Analysts Set Schlumberger Limited (NYSE:SLB) PT at $68.59

Shares of Schlumberger Limited (NYSE:SLB) have been given an average recommendation of “Moderate Buy” by the seventeen research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $68.59.

A number of equities research analysts have weighed in on the company. Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research report on Tuesday, June 25th. Bank of America cut their price objective on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. TD Cowen cut their price objective on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. HSBC reiterated a “buy” rating and set a $71.00 price objective on shares of Schlumberger in a research report on Thursday, April 4th. Finally, BMO Capital Markets cut their price objective on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Monday, April 22nd.

Schlumberger Stock Performance

SLB opened at $45.21 on Wednesday. The company has a market capitalization of $64.62 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. Schlumberger has a 1-year low of $42.61 and a 1-year high of $62.12. The business has a 50 day moving average price of $46.33 and a two-hundred day moving average price of $49.31.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.75. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 earnings per share. Research analysts predict that Schlumberger will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 2.43%. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Buying and Selling

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the sale, the insider now directly owns 22,518 shares in the company, valued at $977,956.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Gavin Rennick sold 38,083 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total value of $1,838,647.24. Following the completion of the sale, the insider now owns 45,851 shares in the company, valued at $2,213,686.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the sale, the insider now owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 106,158 shares of company stock worth $5,099,893. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Register Financial Advisors LLC acquired a new position in Schlumberger in the first quarter worth about $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in Schlumberger in the fourth quarter worth about $26,000. Manchester Capital Management LLC raised its position in Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Schlumberger during the fourth quarter worth approximately $32,000. Finally, Rational Advisors LLC acquired a new stake in shares of Schlumberger during the first quarter worth approximately $35,000. Institutional investors and hedge funds 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.