Schlumberger (NYSE:SLB) Stock Price Up 0.3% – Still a Buy?

Schlumberger Limited (NYSE:SLB)’s stock price shot up 0.3% during trading on Thursday . The company traded as high as $41.38 and last traded at $41.07. 2,772,774 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 14,969,898 shares. The stock had previously closed at $40.94.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SLB shares. JPMorgan Chase & Co. lifted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Bank of America cut their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Piper Sandler initiated coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Finally, Wells Fargo & Company cut their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Trading Down 2.0 %

The company has a 50 day simple moving average of $40.49 and a 200 day simple moving average of $42.58. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $56.32 billion, a PE ratio of 12.93, a P/E/G ratio of 9.70 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its quarterly 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 business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company 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. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.84%. Schlumberger’s payout ratio is presently 35.37%.

Insider Transactions at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the sale, the director now owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the transaction, the vice president now directly owns 11,240 shares in the company, valued at approximately $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 263,782 shares of company stock worth $11,442,229 over the last ninety days. 0.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Schlumberger

Institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC boosted its position in Schlumberger by 9.3% during the fourth quarter. Global Retirement Partners LLC now owns 5,383 shares of the oil and gas company’s stock worth $206,000 after purchasing an additional 457 shares in the last quarter. Callahan Advisors LLC grew its stake in Schlumberger by 0.7% in the 4th quarter. Callahan Advisors LLC now owns 251,124 shares of the oil and gas company’s stock valued at $9,628,000 after acquiring an additional 1,694 shares during the last quarter. Hara Capital LLC grew its stake in Schlumberger by 697.0% in the 4th quarter. Hara Capital LLC now owns 78,977 shares of the oil and gas company’s stock valued at $3,028,000 after acquiring an additional 69,068 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in Schlumberger by 10.9% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 46,637 shares of the oil and gas company’s stock valued at $1,788,000 after acquiring an additional 4,594 shares in the last quarter. Finally, BKM Wealth Management LLC raised its position in Schlumberger by 4.2% during the fourth quarter. BKM Wealth Management LLC now owns 13,705 shares of the oil and gas company’s stock worth $525,000 after acquiring an additional 558 shares during the last quarter. 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.