Piper Sandler Boosts Schlumberger (NYSE:SLB) Price Target to $64.00

Schlumberger (NYSE:SLBGet Rating) had its price target lifted by Piper Sandler from $60.00 to $64.00 in a report issued on Friday, The Fly reports. They currently have an overweight rating on the oil and gas company’s stock.

Several other analysts have also weighed in on SLB. TheStreet upgraded Schlumberger from a c+ rating to a b rating in a report on Tuesday, October 11th. The Goldman Sachs Group upped their target price on Schlumberger from $46.00 to $55.00 and gave the company a buy rating in a report on Tuesday, October 25th. HSBC upped their target price on Schlumberger to $56.80 in a report on Thursday, October 27th. Cowen upped their target price on Schlumberger from $47.00 to $49.00 and gave the company an outperform rating in a report on Monday, July 25th. Finally, Wells Fargo & Company upped their target price on Schlumberger from $51.00 to $69.00 and gave the company an overweight rating in a report on Wednesday, October 26th. Twenty research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Schlumberger currently has an average rating of Buy and a consensus target price of $54.37.

Schlumberger Trading Up 1.2 %

Shares of Schlumberger stock opened at $53.44 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.40 and a debt-to-equity ratio of 0.71. The firm has a market cap of $75.78 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 0.63 and a beta of 1.87. The business has a fifty day simple moving average of $45.23 and a 200-day simple moving average of $40.97. Schlumberger has a fifty-two week low of $27.65 and a fifty-two week high of $56.04.

Schlumberger (NYSE:SLBGet Rating) last announced its quarterly earnings data on Friday, October 21st. The oil and gas company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.08. The business had revenue of $7.48 billion during the quarter, compared to analyst estimates of $7.10 billion. Schlumberger had a return on equity of 16.58% and a net margin of 11.26%. The company’s revenue was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. On average, equities analysts forecast that Schlumberger will post 2.14 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 12th. Shareholders of record on Wednesday, December 7th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.31%. The ex-dividend date is Tuesday, December 6th. Schlumberger’s payout ratio is currently 33.65%.

Insiders Place Their Bets

In other Schlumberger news, major shareholder Limited/Nv Schlumberger sold 12,367,500 shares of the company’s stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $15.33, for a total value of $189,593,775.00. Following the transaction, the insider now directly owns 10,701,961 shares of the company’s stock, valued at approximately $164,061,062.13. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Limited/Nv Schlumberger sold 12,367,500 shares of the stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $15.33, for a total transaction of $189,593,775.00. Following the transaction, the insider now owns 10,701,961 shares of the company’s stock, valued at approximately $164,061,062.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Howard Guild sold 20,053 shares of the stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $53.00, for a total value of $1,062,809.00. Following the transaction, the chief accounting officer now directly owns 35,994 shares in the company, valued at approximately $1,907,682. The disclosure for this sale can be found here. Insiders have sold a total of 12,486,483 shares of company stock valued at $196,061,819 in the last three months. Insiders own 0.28% of the company’s stock.

Institutional Trading of Schlumberger

Several hedge funds have recently added to or reduced their stakes in SLB. Acadian Asset Management LLC bought a new stake in Schlumberger during the 1st quarter valued at approximately $25,000. JFS Wealth Advisors LLC boosted its stake in Schlumberger by 95.6% during the 1st quarter. JFS Wealth Advisors LLC now owns 618 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 302 shares during the period. WD Rutherford LLC bought a new stake in Schlumberger during the 1st quarter valued at approximately $26,000. Clearview Wealth Advisors LLC boosted its stake in Schlumberger by 1,346.0% during the 3rd quarter. Clearview Wealth Advisors LLC now owns 723 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 673 shares during the period. Finally, Castle Wealth Management LLC bought a new stake in Schlumberger during the 2nd quarter valued at approximately $27,000. Institutional investors own 78.71% of the company’s stock.

About Schlumberger

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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.

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