Schlumberger Limited (NYSE:SLB) Receives $70.31 Consensus PT from Brokerages

Schlumberger Limited (NYSE:SLB) has received an average recommendation of “Buy” from the eighteen brokerages that are currently covering the company, Marketbeat.com reports. Eighteen investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $69.67.

A number of brokerages have recently issued reports on SLB. Wells Fargo & Company upped their price objective on Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. TD Cowen dropped their price target on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday. Bank of America decreased their price objective on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Monday. Susquehanna restated a “positive” rating and set a $77.00 price objective on shares of Schlumberger in a research note on Monday. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $64.00 target price on shares of Schlumberger in a research note on Monday.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the transaction, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gavin Rennick sold 20,045 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $48.77, for a total value of $977,594.65. Following the transaction, the insider now owns 77,563 shares in the company, valued at approximately $3,782,747.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,545 shares of company stock valued at $4,458,430. 0.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Schlumberger

Several institutional investors and hedge funds have recently bought and sold shares of the company. Highland Capital Management LLC raised its position in shares of Schlumberger by 2,494.0% in the 4th quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock valued at $5,278,000 after buying an additional 97,516 shares in the last quarter. Guinness Asset Management LTD increased its stake in Schlumberger by 0.3% in the third quarter. Guinness Asset Management LTD now owns 331,309 shares of the oil and gas company’s stock valued at $19,468,000 after acquiring an additional 965 shares during the last quarter. Nordea Investment Management AB raised its position in Schlumberger by 36.4% during the fourth quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock valued at $74,080,000 after purchasing an additional 380,185 shares in the last quarter. Allworth Financial LP lifted its stake in Schlumberger by 3.8% during the third quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock worth $324,000 after purchasing an additional 206 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in shares of Schlumberger by 6.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock valued at $31,726,000 after purchasing an additional 35,763 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 0.7 %

Shares of SLB stock opened at $49.45 on Friday. The firm’s fifty day moving average price is $51.73 and its two-hundred day moving average price is $52.23. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. Schlumberger has a 1 year low of $42.73 and a 1 year high of $62.12. The firm has a market capitalization of $70.58 billion, a P/E ratio of 16.43, a PEG ratio of 0.95 and a beta of 1.60.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. Schlumberger’s quarterly revenue was up 12.6% on a year-over-year basis. On average, equities analysts predict that Schlumberger will post 3.5 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.22%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

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.