Royal Bank of Canada Reaffirms Outperform Rating for Schlumberger (NYSE:SLB)

by · The Markets Daily

Royal Bank of Canada reiterated their outperform rating on shares of Schlumberger (NYSE:SLB – Free Report) in a research note published on Thursday morning, Benzinga reports. Royal Bank of Canada currently has a $69.00 price objective on the oil and gas company’s stock.

SLB has been the subject of a number of other reports. Susquehanna reduced their target price on shares of Schlumberger from $77.00 to $70.00 and set a positive rating for the company in a report on Thursday, July 11th. TD Cowen raised their price objective on Schlumberger from $62.00 to $64.00 and gave the stock a buy rating in a research note on Monday, July 22nd. Wells Fargo & Company decreased their target price on Schlumberger from $53.00 to $49.00 and set an equal weight rating on the stock in a report on Wednesday, September 25th. Dbs Bank started coverage on Schlumberger in a report on Wednesday, September 18th. They set a buy rating and a $64.50 target price for the company. Finally, Citigroup dropped their price target on Schlumberger from $65.00 to $62.00 and set a buy rating on the stock in a research note on Friday, June 28th. Two analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, Schlumberger has an average rating of Moderate Buy and a consensus target price of $65.29.

View Our Latest Analysis on Schlumberger

Schlumberger Stock Up 1.3 %

Shares of SLB stock opened at $45.46 on Thursday. Schlumberger has a 1 year low of $38.66 and a 1 year high of $61.20. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The business’s fifty day moving average is $43.34 and its 200-day moving average is $46.70. The stock has a market cap of $64.55 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 0.94 and a beta of 1.51.

Schlumberger (NYSE:SLB – Get Free Report) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same period in the previous year, the company earned $0.72 earnings per share. Schlumberger’s revenue was up 12.8% compared to the same quarter last year. Equities analysts expect that Schlumberger will post 3.48 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a $0.275 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.42%. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Transactions at Schlumberger

In related news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now owns 62,354 shares in the company, valued at $3,073,428.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,716 shares of company stock worth $9,048,624. 0.26% of the stock is owned by corporate insiders.

Institutional Trading of Schlumberger

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Financial Advocates Investment Management boosted its position in shares of Schlumberger by 3.4% in the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 218 shares during the period. Chilton Capital Management LLC grew its position in Schlumberger by 0.8% in the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after purchasing an additional 219 shares during the last quarter. First PREMIER Bank grew its position in Schlumberger by 8.7% in the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 227 shares during the last quarter. Team Hewins LLC increased its holdings in shares of Schlumberger by 3.0% during the 1st quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock worth $436,000 after purchasing an additional 229 shares during the period. Finally, Sunbelt Securities Inc. raised its holdings in Schlumberger by 2.2% in the 1st quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock valued at $578,000 after acquiring an additional 230 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

About Schlumberger

(Get Free Report)

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.

Featured Articles