Schlumberger Limited (NYSE:SLB) Given Average Recommendation of “Moderate Buy” by Analysts

Posted by on May 5th, 2023

Shares of Schlumberger Limited (NYSE:SLB – Get Rating) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $64.53.

SLB has been the topic of several analyst reports. Citigroup raised their price target on shares of Schlumberger from $62.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday, January 24th. Morgan Stanley raised their price target on shares of Schlumberger from $55.00 to $60.00 in a research note on Tuesday, April 18th. HSBC raised their price objective on shares of Schlumberger from $56.80 to $75.00 and gave the company a “buy” rating in a research note on Monday, January 30th. Benchmark assumed coverage on Schlumberger in a research report on Thursday, January 19th. They issued a “buy” rating and a $65.00 target price for the company. Finally, Raymond James lifted their price target on Schlumberger from $64.00 to $65.00 in a research report on Monday, April 24th.

Insider Transactions at Schlumberger

In other news, Director Vijay Kasibhatla sold 16,000 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $55.99, for a total value of $895,840.00. Following the completion of the sale, the director now owns 49,378 shares of the company’s stock, valued at $2,764,674.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Vijay Kasibhatla sold 16,000 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $55.99, for a total value of $895,840.00. Following the completion of the sale, the director now owns 49,378 shares of the company’s stock, valued at $2,764,674.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gavin Rennick sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $54.10, for a total value of $1,082,000.00. Following the completion of the sale, the insider now directly owns 64,393 shares of the company’s stock, valued at approximately $3,483,661.30. The disclosure for this sale can be found here. Insiders sold a total of 48,500 shares of company stock valued at $2,567,403 over the last quarter. Company insiders own 0.23% of the company’s stock.

Institutional Trading of Schlumberger

Institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in Schlumberger during the first quarter valued at $25,000. Delta Asset Management LLC TN acquired a new stake in Schlumberger during the fourth quarter valued at $26,000. Heritage Wealth Management LLC boosted its position in Schlumberger by 172.3% during the fourth quarter. Heritage Wealth Management LLC now owns 482 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 305 shares during the last quarter. James Investment Research Inc. acquired a new stake in Schlumberger during the third quarter valued at $28,000. Finally, Concord Wealth Partners acquired a new stake in Schlumberger during the fourth quarter valued at $33,000. Institutional investors and hedge funds own 80.22% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $45.07 on Friday. The firm’s 50 day moving average is $50.00 and its two-hundred day moving average is $51.95. Schlumberger has a 52 week low of $30.65 and a 52 week high of $62.78. The firm has a market capitalization of $64.01 billion, a P/E ratio of 16.75, a PEG ratio of 0.55 and a beta of 1.76. The company has a current ratio of 1.26, a quick ratio of 0.91 and a debt-to-equity ratio of 0.58.

Schlumberger (NYSE:SLB – Get Rating) last announced its quarterly earnings results on Friday, April 21st. The oil and gas company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. Schlumberger had a net margin of 12.94% and a return on equity of 20.16%. The company had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.46 billion. During the same quarter last year, the business earned $0.34 earnings per share. Schlumberger’s revenue was up 29.8% compared to the same quarter last year. Analysts anticipate that Schlumberger will post 3.01 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 13th. Shareholders of record on Wednesday, June 7th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.22%. The ex-dividend date is Tuesday, June 6th. Schlumberger’s dividend payout ratio (DPR) is currently 37.17%.

About Schlumberger

(Get Rating)

Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s digital solutions and data products with its Asset Performance Solutions (APS).

Featured Stories

Analyst Recommendations for Schlumberger (NYSE:SLB)

Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.