Schlumberger Limited (NYSE:SLB) Receives $55.81 Average Target Price from Analysts

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

Several research analysts have weighed in on SLB shares. TD Cowen raised their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Barclays decreased their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a report on Tuesday, January 21st. Piper Sandler assumed coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Finally, BMO Capital Markets decreased their price target on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th.

Insiders Place Their Bets

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gavin Rennick sold 26,990 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the sale, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. This trade represents a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 290,772 shares of company stock worth $12,546,660. 0.26% of the stock is owned by corporate insiders.

Institutional Trading of Schlumberger

A number of hedge funds and other institutional investors have recently made changes to their positions in SLB. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger in the 3rd quarter worth approximately $29,000. YANKCOM Partnership bought a new stake in shares of Schlumberger in the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Schlumberger in the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC bought a new stake in shares of Schlumberger in the 4th quarter worth approximately $34,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Schlumberger in the 3rd quarter worth approximately $37,000. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Performance

Schlumberger stock opened at $41.10 on Monday. Schlumberger has a 12-month low of $36.52 and a 12-month high of $55.69. The company has a market capitalization of $55.89 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm’s fifty day moving average price is $40.95 and its 200 day moving average price is $41.52.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion during 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%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.86 EPS. On average, research analysts forecast that Schlumberger will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

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

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.