Susquehanna Trims Schlumberger (NYSE:SLB) Target Price to $60.00

Schlumberger (NYSE:SLB) had its target price reduced by Susquehanna from $70.00 to $60.00 in a research note issued to investors on Friday, Benzinga reports. Susquehanna currently has a positive rating on the oil and gas company’s stock.

Several other analysts also recently issued reports on the company. Piper Sandler lowered their price target on Schlumberger from $71.00 to $66.00 and set an overweight rating for the company in a report on Monday, July 15th. Dbs Bank assumed coverage on Schlumberger in a research note on Wednesday, September 18th. They issued a buy rating and a $64.50 target price for the company. Barclays reduced their price target on Schlumberger from $70.00 to $67.00 and set an overweight rating on the stock in a research report on Tuesday, July 23rd. Morgan Stanley lowered their price objective on shares of Schlumberger from $65.00 to $60.00 and set an overweight rating for the company in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Schlumberger from $64.00 to $60.00 and set an overweight rating on the stock in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Schlumberger currently has an average rating of Moderate Buy and an average target price of $63.42.

Schlumberger Stock Performance

Schlumberger stock opened at $44.78 on Friday. The company has a market cap of $63.58 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 0.96 and a beta of 1.51. Schlumberger has a 12 month low of $38.66 and a 12 month high of $61.20. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The stock’s 50-day moving average is $43.10 and its 200-day moving average is $46.36.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $9.08 billion. During the same quarter last year, the firm posted $0.72 earnings per share. Schlumberger’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities analysts anticipate that Schlumberger will post 3.47 earnings per share for the current year.

Schlumberger Announces Dividend

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

Insider Activity at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 transaction, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety 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.

Hedge Funds Weigh In On Schlumberger

Institutional investors have recently modified their holdings of the company. ORG Partners LLC lifted its position in Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares during the last quarter. Register Financial Advisors LLC bought a new stake in shares of Schlumberger during the first quarter valued at approximately $27,000. Bruce G. Allen Investments LLC boosted its position 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 worth $28,000 after buying an additional 392 shares during the period. Unique Wealth Strategies LLC bought a new position in Schlumberger in the 2nd quarter worth approximately $30,000. Finally, Manchester Capital Management LLC increased its position in Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares during the period. Institutional investors 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.