Schlumberger (NYSE:SLB) Coverage Initiated by Analysts at Melius

Melius assumed coverage on shares of Schlumberger (NYSE:SLB) in a research note published on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $82.00 target price on the oil and gas company’s stock.

A number of other analysts have also weighed in on the stock. Piper Sandler dropped their target price on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, July 18th. Jefferies Financial Group dropped their target price on shares of Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, June 26th. Atb Cap Markets upgraded shares of Schlumberger from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. UBS Group increased their target price on shares of Schlumberger from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Finally, Wells Fargo & Company lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $52.86.

Schlumberger Stock Up 0.0%

Shares of NYSE:SLB opened at $33.35 on Wednesday. The stock’s 50-day moving average price is $34.56 and its 200-day moving average price is $36.44. Schlumberger has a 12-month low of $31.11 and a 12-month high of $46.16. The stock has a market capitalization of $45.06 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 9.25 and a beta of 1.03. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The firm had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.51 billion. During the same period last year, the firm earned $0.85 earnings per share. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, equities analysts anticipate that Schlumberger will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.4%. Schlumberger’s dividend payout ratio (DPR) is 39.04%.

Institutional Trading of Schlumberger

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nuveen LLC purchased a new stake in Schlumberger in the first quarter worth about $169,232,000. Scharf Investments LLC increased its stake in shares of Schlumberger by 20.5% during the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company’s stock valued at $69,133,000 after purchasing an additional 281,773 shares in the last quarter. Integrated Advisors Network LLC increased its stake in shares of Schlumberger by 810.4% during the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company’s stock valued at $3,142,000 after purchasing an additional 66,907 shares in the last quarter. Alan B Lancz & Associates Inc. bought a new position in shares of Schlumberger during the first quarter valued at approximately $308,000. Finally, Stratos Investment Management LLC increased its stake in shares of Schlumberger by 236.0% during the first quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company’s stock valued at $6,141,000 after purchasing an additional 103,182 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

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.