Schlumberger Limited (NYSE:SLB) Receives $70.87 Consensus Target Price from Analysts

Schlumberger Limited (NYSE:SLB) has been given an average recommendation of “Buy” by the thirteen research firms that are currently covering the company, Marketbeat reports. Thirteen research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $70.87.

Several analysts have commented on the company. Barclays reduced their price objective on Schlumberger from $77.00 to $74.00 and set an “overweight” rating for the company in a research note on Monday, January 22nd. Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Monday, March 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 price objective on shares of Schlumberger in a research report on Thursday, February 8th. Susquehanna restated a “positive” rating and set a $77.00 price objective on shares of Schlumberger in a research report on Tuesday, February 13th. Finally, Wells Fargo & Company raised their target price on shares of Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd.

Insider Buying and Selling

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the sale, the chief financial officer now directly owns 249,182 shares in the company, valued at $13,151,825.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the transaction, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The sale was disclosed in a filing with the SEC, which is available at 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 shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 172,191 shares of company stock worth $8,636,322 in the last quarter. Company insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLB. Acadian Asset Management LLC purchased a new position in shares of Schlumberger during the first quarter valued at approximately $25,000. Cetera Investment Advisers boosted its holdings in shares of Schlumberger by 35.3% during the first quarter. Cetera Investment Advisers now owns 39,287 shares of the oil and gas company’s stock worth $1,623,000 after purchasing an additional 10,240 shares during the last quarter. Dakota Wealth Management purchased a new stake in shares of Schlumberger in the first quarter valued at $232,000. Sequoia Financial Advisors LLC acquired a new position in Schlumberger in the first quarter valued at $419,000. Finally, Baird Financial Group Inc. lifted its position in Schlumberger by 2.9% during the first quarter. Baird Financial Group Inc. now owns 112,003 shares of the oil and gas company’s stock worth $4,627,000 after buying an additional 3,209 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $54.90 on Monday. The firm’s fifty day simple moving average is $50.23 and its 200-day simple moving average is $53.17. Schlumberger has a 12 month low of $42.73 and a 12 month high of $62.12. The stock has a market capitalization of $78.36 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 0.97 and a beta of 1.59. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.00.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 19th. The oil and gas company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The company had revenue of $8.99 billion for the quarter, compared to analyst estimates of $8.96 billion. During the same period in the previous year, the business posted $0.71 earnings per share. Schlumberger’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities analysts forecast that Schlumberger will post 3.54 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Wednesday, February 7th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.82%. Schlumberger’s payout ratio is 34.25%.

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.