Evercore ISI Raises Schlumberger (NYSE:SLB) Price Target to $74.00

Schlumberger (NYSE:SLB) had its price target boosted by Evercore ISI from $73.00 to $74.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an outperform rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company cut shares of Schlumberger from an overweight rating to an equal weight rating and decreased their target price for the company from $68.00 to $53.00 in a research report on Monday, April 29th. HSBC reaffirmed a buy rating and issued a $71.00 price target on shares of Schlumberger in a report on Thursday, April 4th. Morgan Stanley reaffirmed an overweight rating and issued a $65.00 price target on shares of Schlumberger in a report on Monday, April 22nd. Benchmark reaffirmed a buy rating and issued a $68.00 price target on shares of Schlumberger in a report on Monday. Finally, TD Cowen raised their price target on shares of Schlumberger from $62.00 to $64.00 and gave the stock a buy rating in a report on Monday. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $67.56.

Schlumberger Trading Up 0.4 %

NYSE:SLB opened at $48.23 on Monday. Schlumberger has a 52 week low of $42.61 and a 52 week high of $62.12. The firm has a 50 day moving average of $46.31 and a 200 day moving average of $48.99. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $68.94 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.05 and a beta of 1.55.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. Schlumberger’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Schlumberger will post 3.49 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.28%. Schlumberger’s dividend payout ratio is presently 36.54%.

Insider Activity at Schlumberger

In related news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the sale, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the transaction, the insider now directly owns 22,518 shares of the company’s stock, valued at $977,956.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 286,874 shares of company stock worth $14,148,517. 0.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On Schlumberger

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Register Financial Advisors LLC purchased a new position in Schlumberger during the first quarter valued at $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in Schlumberger during the fourth quarter worth about $26,000. Manchester Capital Management LLC boosted its position in Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares during the last quarter. Bruce G. Allen Investments LLC boosted its position in 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 acquiring an additional 392 shares during the last quarter. Finally, Transcendent Capital Group LLC acquired a new position in Schlumberger during the fourth quarter worth about $32,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.