Schlumberger (NYSE:SLB) Price Target Cut to $63.00

Schlumberger (NYSE:SLB) had its target price decreased by Barclays from $67.00 to $63.00 in a research report sent to investors on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued reports about the stock. Dbs Bank started coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price on the stock. Citigroup lowered their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. 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 report on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Finally, Evercore ISI lifted their price target on shares of Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $62.97.

Schlumberger Trading Down 4.7 %

Shares of SLB opened at $41.92 on Wednesday. Schlumberger has a fifty-two week low of $38.66 and a fifty-two week high of $60.85. The stock has a fifty day moving average of $43.10 and a two-hundred day moving average of $46.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The company has a market capitalization of $59.52 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 0.96 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same period in the prior year, the business posted $0.78 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, analysts forecast that Schlumberger will post 3.46 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.62%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.95%.

Insider Activity

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the transaction, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Schlumberger

Large investors have recently bought and sold shares of the stock. ORG Partners LLC boosted its holdings in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares in the last quarter. Register Financial Advisors LLC bought a new position in Schlumberger during the 1st quarter valued at $27,000. Bruce G. Allen Investments LLC increased its position in shares of Schlumberger by 204.2% during the 2nd 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 during the period. Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger in the 2nd quarter worth $30,000. Finally, Manchester Capital Management LLC lifted its holdings in shares of Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares during the period. Institutional investors and hedge funds 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.