Schlumberger (NYSE:SLB) PT Lowered to $62.00

Schlumberger (NYSE:SLB) had its price target lowered by Evercore ISI from $74.00 to $62.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the oil and gas company’s stock.

SLB has been the topic of several other research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $60.00 price target (down previously from $62.00) on shares of Schlumberger in a research report on Monday. Morgan Stanley cut their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Benchmark reissued a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. BMO Capital Markets cut their price objective on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Finally, Susquehanna dropped their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Stock Down 2.1 %

SLB stock opened at $41.25 on Monday. The stock’s 50 day simple moving average is $43.00 and its 200 day simple moving average is $45.75. The company has a market cap of $58.96 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 1.48 and a beta of 1.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger has a fifty-two week low of $38.66 and a fifty-two week high of $57.75.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. On average, research analysts expect that Schlumberger will post 3.41 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Hedge funds have recently made changes to their positions in the stock. ORG Partners LLC grew its holdings in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares in the last quarter. Register Financial Advisors LLC purchased a new position in Schlumberger during the first quarter valued at approximately $27,000. Bruce G. Allen Investments LLC increased its holdings in 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 worth $28,000 after acquiring an additional 392 shares during the period. Unique Wealth Strategies LLC purchased a new stake in Schlumberger in the 2nd quarter worth approximately $30,000. Finally, Manchester Capital Management LLC boosted its holdings in Schlumberger by 297.9% in the 1st 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 during the period. 81.99% of the stock is currently 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.