Schlumberger (NYSE:SLB) Price Target Lowered to $54.00 at Bank of America

Schlumberger (NYSE:SLB) had its target price lowered by Bank of America from $58.00 to $54.00 in a report released on Monday, Benzinga reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

A number of other equities analysts have also recently weighed in on SLB. UBS Group lowered their price target on Schlumberger from $63.00 to $57.00 and set a buy rating for the company in a report on Wednesday, September 18th. BMO Capital Markets lowered their price target on Schlumberger from $60.00 to $58.00 and set an outperform rating for the company in a report on Thursday, October 10th. Wells Fargo & Company lowered their price target on Schlumberger from $53.00 to $49.00 and set an equal weight rating for the company in a report on Wednesday, September 25th. TD Cowen increased their price target on Schlumberger from $62.00 to $64.00 and gave the stock a buy rating in a report on Monday, July 22nd. Finally, Citigroup lowered their price target on Schlumberger from $65.00 to $62.00 and set a buy rating for the company in a report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Schlumberger has an average rating of Moderate Buy and an average target price of $63.19.

Schlumberger Stock Down 0.2 %

Shares of NYSE:SLB opened at $44.70 on Monday. 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 business has a fifty day moving average of $43.12 and a two-hundred day moving average of $46.29. The stock has a market cap of $63.47 billion, a P/E ratio of 14.61, a PEG ratio of 0.96 and a beta of 1.51. Schlumberger has a 52-week low of $38.66 and a 52-week high of $61.20.

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

Schlumberger Dividend Announcement

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

Insider Transactions at Schlumberger

In other news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the transaction, the chief financial officer now owns 203,076 shares in the company, valued at $10,141,615.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,716 shares of company stock valued at $9,048,624. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital World Investors boosted its stake in shares of Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after buying an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Schlumberger by 14.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after purchasing an additional 10,606,191 shares during the last quarter. Boston Partners raised its holdings in Schlumberger by 35.8% during the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after purchasing an additional 3,069,395 shares during the last quarter. Ceredex Value Advisors LLC acquired a new position in Schlumberger during the second quarter worth $92,944,000. Finally, 1832 Asset Management L.P. acquired a new position in Schlumberger during the second quarter worth $91,364,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

About Schlumberger

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.