Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems. The company also provides mud logging and engineering support services; drilling equipment and services for shipyards, drilling contractors, energy companies, and rental tool companies; land drilling rigs and related services; drilling tools; well cementing products and services; and well planning and drilling, engineering, supervision, logistics, procurement, contracting, and drilling rig management services, as well as supplies engineered drilling fluid systems; and designs, manufactures, and markets roller cone and fixed cutter drill bits. In addition, it offers well completion services and equipment; artificial lift production equipment and optimization services; valves; process systems; and integrated subsea production systems comprising wellheads, subsea trees, manifolds and flowline connectors, control systems, connectors, and services, as well as designs and manufactures onshore and offshore platform wellhead systems and processing solutions. The company was formerly known as Socie´te´ de Prospection E´lectrique. Schlumberger Limited was founded in 1926 and is based in Houston, Texas.
Analysts Set New Price Targets
Several brokerages have commented on SLB. Cowen boosted their target price on shares of Schlumberger from $47.00 to $49.00 and gave the stock an "outperform" rating in a research report on Monday, July 25th. HSBC upgraded shares of Schlumberger from a "hold" rating to a "buy" rating and upped their target price for the company from $4.60 to $44.20 in a report on Wednesday, April 27th. StockNews.com downgraded shares of Schlumberger from a "buy" rating to a "hold" rating in a research note on Thursday, August 11th. Barclays upped their price objective on shares of Schlumberger from $55.00 to $59.00 and gave the company an "overweight" rating in a research note on Wednesday, June 8th. Finally, Benchmark raised shares of Schlumberger from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a research report on Wednesday, July 27th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $47.01.
Schlumberger Trading Up 4.9 %
SLB Stock opened at $37.13 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.35 and a quick ratio of 0.98. The company has a fifty day moving average price of $35.96 and a two-hundred day moving average price of $39.67. Schlumberger has a one year low of $25.90 and a one year high of $49.83. The stock has a market cap of $52.52 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 0.45 and a beta of 1.86.
Schlumberger (NYSE:SLB - Get Rating) last posted its earnings results on Friday, July 22nd. The oil and gas company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.10. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.28 billion. Schlumberger had a return on equity of 15.06% and a net margin of 10.56%. The company's revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 earnings per share. Equities analysts anticipate that Schlumberger will post 2.02 EPS for the current year.
Schlumberger Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Wednesday, September 7th will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 1.89%. The ex-dividend date is Tuesday, September 6th. Schlumberger's payout ratio is 38.04%.
Insiders Place Their Bets
In other Schlumberger news, major shareholder Limited/Nv Schlumberger sold 12,032,500 shares of the business's stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $17.00, for a total transaction of $204,552,500.00. Following the completion of the transaction, the insider now owns 23,069,461 shares of the company's stock, valued at $392,180,837. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Limited/Nv Schlumberger sold 12,032,500 shares of the business's stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $17.00, for a total transaction of $204,552,500.00. Following the sale, the insider now directly owns 23,069,461 shares in the company, valued at $392,180,837. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gavin Rennick sold 10,759 shares of the business's stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $46.70, for a total value of $502,445.30. Following the sale, the insider now owns 38,044 shares in the company, valued at $1,776,654.80. The disclosure for this sale can be found here. Insiders own 0.28% of the company's stock.
