StockNews.com Lowers Schlumberger (NYSE:SLB) to Hold

StockNews.com lowered shares of Schlumberger (NYSE:SLBGet Rating) from a buy rating to a hold rating in a research report report published on Wednesday.

Other analysts also recently issued reports about the company. Benchmark upgraded Schlumberger from a hold rating to a buy rating and set a $55.00 price target for the company in a report on Wednesday, July 27th. Piper Sandler upgraded Schlumberger from a neutral rating to an overweight rating and raised their target price for the company from $43.00 to $55.00 in a research note on Monday, April 11th. Morgan Stanley reduced their target price on Schlumberger from $50.00 to $45.00 and set an overweight rating for the company in a research note on Wednesday, July 13th. Stifel Nicolaus raised their target price on Schlumberger from $44.00 to $50.00 in a research note on Friday, April 8th. Finally, The Goldman Sachs Group reduced their target price on Schlumberger from $54.00 to $45.00 and set a buy rating for the company in a research note on Wednesday, July 13th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $47.01.

Schlumberger Stock Up 2.1 %

Shares of NYSE:SLB opened at $34.66 on Wednesday. The firm has a market cap of $49.02 billion, a P/E ratio of 18.84, a P/E/G ratio of 0.46 and a beta of 1.86. The company has a quick ratio of 0.98, a current ratio of 1.35 and a debt-to-equity ratio of 0.78. Schlumberger has a 12-month low of $25.90 and a 12-month high of $49.83. The business has a fifty day simple moving average of $38.08 and a 200 day simple moving average of $39.82.

Schlumberger (NYSE:SLBGet Rating) last issued its quarterly earnings results on Friday, July 22nd. The oil and gas company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. Schlumberger had a return on equity of 15.06% and a net margin of 10.56%. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period last year, the business posted $0.30 EPS. The business’s revenue was up 20.2% compared to the same quarter last year. Analysts predict that Schlumberger will post 2 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Wednesday, September 7th will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Tuesday, September 6th. Schlumberger’s dividend payout ratio is presently 38.04%.

Insiders Place Their Bets

In other Schlumberger news, major shareholder Limited/Nv Schlumberger sold 12,032,500 shares of the business’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $17.00, for a total value of $204,552,500.00. Following the completion of the sale, the insider now directly owns 23,069,461 shares of the company’s stock, valued at $392,180,837. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Limited/Nv Schlumberger sold 12,032,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $17.00, for a total transaction of $204,552,500.00. Following the completion of the transaction, the insider now owns 23,069,461 shares in the company, valued at $392,180,837. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Gavin Rennick sold 10,759 shares of Schlumberger stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $46.70, for a total transaction of $502,445.30. Following the completion of the sale, the insider now owns 38,044 shares in the company, valued at approximately $1,776,654.80. The disclosure for this sale can be found here. Insiders sold 12,047,459 shares of company stock valued at $205,224,121 over the last three months. Insiders own 0.28% of the company’s stock.

Institutional Trading of Schlumberger

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sugarloaf Wealth Management LLC lifted its position in Schlumberger by 1,059.6% during the first quarter. Sugarloaf Wealth Management LLC now owns 603 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 551 shares during the period. JFS Wealth Advisors LLC grew its holdings in Schlumberger by 95.6% in the first quarter. JFS Wealth Advisors LLC now owns 618 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 302 shares during the period. Acadian Asset Management LLC bought a new position in shares of Schlumberger during the first quarter valued at approximately $25,000. WD Rutherford LLC purchased a new position in shares of Schlumberger during the first quarter valued at approximately $26,000. Finally, Crewe Advisors LLC lifted its holdings in shares of Schlumberger by 768.4% during the first quarter. Crewe Advisors LLC now owns 660 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 584 shares during the last quarter. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

About Schlumberger

(Get Rating)

Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

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Analyst Recommendations for Schlumberger (NYSE:SLB)

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