Schlumberger Limited (NYSE:SLB) Receives $52.38 Average Price Target from Brokerages

Shares of Schlumberger Limited (NYSE:SLB) have been given an average rating of “Moderate Buy” by the twenty research firms that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $52.38.

SLB has been the subject of a number of recent research reports. Susquehanna lowered their target price on Schlumberger from $48.00 to $46.00 and set a “positive” rating for the company in a research note on Monday, April 28th. Jefferies Financial Group lowered their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Morgan Stanley lowered their target price on Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Wells Fargo & Company lowered their target price on Schlumberger from $46.00 to $43.00 and set an “overweight” rating for the company in a research note on Thursday, June 5th. Finally, Barclays lowered their target price on Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, April 25th.

Schlumberger Price Performance

SLB opened at $35.82 on Wednesday. The stock has a 50-day moving average price of $34.54 and a 200-day moving average price of $38.11. Schlumberger has a 12-month low of $31.11 and a 12-month high of $50.94. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $48.71 billion, a P/E ratio of 12.14, a PEG ratio of 9.29 and a beta of 1.01.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The firm had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.64 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. Schlumberger’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities analysts predict that Schlumberger will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s payout ratio is 38.64%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the transaction, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. This represents a 44.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director La Chevardiere Patrick De sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director now owns 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Command Advisory Services Inc. grew its holdings in shares of Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 477 shares during the period. Atlas Capital Advisors Inc. purchased a new position in shares of Schlumberger during the 1st quarter worth approximately $33,000. Alpine Bank Wealth Management purchased a new position in shares of Schlumberger during the 1st quarter worth approximately $34,000. Park Square Financial Group LLC purchased a new position in shares of Schlumberger during the 1st quarter worth approximately $38,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Schlumberger during the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.