Schlumberger (NYSE:SLB) Trading Up 0.3% – What’s Next?

Schlumberger Limited (NYSE:SLB) shares shot up 0.3% during trading on Friday . The company traded as high as $43.51 and last traded at $43.39. 1,869,777 shares changed hands during trading, a decline of 83% from the average session volume of 11,226,744 shares. The stock had previously closed at $43.24.

Analysts Set New Price Targets

SLB has been the subject of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. JPMorgan Chase & Co. cut their target price on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Piper Sandler lowered their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Morgan Stanley cut their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, Wells Fargo & Company lowered their target price on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Trading Down 0.1 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The firm has a market capitalization of $60.98 billion, a price-to-earnings ratio of 13.88, a P/E/G ratio of 1.54 and a beta of 1.52. The business has a fifty day moving average price of $42.21 and a 200 day moving average price of $44.90.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $0.78 EPS. As a group, equities analysts forecast that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.55%. Schlumberger’s dividend payout ratio is currently 35.37%.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Several large investors have recently bought and sold shares of the company. Duality Advisers LP purchased a new stake in Schlumberger during the 1st quarter worth $861,000. Montag A & Associates Inc. lifted its stake in shares of Schlumberger by 13.1% in the first quarter. Montag A & Associates Inc. now owns 12,364 shares of the oil and gas company’s stock worth $681,000 after acquiring an additional 1,435 shares in the last quarter. Atomi Financial Group Inc. boosted its holdings in Schlumberger by 43.1% in the first quarter. Atomi Financial Group Inc. now owns 7,224 shares of the oil and gas company’s stock valued at $396,000 after purchasing an additional 2,176 shares during the last quarter. NorthRock Partners LLC grew its stake in Schlumberger by 42.0% during the 1st quarter. NorthRock Partners LLC now owns 20,995 shares of the oil and gas company’s stock valued at $1,151,000 after purchasing an additional 6,211 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its holdings in Schlumberger by 1.1% during the 1st quarter. Meeder Advisory Services Inc. now owns 29,020 shares of the oil and gas company’s stock worth $1,591,000 after purchasing an additional 308 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

About Schlumberger

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.