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

Schlumberger Limited (NYSE:SLB) has received a consensus recommendation of “Buy” from the eighteen brokerages that are currently covering the stock, Marketbeat reports. Eighteen investment analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $69.67.

A number of research firms have recently commented on SLB. TD Cowen dropped their price objective on Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Susquehanna reiterated a “positive” rating and issued a $77.00 target price on shares of Schlumberger in a report on Monday. Wells Fargo & Company lifted their price target on Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. Finally, BMO Capital Markets lowered their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday.

Schlumberger Stock Up 0.1 %

SLB opened at $49.55 on Friday. Schlumberger has a one year low of $42.73 and a one year high of $62.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The stock’s fifty day moving average is $51.68 and its 200-day moving average is $52.28. The company has a market capitalization of $70.73 billion, a PE ratio of 16.46, a P/E/G ratio of 0.95 and a beta of 1.60.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company 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 EPS. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities analysts predict that Schlumberger will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a $0.275 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s payout ratio is 36.54%.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 249,182 shares in the company, valued at approximately $13,151,825.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the transaction, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,768 shares of company stock worth $5,511,037. 0.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Investment Advisory Services Inc. TX ADV lifted its holdings in shares of Schlumberger by 1.4% during the third quarter. Investment Advisory Services Inc. TX ADV now owns 11,968 shares of the oil and gas company’s stock worth $698,000 after buying an additional 171 shares during the last quarter. Miller Howard Investments Inc. NY lifted its holdings in shares of Schlumberger by 0.5% during the third quarter. Miller Howard Investments Inc. NY now owns 32,845 shares of the oil and gas company’s stock worth $1,915,000 after buying an additional 176 shares during the last quarter. Stonegate Investment Group LLC lifted its holdings in shares of Schlumberger by 1.7% during the third quarter. Stonegate Investment Group LLC now owns 10,864 shares of the oil and gas company’s stock worth $633,000 after buying an additional 177 shares during the last quarter. CI Investments Inc. lifted its holdings in shares of Schlumberger by 4.9% during the third quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock worth $241,000 after buying an additional 192 shares during the last quarter. Finally, Montgomery Investment Management Inc. raised its stake in shares of Schlumberger by 1.9% in the third quarter. Montgomery Investment Management Inc. now owns 10,920 shares of the oil and gas company’s stock valued at $637,000 after purchasing an additional 200 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Company Profile

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.