Schlumberger (NYSE:SLB) Trading 0.6% Higher – Should You Buy?

Shares of Schlumberger Limited (NYSE:SLB) rose 0.6% during mid-day trading on Wednesday . The company traded as high as $40.85 and last traded at $40.68. Approximately 2,093,826 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 11,115,894 shares. The stock had previously closed at $40.43.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SLB shares. Morgan Stanley reduced their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Stifel Nicolaus restated a “buy” rating and set a $60.00 target price (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Evercore ISI cut their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Wells Fargo & Company reduced their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Finally, UBS Group cut their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Stock Down 0.1 %

The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The firm has a 50-day moving average of $42.71 and a 200 day moving average of $45.35. The stock has a market capitalization of $57.75 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.47 and a beta of 1.51.

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

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Schlumberger

Hedge funds have recently added to or reduced their stakes in the business. Capital World Investors lifted its stake in shares of Schlumberger by 72.3% during the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after buying an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after purchasing an additional 10,606,191 shares during the last quarter. Boston Partners lifted its holdings in Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after purchasing an additional 3,069,395 shares during the last quarter. Ceredex Value Advisors LLC bought a new stake in Schlumberger in the 2nd quarter valued at $92,944,000. Finally, 1832 Asset Management L.P. acquired a new position in Schlumberger in the 2nd quarter valued at $91,364,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

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.