Schlumberger (NYSE:SLB) PT Lowered to $62.00

Schlumberger (NYSE:SLB) had its price objective decreased by Evercore ISI from $74.00 to $62.00 in a research report released on Monday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the oil and gas company’s stock.

Several other equities research analysts have also recently issued reports on SLB. Benchmark reiterated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. UBS Group dropped their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research report on Thursday, October 3rd. Piper Sandler dropped their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Finally, Stifel Nicolaus restated a “buy” rating and set a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a research report on Monday. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Stock Performance

Shares of SLB stock opened at $42.13 on Monday. The firm has a 50 day moving average of $43.00 and a two-hundred day moving average of $45.75. The stock has a market capitalization of $59.82 billion, a PE ratio of 13.55, a P/E/G ratio of 1.27 and a beta of 1.51. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Schlumberger has a 52 week low of $38.66 and a 52 week high of $59.05.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same period last year, the business posted $0.78 earnings per share. Schlumberger’s revenue was up 10.2% compared to the same quarter last year. On average, research analysts predict that Schlumberger will post 3.44 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.61%. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Institutional Investors Weigh In On Schlumberger

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Schlumberger by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock valued at $7,352,771,000 after buying an additional 1,868,688 shares during the period. Capital World Investors lifted its holdings in 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 acquiring an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Schlumberger by 14.1% during the 1st 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 in the last quarter. Legal & General Group Plc grew its stake in shares of Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after purchasing an additional 1,560,684 shares during the period. Finally, Boston Partners increased its holdings in shares of Schlumberger by 35.8% in the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after purchasing an additional 3,069,395 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

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.