Schlumberger Limited (NYSE:SLB) Receives $50.79 Consensus Target Price from Brokerages

Shares of Schlumberger Limited (NYSE:SLB - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twenty ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $50.79.

A number of brokerages recently issued reports on SLB. Piper Sandler reduced their price target on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. UBS Group boosted their price target on Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Barclays reduced their price target on Schlumberger from $48.00 to $47.00 and set an "overweight" rating on the stock in a report on Thursday. Finally, Stifel Nicolaus reduced their price target on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, April 28th.

Insider Activity at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director directly owned 23,525 shares of the company's stock, valued at $789,969.50. The trade was a 17.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Schlumberger

Hedge funds have recently made changes to their positions in the stock. First Command Advisory Services Inc. boosted its position in shares of Schlumberger by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 477 shares in the last quarter. Atticus Wealth Management LLC purchased a new position in Schlumberger in the 2nd quarter worth approximately $29,000. Atlas Capital Advisors Inc. purchased a new position in Schlumberger in the 1st quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Schlumberger by 55.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company's stock worth $33,000 after acquiring an additional 350 shares during the last quarter. Finally, Alpine Bank Wealth Management purchased a new position in Schlumberger in the 1st quarter worth approximately $34,000. 81.99% of the stock is owned by institutional investors.

Schlumberger Trading Up 1.9%

Shares of SLB traded up $0.70 during trading hours on Friday, hitting $37.35. The company had a trading volume of 11,333,547 shares, compared to its average volume of 13,896,116. The firm has a market cap of $50.80 billion, a P/E ratio of 12.66, a P/E/G ratio of 9.87 and a beta of 1.01. The stock's 50 day moving average price is $34.77 and its 200 day moving average price is $37.64. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51. Schlumberger has a 52-week low of $31.11 and a 52-week high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The firm's quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 EPS. On average, research analysts predict that Schlumberger will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th were given a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.05%. Schlumberger's dividend payout ratio is currently 38.64%.

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.