Schlumberger (NYSE:SLB) Now Covered by Piper Sandler

Piper Sandler assumed coverage on shares of Schlumberger (NYSE:SLB) in a report released on Thursday, Marketbeat Ratings reports. The firm issued a neutral rating and a $47.00 price target on the oil and gas company’s stock.

A number of other research firms have also recently weighed in on SLB. UBS Group decreased their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Evercore ISI dropped their price objective on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Wells Fargo & Company reduced their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Barclays dropped their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.85.

Schlumberger Stock Performance

Shares of NYSE:SLB opened at $36.91 on Thursday. The business’s 50-day simple moving average is $42.22 and its 200 day simple moving average is $43.80. The company has a market cap of $52.12 billion, a P/E ratio of 11.87, a PEG ratio of 1.42 and a beta of 1.51. 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 has a one year low of $36.52 and a one year high of $55.69.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 earnings per share. On average, sell-side analysts forecast that Schlumberger will post 3.39 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Several large investors have recently made changes to their positions in the company. Ceredex Value Advisors LLC bought a new stake in shares of Schlumberger during the second quarter valued at about $92,944,000. 1832 Asset Management L.P. acquired a new position in Schlumberger during the 2nd quarter valued at about $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Schlumberger by 20.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after buying an additional 1,916,851 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Schlumberger by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after acquiring an additional 1,560,684 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Schlumberger by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock valued at $333,445,000 after acquiring an additional 915,705 shares in 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.