Schlumberger (NYSE:SLB) Shares Up 1.4% – Time to Buy?

Shares of Schlumberger Limited (NYSE:SLB) shot up 1.4% on Thursday . The stock traded as high as $45.12 and last traded at $44.85. 2,457,101 shares were traded during trading, a decline of 78% from the average session volume of 11,031,389 shares. The stock had previously closed at $44.21.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of research analyst reports. Barclays reduced their price target on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Benchmark reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Piper Sandler cut their price objective on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Susquehanna cut their price target on shares of Schlumberger from $70.00 to $60.00 and set a “positive” rating on the stock in a research note on Friday. Finally, Bank of America lowered their price objective on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and a consensus target price of $63.42.

Schlumberger Stock Performance

The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The stock has a fifty day moving average price of $43.10 and a 200-day moving average price of $46.47. The firm has a market cap of $63.57 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 0.95 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. Schlumberger’s quarterly revenue was up 12.8% on a year-over-year basis. On average, analysts expect that Schlumberger Limited will post 3.47 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.46%. The ex-dividend date was Wednesday, September 4th. Schlumberger’s payout ratio is 35.95%.

Insider Activity

In related news, Director Vijay Kasibhatla sold 10,000 shares of the company’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 of the company’s stock, valued at $3,073,428.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the transaction, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at $10,141,615.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock valued at $9,048,624 in the last three months. 0.26% of the stock is currently owned by company insiders.

Institutional Trading of Schlumberger

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Crescent Grove Advisors LLC acquired a new stake in shares of Schlumberger during the 2nd quarter worth about $257,000. National Bank of Canada FI raised its holdings in Schlumberger by 15.0% in the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after acquiring an additional 51,637 shares during the last quarter. Mission Wealth Management LP purchased a new position in shares of Schlumberger during the 1st quarter worth $245,000. Public Sector Pension Investment Board boosted its holdings in shares of Schlumberger by 0.6% during the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after purchasing an additional 11,813 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of Schlumberger by 9.0% in the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after purchasing an additional 64,974 shares during the period. 81.99% of the stock is currently owned by hedge funds and other 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.