rating and set a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th.

Schlumberger Stock Performance

Shares of SLB stock opened at $41.10 on Monday. The firm has a market cap of $55.89 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 10.10 and a beta of 1.47. The company’s 50 day moving average is $40.95 and its 200 day moving average is $41.48. 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 has a 52-week low of $36.52 and a 52-week high of $55.69.

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

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.77%. Schlumberger’s payout ratio is currently 36.66%.

Insider Activity at Schlumberger

In related news, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the transaction, the vice president now directly owns 11,240 shares in the company, valued at $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the transaction, the insider now directly owns 53,584 shares of the company’s stock, valued at $2,192,657.28. The trade was a 33.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock worth $12,546,660 over the last three months. Company insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky increased its holdings in Schlumberger by 25.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock valued at $31,961,000 after buying an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after buying an additional 16,350 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Schlumberger by 8.7% in the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after buying an additional 65,318 shares in the last quarter. Bryn Mawr Capital Management LLC increased its stake in shares of Schlumberger by 502.6% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company’s stock worth $7,592,000 after purchasing an additional 165,162 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its stake in shares of Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after purchasing an additional 14,376 shares in the last quarter. Hedge funds and other 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.