Schlumberger (NYSE:SLB) Sets New 1-Year High on Analyst Upgrade

Shares of Schlumberger Limited (NYSE:SLBGet Rating) hit a new 52-week high on Tuesday after Citigroup raised their price target on the stock from $62.00 to $67.00. Citigroup currently has a buy rating on the stock. Schlumberger traded as high as $62.78 and last traded at $54.98, with a volume of 1159758 shares trading hands. The stock had previously closed at $55.86.

A number of other brokerages have also recently weighed in on SLB. Benchmark started coverage on shares of Schlumberger in a report on Thursday, January 19th. They issued a “buy” rating and a $65.00 price objective for the company. TheStreet upgraded shares of Schlumberger from a “c+” rating to a “b” rating in a report on Tuesday, October 11th. The Goldman Sachs Group lifted their price objective on shares of Schlumberger from $46.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, October 25th. Susquehanna Bancshares lifted their price target on shares of Schlumberger from $52.00 to $59.00 and gave the stock a “positive” rating in a research note on Monday, October 24th. Finally, Griffin Securities reiterated a “buy” rating on shares of Schlumberger in a research note on Monday, January 16th. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.52.

Insider Activity at Schlumberger

In related news, Director Vijay Kasibhatla sold 14,000 shares of the company’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $54.15, for a total value of $758,100.00. Following the completion of the sale, the director now owns 32,932 shares in the company, valued at approximately $1,783,267.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Schlumberger news, Director Vijay Kasibhatla sold 14,000 shares of the business’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $54.15, for a total value of $758,100.00. Following the transaction, the director now directly owns 32,932 shares of the company’s stock, valued at approximately $1,783,267.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dianne B. Ralston sold 10,493 shares of the business’s stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $52.52, for a total transaction of $551,092.36. Following the completion of the transaction, the insider now directly owns 23,379 shares in the company, valued at $1,227,865.08. The disclosure for this sale can be found here. Insiders sold a total of 269,389 shares of company stock worth $15,026,271 in the last 90 days. 0.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Schlumberger

Several institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in shares of Schlumberger during the 1st quarter worth $25,000. Legacy Bridge LLC grew its stake in shares of Schlumberger by 238.0% during the 4th quarter. Legacy Bridge LLC now owns 649 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 457 shares during the period. MinichMacGregor Wealth Management LLC acquired a new position in shares of Schlumberger during the 4th quarter worth $36,000. Clearview Wealth Advisors LLC grew its stake in shares of 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 worth $26,000 after purchasing an additional 673 shares during the period. Finally, Castle Wealth Management LLC acquired a new position in shares of Schlumberger during the 2nd quarter worth $27,000. 80.22% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Performance

The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $78.66 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 0.50 and a beta of 1.79. The stock’s 50 day moving average price is $52.95 and its two-hundred day moving average price is $44.91.

Schlumberger (NYSE:SLBGet Rating) last released its quarterly earnings data on Friday, January 20th. The oil and gas company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Schlumberger had a net margin of 12.25% and a return on equity of 18.51%. The business had revenue of $7.88 billion for the quarter, compared to analyst estimates of $7.80 billion. During the same period in the previous year, the firm earned $0.41 EPS. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, analysts forecast that Schlumberger Limited will post 3.03 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Investors of record on Wednesday, February 8th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, February 7th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a dividend yield of 1.80%. Schlumberger’s payout ratio is currently 29.17%.

Schlumberger Company Profile

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Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s software and seismic businesses with its integrated offering of asset performance solutions.

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