Schlumberger (NYSE:SLB) Stock Price Up 1.4% – Time to Buy?

Schlumberger Limited (NYSE:SLB)’s stock price traded up 1.4% during mid-day trading on Tuesday . The stock traded as high as $44.97 and last traded at $44.89. 3,131,912 shares were traded during mid-day trading, a decline of 72% from the average session volume of 11,247,750 shares. The stock had previously closed at $44.29.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SLB. Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 price target (down from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Dbs Bank assumed coverage on Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. UBS Group dropped their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Bank of America cut their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Trading Down 0.3 %

The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The firm has a market cap of $61.36 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 1.56 and a beta of 1.52. The business’s 50 day moving average is $42.31 and its 200-day moving average is $44.76.

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

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.53%. Schlumberger’s dividend payout ratio is currently 35.37%.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger 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 22.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Schlumberger

Institutional investors and hedge funds have recently bought and sold shares of the business. ORG Partners LLC raised its holdings in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after buying an additional 484 shares during the period. Bruce G. Allen Investments LLC boosted its position in Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Schlumberger during the 3rd quarter worth about $29,000. Unique Wealth Strategies LLC acquired a new stake in Schlumberger in the 2nd quarter worth $30,000. Finally, Riverview Trust Co boosted its stake in Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after buying an additional 308 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

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.