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

Key Points

• Schlumberger Limited has received a consensus rating of "Moderate Buy" from 19 analyst firms, with an average one-year price target set at $49.28.
• The company has recently announced a quarterly dividend of $0.285 per share, which represents an annualized yield of 3.5%.
• Despite reporting earnings of $0.74 per share for the last quarter, revenue was down 6.5% compared to the previous year, indicating potential challenges ahead for the company.

Schlumberger Limited (NYSE:SLB - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the nineteen ratings firms that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $49.2813.

Several research firms have recently weighed in on SLB. Piper Sandler reduced their price target 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. Morgan Stanley decreased their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Barclays cut their price target on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Stifel Nicolaus reduced their price objective on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Finally, UBS Group increased their price objective on shares of Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd.

Schlumberger Stock Down 1.9%

Shares of NYSE:SLB opened at $32.88 on Thursday. The company has a market capitalization of $44.43 billion, a PE ratio of 11.26, a PEG ratio of 9.29 and a beta of 1.03. Schlumberger has a 52 week low of $31.11 and a 52 week high of $46.16. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The company has a 50 day moving average price of $34.74 and a two-hundred day moving average price of $37.05.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business's quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 earnings per share. Analysts forecast that Schlumberger will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently announced 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. This represents a $1.14 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is currently 39.04%.

Insider Buying and Selling

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director directly owned 23,525 shares of the company's stock, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Schlumberger

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Van Cleef Asset Management Inc grew its holdings in shares of Schlumberger by 2.9% during the 2nd quarter. Van Cleef Asset Management Inc now owns 98,758 shares of the oil and gas company's stock valued at $3,338,000 after purchasing an additional 2,786 shares during the last quarter. AE Wealth Management LLC grew its holdings in Schlumberger by 73.6% during the 2nd quarter. AE Wealth Management LLC now owns 37,836 shares of the oil and gas company's stock worth $1,279,000 after acquiring an additional 16,040 shares during the last quarter. Penserra Capital Management LLC grew its holdings in Schlumberger by 69.4% during the 2nd quarter. Penserra Capital Management LLC now owns 18,047 shares of the oil and gas company's stock worth $609,000 after acquiring an additional 7,394 shares during the last quarter. Harvest Portfolios Group Inc. lifted its position in shares of Schlumberger by 3.1% in the 2nd quarter. Harvest Portfolios Group Inc. now owns 42,735 shares of the oil and gas company's stock worth $1,444,000 after purchasing an additional 1,290 shares during the period. Finally, Vestmark Advisory Solutions Inc. acquired a new position in shares of Schlumberger in the 2nd quarter worth approximately $935,000. 81.99% of the stock is owned by 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.

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