Schlumberger (NYSE:SLB) Price Target Raised to $64.00

Schlumberger (NYSE:SLB) had its target price lifted by TD Cowen from $62.00 to $64.00 in a report published on Monday morning, Marketbeat reports. TD Cowen currently has a buy rating on the oil and gas company’s stock.

A number of other analysts also recently weighed in on the company. Citigroup dropped their target price on Schlumberger from $65.00 to $62.00 and set a buy rating for the company in a research report on Friday, June 28th. BMO Capital Markets dropped their target price on Schlumberger from $66.00 to $64.00 and set an outperform rating for the company in a research report on Monday, April 22nd. StockNews.com cut Schlumberger from a buy rating to a hold rating in a research note on Thursday, June 6th. Royal Bank of Canada lifted their price target on Schlumberger from $66.00 to $69.00 and gave the stock an outperform rating in a research note on Wednesday, April 3rd. Finally, The Goldman Sachs Group reaffirmed a buy rating on shares of Schlumberger in a research note on Monday, April 1st. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Schlumberger presently has an average rating of Moderate Buy and an average target price of $67.56.

Schlumberger Stock Performance

Shares of SLB opened at $48.03 on Monday. The stock has a 50-day moving average price of $46.32 and a 200-day moving average price of $48.99. The company has a market cap of $68.65 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 1.06 and a beta of 1.55. Schlumberger has a 12-month low of $42.61 and a 12-month high of $62.12. 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 (NYSE:SLB) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. Schlumberger’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. As a group, equities analysts forecast that Schlumberger will post 3.48 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.29%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Activity at Schlumberger

In related 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 transaction of $492,900.00. Following the sale, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 transaction of $492,900.00. Following the sale, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the sale, the insider now owns 22,518 shares in the company, valued at $977,956.74. The disclosure for this sale can be found here. Insiders have sold 286,874 shares of company stock worth $14,148,517 over the last ninety days. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Schlumberger

Hedge funds have recently added to or reduced their stakes in the stock. Turtle Creek Wealth Advisors LLC bought a new stake in Schlumberger in the fourth quarter worth $26,000. Register Financial Advisors LLC bought a new position in shares of Schlumberger during the first quarter valued at $27,000. Bruce G. Allen Investments LLC lifted 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 purchasing an additional 392 shares in the last quarter. Unique Wealth Strategies LLC bought a new position in shares of Schlumberger during the second quarter valued at $30,000. Finally, Manchester Capital Management LLC lifted its holdings in shares of Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $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.