Schlumberger (NYSE:SLB) Trading Up 0.7% – Still a Buy?

Shares of Schlumberger Limited (NYSE:SLB) were up 0.7% on Thursday . The company traded as high as $42.17 and last traded at $41.94. Approximately 4,198,361 shares changed hands during trading, a decline of 71% from the average daily volume of 14,498,571 shares. The stock had previously closed at $41.63.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SLB shares. JPMorgan Chase & Co. lifted their target price on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday. Bank of America decreased their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Piper Sandler initiated coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target on the stock. TD Cowen increased their price objective on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Stifel Nicolaus dropped their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Stock Performance

The firm’s fifty day simple moving average is $40.74 and its 200 day simple moving average is $42.75. The company has a market capitalization of $59.73 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 9.98 and a beta of 1.52. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9,241,140 billion. During the same period last year, the company earned $0.86 earnings per share. Schlumberger’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts predict that Schlumberger Limited will post 3.34 EPS for the current year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. The ex-dividend date 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 yield of 2.70%. Schlumberger’s dividend payout ratio is 35.37%.

Insider Buying and Selling at Schlumberger

In related news, insider Dianne B. Ralston sold 43,161 shares of the company’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 transaction, the insider now owns 235,024 shares in the company, valued at $10,331,655.04. This represents a 15.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares in the company, valued at approximately $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 198,258 shares of company stock valued at $8,732,604. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Hedge funds and other institutional investors have recently made changes to their positions in the company. ORG Partners LLC increased its position in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Schlumberger during the 3rd quarter worth $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Schlumberger during the third quarter worth $37,000. DiNuzzo Private Wealth Inc. lifted its stake in shares of Schlumberger by 1,068.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after buying an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP purchased a new position in shares of Schlumberger in the third quarter worth about $47,000. Hedge funds and other institutional investors 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.