Shares of Schlumberger Limited (NYSE:SLB) have received a consensus rating of “Buy” from the twenty-two analysts that are covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $29.84.
Several analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $37.00 target price on shares of Schlumberger in a research note on Thursday, September 9th. TheStreet raised Schlumberger from a “d+” rating to a “c-” rating in a research note on Thursday, June 10th. HSBC raised Schlumberger from a “reduce” rating to a “hold” rating and lifted their target price for the company from $18.10 to $25.00 in a research note on Wednesday, August 4th. Morgan Stanley lifted their target price on Schlumberger from $32.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, July 9th. Finally, Cowen restated an “outperform” rating and set a $29.03 price target (down previously from $32.00) on shares of Schlumberger in a report on Monday, July 26th.
Several institutional investors have recently made changes to their positions in the company. NorthCoast Asset Management LLC boosted its holdings in Schlumberger by 1.9% during the 1st quarter. NorthCoast Asset Management LLC now owns 17,211 shares of the oil and gas company’s stock valued at $468,000 after acquiring an additional 317 shares during the period. Keating Investment Counselors Inc. boosted its holdings in Schlumberger by 0.8% during the 2nd quarter. Keating Investment Counselors Inc. now owns 43,260 shares of the oil and gas company’s stock valued at $1,385,000 after acquiring an additional 350 shares during the period. Quadrant Capital Group LLC boosted its holdings in Schlumberger by 10.2% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,884 shares of the oil and gas company’s stock valued at $124,000 after acquiring an additional 360 shares during the period. Coldstream Capital Management Inc. boosted its holdings in Schlumberger by 2.8% during the 1st quarter. Coldstream Capital Management Inc. now owns 14,037 shares of the oil and gas company’s stock valued at $382,000 after acquiring an additional 376 shares during the period. Finally, Busey Wealth Management boosted its holdings in Schlumberger by 0.3% during the 2nd quarter. Busey Wealth Management now owns 148,303 shares of the oil and gas company’s stock valued at $4,747,000 after acquiring an additional 378 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.
Schlumberger (NYSE:SLB) last issued its earnings results on Thursday, July 22nd. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.52 billion. Schlumberger had a return on equity of 9.96% and a net margin of 4.72%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.05 EPS. Research analysts anticipate that Schlumberger will post 1.25 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 7th. Stockholders of record on Wednesday, September 1st will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, August 31st. Schlumberger’s dividend payout ratio (DPR) is 73.53%.
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 software and seismic businesses with its integrated offering of asset performance solutions.
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