Schlumberger (NYSE:SLB) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Schlumberger (NYSE:SLB) in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a $69.00 price target on the oil and gas company’s stock.

SLB has been the subject of a number of other research reports. Morgan Stanley restated an overweight rating and issued a $65.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Citigroup cut their price objective on Schlumberger from $65.00 to $62.00 and set a buy rating for the company in a report on Friday, June 28th. HSBC reiterated a buy rating and set a $71.00 price objective on shares of Schlumberger in a report on Thursday, April 4th. Bank of America cut their price objective on Schlumberger from $62.00 to $58.00 and set a buy rating for the company in a report on Monday, July 15th. Finally, Stifel Nicolaus restated a buy rating and set a $64.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Two equities research 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 a consensus rating of Moderate Buy and a consensus target price of $67.56.

Schlumberger Price Performance

SLB opened at $48.23 on Monday. The stock has a fifty day moving average of $46.31 and a 200-day moving average of $48.99. The firm has a market capitalization of $68.94 billion, a P/E ratio of 16.02, a PEG ratio of 1.02 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 quick ratio of 1.13, a current ratio of 1.49 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The company had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. Equities analysts forecast that Schlumberger will post 3.5 EPS for the current fiscal year.

Schlumberger Dividend Announcement

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

Insiders Place Their Bets

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger 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 completion of the sale, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vijay Kasibhatla sold 10,000 shares of the business’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 completion of the transaction, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 286,874 shares of company stock valued at $14,148,517. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLB. Turtle Creek Wealth Advisors LLC acquired a new position in Schlumberger in the 4th quarter worth $26,000. Register Financial Advisors LLC acquired a new position in Schlumberger in the 1st quarter worth $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 acquired a new position in Schlumberger in the 2nd quarter worth $30,000. Finally, Manchester Capital Management LLC lifted its position 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 worth $31,000 after buying an additional 426 shares in the last quarter. 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.