Recent Research Analysts’ Ratings Changes for Schlumberger (SLB)

Posted by Jessica Moore on Dec 19th, 2024

Schlumberger (NYSE: SLB) has recently received a number of price target changes and ratings updates:

12/19/2024 – Schlumberger is now covered by analysts at Piper Sandler. They set a “neutral” rating and a $47.00 price target on the stock.
12/19/2024 – Schlumberger had its price target lowered by analysts at Citigroup Inc. from $53.00 to $50.00. They now have a “buy” rating on the stock.
12/18/2024 – Schlumberger had its price target lowered by analysts at Barclays PLC from $61.00 to $53.00. They now have an “overweight” rating on the stock.
12/17/2024 – Schlumberger had its price target lowered by analysts at Wells Fargo & Company from $49.00 to $46.00. They now have an “equal weight” rating on the stock.
12/10/2024 – Schlumberger was downgraded by analysts at Atb Cap Markets from a “strong-buy” rating to a “hold” rating.
12/9/2024 – Schlumberger had its price target lowered by analysts at Citigroup Inc. from $54.00 to $53.00. They now have a “buy” rating on the stock.
11/12/2024 – Schlumberger was upgraded by analysts at Sanford C. Bernstein to a “strong-buy” rating.
10/22/2024 – Schlumberger had its price target lowered by analysts at Citigroup Inc. from $60.00 to $54.00. They now have a “buy” rating on the stock.
10/21/2024 – Schlumberger had its price target lowered by analysts at Susquehanna from $60.00 to $56.00. They now have a “positive” rating on the stock.
10/21/2024 – Schlumberger had its price target lowered by analysts at Evercore ISI from $74.00 to $62.00. They now have an “outperform” rating on the stock.
10/21/2024 – Schlumberger had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $60.00 price target on the stock, down previously from $62.00.
10/21/2024 – Schlumberger had its price target lowered by analysts at TD Cowen from $68.00 to $65.00. They now have a “buy” rating on the stock.

Schlumberger Price Performance

Shares of NYSE SLB traded down $0.42 during midday trading on Thursday, reaching $36.91. 16,156,003 shares of the stock traded hands, compared to its average volume of 11,223,708. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The company’s 50 day moving average is $42.38 and its 200 day moving average is $43.85. The stock has a market capitalization of $52.12 billion, a PE ratio of 11.87, a P/E/G ratio of 1.42 and a beta of 1.51.

Schlumberger (NYSE:SLB – Get Free Report) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Hedge funds have recently made changes to their positions in the company. Financial Advocates Investment Management boosted its holdings in 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 purchasing an additional 218 shares in the last quarter. Chilton Capital Management LLC increased its holdings in shares of 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 valued at $1,236,000 after purchasing an additional 219 shares in the last quarter. Grove Bank & Trust grew its holdings in shares of Schlumberger by 17.4% in the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after acquiring an additional 224 shares during the period. Addison Advisors LLC increased its stake in Schlumberger by 6.5% in the 2nd quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock valued at $179,000 after purchasing an additional 233 shares in the last quarter. Finally, Clearstead Trust LLC raised its holdings in Schlumberger by 0.8% during the second quarter. Clearstead Trust LLC now owns 31,529 shares of the oil and gas company’s stock worth $1,488,000 after purchasing an additional 237 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.