Schlumberger (NYSE:SLB) Price Target Raised to $54.00

Schlumberger (NYSE:SLB) had its price target increased by Citigroup from $50.00 to $54.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

A number of other equities research analysts have also recently commented on SLB. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Wells Fargo & Company reduced their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. TD Cowen raised their price target on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Piper Sandler began coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective on the stock. Six 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Stock Up 0.9 %

NYSE:SLB opened at $41.99 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm’s 50-day moving average price is $40.79 and its 200-day moving average price is $42.79. The company has a market capitalization of $59.29 billion, a PE ratio of 13.50, a P/E/G ratio of 3.58 and a beta of 1.52. Schlumberger has a 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9,241,140 billion. During the same quarter last year, the firm earned $0.86 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities analysts predict that Schlumberger will post 3.33 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.72%. Schlumberger’s payout ratio is 35.37%.

Insider Activity

In other Schlumberger news, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the sale, the executive vice president now owns 184,626 shares in the company, valued at $8,140,160.34. This trade represents a 40.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Dianne B. Ralston sold 43,161 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the sale, the insider now directly owns 235,024 shares of the company’s stock, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,258 shares of company stock valued at $8,732,604 in the last ninety days. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its position in Schlumberger by 12,289.6% during the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after purchasing an additional 12,938,082 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Schlumberger by 20.6% during 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 valued at $470,425,000 after buying an additional 1,916,851 shares during the last quarter. Legal & General Group Plc increased 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 during the period. Merewether Investment Management LP acquired a new position in Schlumberger in the 2nd quarter worth approximately $42,957,000. Finally, Weiss Asset Management LP acquired a new stake in shares of Schlumberger in the third quarter worth $37,322,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Company Profile

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.