Fintel reports that on October 10, 2023, Societe Generale initiated coverage of SLB (NYSE:SLB) with a Buy recommendation.
Analyst Price Forecast Suggests 16.77% Upside
As of October 4, 2023, the average one-year price target for SLB is 68.45. The forecasts range from a low of 49.49 to a high of $80.85. The average price target represents an increase of 16.77% from its latest reported closing price of 58.62.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for SLB is 32,916MM, an increase of 5.53%. The projected annual non-GAAP EPS is 3.02.
- For more in-depth coverage of SLB, view the free, crowd-sourced company research report on Finpedia.
SLB Declares $0.25 Dividend
On July 20, 2023 the company declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Shareholders of record as of September 6, 2023 will receive the payment on October 12, 2023. Previously, the company paid $0.25 per share.
At the current share price of $58.62 / share, the stock's dividend yield is 1.71%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.12%, the lowest has been 1.14%, and the highest has been 15.59%. The standard deviation of yields is 2.30 (n=236).
The current dividend yield is 0.62 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.36. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 1.00%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 2431 funds or institutions reporting positions in SLB. This is a decrease of 70 owner(s) or 2.80% in the last quarter. Average portfolio weight of all funds dedicated to SLB is 0.51%, a decrease of 4.90%. Total shares owned by institutions decreased in the last three months by 3.52% to 1,336,223K shares. 
The put/call ratio of SLB is 1.07, indicating a bearish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 44,449K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 44,211K shares, representing an increase of 0.54%. The firm decreased its portfolio allocation in SLB by 7.20% over the last quarter.
Capital World Investors holds 43,080K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 23,195K shares, representing an increase of 46.16%. The firm increased its portfolio allocation in SLB by 72.90% over the last quarter.
Wellington Management Group Llp holds 34,277K shares representing 2.41% ownership of the company. In it's prior filing, the firm reported owning 38,159K shares, representing a decrease of 11.33%. The firm increased its portfolio allocation in SLB by 509.07% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 33,934K shares representing 2.39% ownership of the company. In it's prior filing, the firm reported owning 33,139K shares, representing an increase of 2.34%. The firm decreased its portfolio allocation in SLB by 7.22% over the last quarter.
GQG Partners holds 33,594K shares representing 2.36% ownership of the company. In it's prior filing, the firm reported owning 28,318K shares, representing an increase of 15.71%. The firm increased its portfolio allocation in SLB by 4.30% over the last quarter.
SLB Background Information
(This description is provided by the company.)
Schlumberger is the world's leading provider of technology and digital solutions for reservoir characterization, drilling, production, and processing to the energy industry. With product sales and services in more than 120 countries and employing approximately 82,000 people as of the end of third quarter of 2020 who represent over 170 nationalities, Schlumberger supplies the industry's most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance sustainably. Schlumberger Limited has executive offices in Paris, Houston, London, and The Hague, and reported revenues of $32.92 billion in 2019.
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This story originally appeared on Fintel.
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