Analysts’ Weekly Ratings Changes for Schlumberger (SLB)

Posted by Mickey Rousseau on Jan 9th, 2025

A number of firms have modified their ratings and price targets on shares of Schlumberger (NYSE: SLB) recently:

1/8/2025 – Schlumberger had its price target lowered by analysts at TD Cowen from $65.00 to $53.00. They now have a “buy” rating on the stock.
1/3/2025 – Schlumberger had its price target lowered by analysts at Jefferies Financial Group Inc. from $64.00 to $61.00. They now have a “buy” rating on the stock.
1/2/2025 – Schlumberger had its price target lowered by analysts at JPMorgan Chase & Co. from $55.00 to $48.00. They now have an “overweight” rating on the stock.
12/23/2024 – Schlumberger had its price target lowered by analysts at Stifel Nicolaus from $60.00 to $59.00. They now have a “buy” rating on the stock.
12/20/2024 – Schlumberger was downgraded by analysts at Griffin Securities from a “buy” rating to a “neutral” rating.
12/19/2024 – Schlumberger is now covered by analysts at Piper Sandler. They set a “neutral” rating and a $47.00 price target on the stock.
12/19/2024 – Schlumberger had its price target lowered by analysts at Citigroup Inc. from $53.00 to $50.00. They now have a “buy” rating on the stock.
12/18/2024 – Schlumberger had its price target lowered by analysts at Barclays PLC from $61.00 to $53.00. They now have an “overweight” rating on the stock.
12/18/2024 – Schlumberger was upgraded by analysts at Piper Sandler to a “hold” rating.
12/17/2024 – Schlumberger had its price target lowered by analysts at Wells Fargo & Company from $49.00 to $46.00. They now have an “equal weight” rating on the stock.
12/10/2024 – Schlumberger was downgraded by analysts at Atb Cap Markets from a “strong-buy” rating to a “hold” rating.
12/9/2024 – Schlumberger had its price target lowered by analysts at Citigroup Inc. from $54.00 to $53.00. They now have a “buy” rating on the stock.
11/12/2024 – Schlumberger was upgraded by analysts at Sanford C. Bernstein to a “strong-buy” rating.

Schlumberger Trading Down 1.5 %

Shares of NYSE:SLB traded down $0.60 during trading on Thursday, reaching $38.77. 11,318,049 shares of the company traded hands, compared to its average volume of 10,181,454. The business’s fifty day moving average is $41.02 and its 200-day moving average is $43.19. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $54.75 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 1.42 and a beta of 1.52.

Schlumberger (NYSE:SLB – Get Free Report) last announced its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. Schlumberger’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 earnings per share. As a group, analysts forecast that Schlumberger Limited will post 3.39 EPS for the current 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 issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.84%. Schlumberger’s payout ratio is presently 35.37%.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp boosted its stake in Schlumberger by 0.6% during the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after buying an additional 528,279 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Schlumberger by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after acquiring an additional 239,966 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Schlumberger by 20.6% in the third 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 purchasing an additional 1,916,851 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Schlumberger by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock valued at $335,214,000 after purchasing an additional 31,718 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

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.