Jefferies Financial Group Issues Pessimistic Forecast for Schlumberger (NYSE:SLB) Stock Price

Schlumberger (NYSE:SLB) had its target price reduced by Jefferies Financial Group from $64.00 to $61.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

SLB has been the topic of a number of other reports. Citigroup decreased their price target on shares of Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. UBS Group decreased their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Morgan Stanley dropped their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. BMO Capital Markets decreased their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Finally, TD Cowen dropped their target price on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.25.

Schlumberger Stock Up 0.5 %

Shares of SLB opened at $38.59 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market cap of $54.50 billion, a P/E ratio of 12.41, a PEG ratio of 1.42 and a beta of 1.51. The stock’s 50 day moving average is $41.19 and its two-hundred day moving average is $43.37. Schlumberger has a 12 month low of $36.52 and a 12 month high of $55.69.

Schlumberger (NYSE:SLB) last released its quarterly 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. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. Analysts predict that Schlumberger will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Schlumberger

Institutional investors and hedge funds have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky lifted its stake in Schlumberger by 25.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after acquiring an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after buying an additional 16,350 shares during the last quarter. Victory Capital Management Inc. raised its stake in Schlumberger by 8.7% in the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after buying an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after acquiring an additional 14,376 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its position in shares of Schlumberger by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after acquiring an additional 11,813 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

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.