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Societe Generale (OTC:) initiated coverage of Schlumberger Limited (NYSE:NYSE:), a global technology and digital solutions provider for the energy industry, with a Buy rating on Tuesday. The bank’s one-year price target for the company stands at $68.45, implying a potential upside of 16.77% from its last close price of $58.62 on Tuesday.
The company, which employs approximately 82,000 people worldwide, has a projected annual revenue of $32.916 billion, marking an estimated increase of 5.53%. Additionally, the non-GAAP EPS is estimated to be $3.02. These projections suggest a positive outlook for Schlumberger in the upcoming financial year.
Schlumberger also declared a regular quarterly dividend of $0.25 per share ($1.00 annualized), yielding 1.71% at the current share price. This announcement continues the company’s trend of dividend growth, with a three-year dividend growth rate standing at 1.00%.
However, the put/call ratio of SLB stands at 1.07, suggesting a bearish sentiment among investors.
Major shareholders in Schlumberger include Vanguard Total Stock Market Index Fund Investor Shares holding 3.13%, Capital World Investors with 3.03%, Wellington Management Group owning 2.41%, Vanguard 500 Index Fund Investor Shares at 2.39%, and GQG Partners holding 2.36%.
It should be noted that Schlumberger reported revenues of $32.92 billion back in 2019, indicating a stable financial performance over the years.
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