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

Shares of Schlumberger Limited (NYSE:SLB – Get 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:SLB – Get 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

(Get Rating)

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.