Schlumberger (NYSE:SLB) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Schlumberger (NYSE:SLB – Get Rating) in a research note issued to investors on Thursday. The firm issued a hold rating on the oil and gas company’s stock.

Other equities research analysts have also issued reports about the stock. Barclays raised their price objective on shares of Schlumberger from $62.00 to $74.00 and gave the company an overweight rating in a report on Wednesday, January 25th. Benchmark initiated coverage on shares of Schlumberger in a report on Thursday, January 19th. They issued a buy rating and a $65.00 price objective on the stock. Susquehanna restated a positive rating and issued a $68.00 price objective on shares of Schlumberger in a report on Tuesday, March 14th. Raymond James began coverage on shares of Schlumberger in a report on Friday, December 9th. They issued an outperform rating and a $65.00 price objective on the stock. Finally, Piper Sandler lifted their price target on shares of Schlumberger from $60.00 to $64.00 and gave the stock an overweight rating in a research note on Friday, November 18th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Schlumberger presently has a consensus rating of Moderate Buy and an average target price of $62.38.

Schlumberger Price Performance

Schlumberger stock opened at $44.68 on Thursday. The firm has a market cap of $63.81 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 0.40 and a beta of 1.77. Schlumberger has a 52-week low of $30.65 and a 52-week high of $62.78. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $54.41 and its two-hundred day moving average is $49.58.

Schlumberger (NYSE:SLB – Get Rating) last released its earnings results on Friday, January 20th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Schlumberger had a net margin of 12.25% and a return on equity of 18.51%. The company had revenue of $7.88 billion for the quarter, compared to analyst estimates of $7.80 billion. During the same period in the prior year, the business earned $0.41 EPS. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. On average, research analysts expect that Schlumberger will post 3.02 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Investors of record on Wednesday, February 8th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, February 7th. This represents a $1.00 dividend on an annualized basis and a yield of 2.24%. This is an increase from Schlumberger’s previous quarterly dividend of $0.18. Schlumberger’s payout ratio is currently 41.67%.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 70,000 shares of the business’s stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $57.20, for a total transaction of $4,004,000.00. Following the sale, the executive vice president now owns 204,357 shares of the company’s stock, valued at $11,689,220.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Schlumberger news, VP Kevin Fyfe sold 36,850 shares of Schlumberger stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $57.50, for a total transaction of $2,118,875.00. Following the completion of the transaction, the vice president now owns 32,105 shares in the company, valued at $1,846,037.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Abdellah Merad sold 70,000 shares of Schlumberger stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $57.20, for a total transaction of $4,004,000.00. Following the transaction, the executive vice president now owns 204,357 shares of the company’s stock, valued at approximately $11,689,220.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 269,696 shares of company stock valued at $15,227,195. Corporate insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Delta Asset Management LLC TN acquired a new position in Schlumberger during the fourth quarter worth about $26,000. Heritage Wealth Management LLC raised its position in shares of Schlumberger by 172.3% in the fourth quarter. Heritage Wealth Management LLC now owns 482 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 305 shares during the last quarter. Concord Wealth Partners acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $33,000. Acadian Asset Management LLC acquired a new position in shares of Schlumberger in the first quarter valued at approximately $25,000. Finally, Legacy Bridge LLC raised its position in shares of Schlumberger by 238.0% in the fourth quarter. Legacy Bridge LLC now owns 649 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 457 shares during the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.

About Schlumberger

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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 digital solutions and data products with its Asset Performance Solutions (APS).