Schlumberger (NYSE:SLB) PT Lowered to $62.00 at Stifel Nicolaus

Schlumberger (NYSE:SLB) had its price objective reduced by Stifel Nicolaus from $65.00 to $62.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

A number of other brokerages have also issued reports on SLB. Morgan Stanley cut their price target 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. Dbs Bank began 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. TD Cowen boosted their price target on Schlumberger from $62.00 to $64.00 and gave the company a buy rating in a research note on Monday, July 22nd. Barclays reduced their price objective on Schlumberger from $70.00 to $67.00 and set an overweight rating for the company in a research note on Tuesday, July 23rd. Finally, Susquehanna dropped their target price on Schlumberger from $70.00 to $60.00 and set a positive rating on the stock in a research report on Friday. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $63.42.

Schlumberger Stock Up 0.4 %

Schlumberger stock opened at $44.78 on Friday. Schlumberger has a 1-year low of $38.66 and a 1-year high of $61.20. The business has a fifty day moving average price of $43.10 and a 200-day moving average price of $46.36. 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 has a market capitalization of $63.58 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 0.96 and a beta of 1.51.

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

Schlumberger Announces Dividend

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

Insider Buying and Selling

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s 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 completion of the sale, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the transaction, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction dated 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 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger in the first quarter valued at about $27,000. Manchester Capital Management LLC grew its stake in Schlumberger by 297.9% during 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 in the last quarter. Bruce G. Allen Investments LLC raised its holdings in Schlumberger by 204.2% in the 2nd 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 during the last quarter. ORG Partners LLC lifted its stake in Schlumberger by 393.5% in 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. Finally, Transcendent Capital Group LLC acquired a new position in shares of Schlumberger during the 4th quarter worth approximately $32,000. 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.