Dbs Bank Initiates Coverage on Schlumberger (NYSE:SLB)

Dbs Bank started coverage on shares of Schlumberger (NYSE:SLB) in a report released on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $64.50 price objective on the oil and gas company’s stock.

SLB has been the subject of a number of other research reports. Piper Sandler decreased their target price on shares of Schlumberger from $71.00 to $66.00 and set an overweight rating for the company in a research report on Monday, July 15th. Barclays dropped their target price on Schlumberger from $70.00 to $67.00 and set an overweight rating on the stock in a report on Tuesday, July 23rd. Royal Bank of Canada restated an outperform rating and issued a $69.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. StockNews.com cut Schlumberger from a buy rating to a hold rating in a research note on Thursday, June 6th. Finally, Morgan Stanley cut their price objective on Schlumberger from $65.00 to $60.00 and set an overweight rating for the company in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $66.29.

Schlumberger Price Performance

SLB stock opened at $42.41 on Wednesday. The stock has a market cap of $60.22 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.86 and a beta of 1.51. The stock has a 50-day moving average price of $44.48 and a two-hundred day moving average price of $47.38. Schlumberger has a 1 year low of $38.66 and a 1 year high of $61.41. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 EPS. Equities analysts forecast that Schlumberger will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is 36.54%.

Insider Transactions at Schlumberger

In related news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Schlumberger

Several hedge funds have recently bought and sold shares of SLB. Gryphon Financial Partners LLC raised its position in Schlumberger by 46.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 6,538 shares of the oil and gas company’s stock valued at $340,000 after purchasing an additional 2,068 shares in the last quarter. Financial Advocates Investment Management boosted its stake in Schlumberger by 25.5% in the fourth quarter. Financial Advocates Investment Management now owns 6,190 shares of the oil and gas company’s stock valued at $322,000 after buying an additional 1,259 shares in the last quarter. Gladstone Institutional Advisory LLC grew its position in Schlumberger by 42.8% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 8,570 shares of the oil and gas company’s stock valued at $446,000 after acquiring an additional 2,570 shares during the last quarter. Clearbridge Investments LLC raised its stake in Schlumberger by 3.0% during the fourth quarter. Clearbridge Investments LLC now owns 638,472 shares of the oil and gas company’s stock worth $33,226,000 after acquiring an additional 18,342 shares in the last quarter. Finally, Sachetta LLC bought a new position in shares of Schlumberger in the fourth quarter worth about $63,000. 81.99% of the stock is owned by institutional investors.

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.