Schlumberger Limited (NYSE:SLB) Receives Average Rating of “Buy” from Brokerages

Schlumberger Limited (NYSE:SLB) has been assigned a consensus rating of “Buy” from the eighteen ratings firms that are currently covering the company, Marketbeat.com reports. Eighteen equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $69.67.

A number of research analysts recently commented on the company. Susquehanna reissued a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a report on Monday. Morgan Stanley reiterated an “overweight” rating and set a $65.00 target price on shares of Schlumberger in a research note on Monday. Bank of America dropped their price target on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Monday. HSBC reiterated a “buy” rating and set a $71.00 price objective on shares of Schlumberger in a research note on Thursday, April 4th. Finally, Benchmark reissued a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research report on Monday.

Schlumberger Trading Up 0.7 %

NYSE SLB opened at $49.45 on Friday. The stock has a market cap of $70.58 billion, a P/E ratio of 16.43, a PEG ratio of 0.95 and a beta of 1.60. The company’s fifty day simple moving average is $51.73 and its 200-day simple moving average is $52.23. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. Schlumberger has a 52 week low of $42.73 and a 52 week high of $62.12.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS. Equities research analysts predict that Schlumberger will post 3.5 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.22%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. Insiders sold a total of 90,545 shares of company stock valued at $4,458,430 in the last three months. 0.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Schlumberger

Institutional investors have recently bought and sold shares of the company. Highland Capital Management LLC lifted its holdings in shares of Schlumberger by 2,494.0% during the 4th quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock valued at $5,278,000 after buying an additional 97,516 shares during the last quarter. Guinness Asset Management LTD grew its position in Schlumberger by 0.3% in the third quarter. Guinness Asset Management LTD now owns 331,309 shares of the oil and gas company’s stock worth $19,468,000 after acquiring an additional 965 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Schlumberger by 36.4% during the 4th quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock worth $74,080,000 after purchasing an additional 380,185 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Schlumberger by 3.8% during the 3rd quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock valued at $324,000 after purchasing an additional 206 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in shares of Schlumberger by 6.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock valued at $31,726,000 after purchasing an additional 35,763 shares during the last quarter. Institutional investors and hedge funds 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.