Schlumberger (NYSE:SLB) PT Lowered to $65.00 at TD Cowen

Schlumberger (NYSE:SLB) had its price objective cut by TD Cowen from $68.00 to $65.00 in a report published on Monday, MarketBeat.com 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 dropped their target price on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. JPMorgan Chase & Co. lowered their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Benchmark reaffirmed a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. 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, October 11th. Finally, Morgan Stanley cut their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Trading Up 0.5 %

Schlumberger stock opened at $42.13 on Monday. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Schlumberger has a 12-month low of $38.66 and a 12-month high of $59.05. The firm has a market capitalization of $59.82 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 1.27 and a beta of 1.51. The firm has a 50 day moving average of $43.00 and a 200 day moving average of $45.75.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 EPS. As a group, research analysts predict that Schlumberger will post 3.44 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.61%. Schlumberger’s dividend payout ratio is currently 35.37%.

Institutional Investors Weigh In On Schlumberger

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Crescent Grove Advisors LLC purchased a new position in shares of Schlumberger during the second quarter worth about $257,000. National Bank of Canada FI increased its position in shares of Schlumberger by 15.0% in the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after buying an additional 51,637 shares in the last quarter. Mission Wealth Management LP acquired a new position in Schlumberger during the first quarter worth about $245,000. 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 purchasing an additional 11,813 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Schlumberger by 9.0% in the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after acquiring an additional 64,974 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.