Schlumberger (SLB) – Analysts’ Recent Ratings Changes

Posted by Jeanne O'Marion on Apr 26th, 2024

Several analysts have recently updated their ratings and price targets for Schlumberger (NYSE: SLB):

4/22/2024 – Schlumberger had its “positive” rating reaffirmed by analysts at Susquehanna. They now have a $77.00 price target on the stock.
4/22/2024 – Schlumberger had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $65.00 price target on the stock.
4/22/2024 – Schlumberger had its price target lowered by analysts at BMO Capital Markets from $66.00 to $64.00. They now have an “outperform” rating on the stock.
4/22/2024 – Schlumberger had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $64.00 price target on the stock.
4/22/2024 – Schlumberger had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $68.00 price target on the stock.
4/22/2024 – Schlumberger had its price target lowered by analysts at TD Cowen from $64.00 to $63.00. They now have a “buy” rating on the stock.
4/22/2024 – Schlumberger had its price target lowered by analysts at Bank of America Co. from $63.00 to $62.00. They now have a “buy” rating on the stock.
4/15/2024 – Schlumberger had its price target raised by analysts at Bank of America Co. from $62.00 to $63.00. They now have a “buy” rating on the stock.
4/8/2024 – Schlumberger had its “positive” rating reaffirmed by analysts at Susquehanna. They now have a $77.00 price target on the stock.
4/4/2024 – Schlumberger had its price target lowered by analysts at Barclays PLC from $74.00 to $70.00. They now have an “overweight” rating on the stock.
4/4/2024 – Schlumberger had its “buy” rating reaffirmed by analysts at HSBC Holdings plc. They now have a $71.00 price target on the stock.
4/3/2024 – Schlumberger had its price target raised by analysts at Royal Bank of Canada from $66.00 to $69.00. They now have an “outperform” rating on the stock.
4/3/2024 – Schlumberger had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $68.00 price target on the stock.
4/1/2024 – Schlumberger had its “buy” rating reaffirmed by analysts at The Goldman Sachs Group, Inc..
3/4/2024 – Schlumberger had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $68.00 price target on the stock.

Schlumberger Stock Down 0.1 %

SLB stock traded down $0.07 during midday trading on Friday, reaching $49.37. 5,100,901 shares of the company’s stock traded hands, compared to its average volume of 11,141,875. Schlumberger Limited has a 52 week low of $42.73 and a 52 week high of $62.12. The company has a market cap of $70.47 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 0.95 and a beta of 1.60. The firm’s fifty day moving average price is $51.73 and its 200-day moving average price is $52.23. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB – Get Free Report) last released its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. During the same period in the prior year, the firm posted $0.63 EPS. Schlumberger’s quarterly revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.5 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.23%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is presently 36.54%.

Insiders Place Their Bets

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $52.78, for a total value of $329,875.00. Following the sale, the chief financial officer now directly owns 249,182 shares in the company, valued at $13,151,825.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the transaction, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,545 shares of company stock valued at $4,458,430. Company insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Investment Advisory Services Inc. TX ADV grew its position in shares of Schlumberger by 1.4% in the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 11,968 shares of the oil and gas company’s stock worth $698,000 after buying an additional 171 shares during the last quarter. Stonegate Investment Group LLC raised its stake in Schlumberger by 1.7% in the third quarter. Stonegate Investment Group LLC now owns 10,864 shares of the oil and gas company’s stock worth $633,000 after buying an additional 177 shares in the last quarter. CI Investments Inc. grew its holdings in shares of Schlumberger by 4.9% during the 3rd quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock worth $241,000 after acquiring an additional 192 shares during the period. Montgomery Investment Management Inc. lifted its stake in shares of Schlumberger by 1.9% in the 3rd quarter. Montgomery Investment Management Inc. now owns 10,920 shares of the oil and gas company’s stock valued at $637,000 after purchasing an additional 200 shares during the period. Finally, BCM Advisors LLC raised its holdings in shares of Schlumberger by 1.1% during the first quarter. BCM Advisors LLC now owns 18,904 shares of the oil and gas company’s stock valued at $1,036,000 after purchasing an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.