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

Shares of Schlumberger Limited (NYSE:SLB) have received a consensus rating of “Moderate Buy” from the twenty-one analysts that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $52.1765.

Several analysts recently commented on SLB shares. Susquehanna reduced their price objective on shares of Schlumberger from $44.00 to $42.00 and set a “positive” rating for the company in a research note on Monday, July 21st. Melius Research started coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective for the company. UBS Group reduced their price objective on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Piper Sandler reduced their price objective on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Finally, Melius started coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective for the company.

Schlumberger Stock Down 2.8%

Shares of Schlumberger stock opened at $34.13 on Friday. The company has a market cap of $50.97 billion, a P/E ratio of 11.69, a PEG ratio of 9.74 and a beta of 0.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. Schlumberger has a one year low of $31.11 and a one year high of $46.15. The firm has a fifty day moving average of $34.65 and a two-hundred day moving average of $35.23.

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

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.3%. Schlumberger’s payout ratio is presently 39.04%.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLB. Brighton Jones LLC raised its position in Schlumberger by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after acquiring an additional 1,166 shares during the last quarter. Bison Wealth LLC purchased a new stake in shares of Schlumberger during the fourth quarter worth about $238,000. 111 Capital purchased a new position in shares of Schlumberger during the fourth quarter valued at approximately $405,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Schlumberger by 62.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 113,999 shares of the oil and gas company’s stock valued at $4,765,000 after buying an additional 43,808 shares during the period. Finally, Versant Capital Management Inc boosted its position in Schlumberger by 114.2% during the first quarter. Versant Capital Management Inc now owns 3,209 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 1,711 shares during the last quarter. 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.