Schlumberger (NYSE:SLB) Stock Price Up 0.3% – Still a Buy?

by · The Cerbat Gem

Shares of Schlumberger Limited (NYSE:SLB – Get Free Report) traded 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 mid-day trading, a decline of 83% from the average session volume of 11,226,744 shares. The stock had previously closed at $43.24.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SLB shares. Morgan Stanley lowered their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. UBS Group dropped their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Citigroup decreased their price target on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Evercore ISI cut their price objective on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Finally, Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

View Our Latest Stock Report on Schlumberger

Schlumberger Stock Down 0.1 %

The stock’s fifty day simple moving average is $42.25 and its two-hundred day simple moving average is $44.96. The stock has a market capitalization of $60.98 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 1.54 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48.

Schlumberger (NYSE:SLB – Get Free Report) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same quarter in the previous year, the company posted $0.78 EPS. The business’s revenue was up 10.2% on a year-over-year basis. As a group, research analysts expect that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Manchester Capital Management LLC raised its stake in shares of Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares during the period. Advisory Services Network LLC lifted its holdings in shares of Schlumberger by 55.3% in the 1st quarter. Advisory Services Network LLC now owns 79,022 shares of the oil and gas company’s stock worth $4,331,000 after acquiring an additional 28,152 shares during the last quarter. Duality Advisers LP bought a new position in shares of Schlumberger during the first quarter valued at about $861,000. Envestnet Portfolio Solutions Inc. boosted its position in Schlumberger by 93.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 163,445 shares of the oil and gas company’s stock valued at $8,958,000 after buying an additional 78,816 shares during the period. Finally, Hilltop National Bank purchased a new position in shares of Schlumberger during the first quarter valued at approximately $377,000. 81.99% of the stock is owned by institutional investors.

About Schlumberger

(Get Free Report)

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.

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