Schlumberger (NYSE:SLB) PT Lowered to $58.00 at BMO Capital Markets

Schlumberger (NYSE:SLB) had its price objective cut by BMO Capital Markets from $60.00 to $58.00 in a report published on Thursday, Benzinga reports. They currently have an outperform rating on the oil and gas company’s stock.

A number of other research firms have also commented on SLB. Dbs Bank started coverage on Schlumberger in a research note on Wednesday, September 18th. They set a buy rating and a $64.50 price objective on the stock. Royal Bank of Canada reaffirmed an outperform rating and issued a $69.00 price target on shares of Schlumberger in a research note on Thursday, October 3rd. Evercore ISI increased their price objective on shares of Schlumberger from $73.00 to $74.00 and gave the stock an outperform rating in a research note on Monday, July 22nd. Morgan Stanley decreased their price objective on shares of Schlumberger from $65.00 to $60.00 and set an overweight rating on the stock in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. lowered their price target on Schlumberger from $64.00 to $60.00 and set an overweight rating for the company in a report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Schlumberger has an average rating of Moderate Buy and a consensus price target of $63.42.

Schlumberger Stock Up 0.4 %

SLB opened at $44.78 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The stock has a fifty day moving average of $43.10 and a 200-day moving average of $46.42. Schlumberger has a fifty-two week low of $38.66 and a fifty-two week high of $61.20. The company has a market capitalization of $64.01 billion, a P/E ratio of 14.88, a P/E/G ratio of 0.95 and a beta of 1.51.

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

Schlumberger Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.46%. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Insider Activity at Schlumberger

In other news, CFO Stephane Biguet sold 50,048 shares of the business’s 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 transaction, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the sale, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The trade was a 0.00 % decrease in their ownership of the stock. 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 the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the transaction, the chief financial officer now owns 203,076 shares in the company, valued at $10,141,615.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock worth $9,048,624 over the last ninety days. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. ORG Partners LLC boosted its position in shares of Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares in the last quarter. Register Financial Advisors LLC bought a new position in Schlumberger in the first quarter worth approximately $27,000. Bruce G. Allen Investments LLC increased its holdings in shares of Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares in the last quarter. Unique Wealth Strategies LLC acquired a new position in shares of Schlumberger during the second quarter worth approximately $30,000. Finally, Manchester Capital Management LLC lifted its holdings in shares of Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Schlumberger Company Profile

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.