Schlumberger (NYSE:SLB) Reaches New 52-Week Low – Time to Sell?

by · The Markets Daily

Schlumberger Limited (NYSE:SLB – Get Free Report)’s stock price hit a new 52-week low on Friday . The company traded as low as $35.67 and last traded at $35.21, with a volume of 10164085 shares traded. The stock had previously closed at $39.21.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Piper Sandler began coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price target on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Finally, Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.69.

Check Out Our Latest Report on SLB

Schlumberger Stock Down 11.4 %

The firm’s 50 day moving average is $41.18 and its 200-day moving average is $41.49. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The firm has a market cap of $47.25 billion, a PE ratio of 11.17, a P/E/G ratio of 10.10 and a beta of 1.11.

Schlumberger (NYSE:SLB – Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 earnings per share. As a group, equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th were given a dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Wednesday, February 5th. Schlumberger’s dividend payout ratio is currently 36.66%.

Insider Activity at Schlumberger

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The shares were 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. The trade was a 38.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares of the company’s stock, valued at approximately $1,311,990.68. The trade was a 44.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 315,905 shares of company stock worth $13,609,283 in the last 90 days. 0.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Schlumberger

Several large investors have recently modified their holdings of SLB. State Street Corp lifted its holdings in Schlumberger by 0.6% in the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after buying an additional 528,279 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Schlumberger by 7.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company’s stock worth $2,913,312,000 after buying an additional 5,225,828 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Schlumberger by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company’s stock valued at $1,146,195,000 after buying an additional 1,377,134 shares in the last quarter. Deutsche Bank AG lifted its stake in Schlumberger by 12.2% in the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company’s stock valued at $1,101,804,000 after purchasing an additional 3,119,543 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its position in Schlumberger by 1.2% during the fourth quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company’s stock worth $1,067,254,000 after purchasing an additional 343,261 shares during the period. 81.99% of the stock is currently owned by institutional investors.

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.

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