Susquehanna Trims Schlumberger (NYSE:SLB) Target Price to $56.00

Schlumberger (NYSE:SLB) had its target price lowered by Susquehanna from $60.00 to $56.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a positive rating on the oil and gas company’s stock.

SLB has been the topic of a number of other reports. Wells Fargo & Company lowered their target price on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Piper Sandler lowered their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Barclays lowered their price target on Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. BMO Capital Markets lowered their price target on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. Finally, Bank of America lowered their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $62.03.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $42.43 on Monday. 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 twelve month low of $38.66 and a twelve month high of $59.05. The stock’s 50 day moving average is $43.07 and its 200-day moving average is $45.87. The firm has a market capitalization of $60.24 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 1.27 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping 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 company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts forecast 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 annualized dividend and a dividend yield of 2.59%. Schlumberger’s payout ratio is 35.37%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SLB. ORG Partners LLC boosted 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 during the period. Register Financial Advisors LLC bought a new position in Schlumberger in the 1st quarter worth about $27,000. Bruce G. Allen Investments LLC boosted its stake 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 worth $28,000 after purchasing an additional 392 shares during the period. Unique Wealth Strategies LLC bought a new position in Schlumberger in the 2nd quarter worth about $30,000. Finally, Manchester Capital Management LLC raised 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 valued at $31,000 after acquiring an additional 426 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

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.