Schlumberger (NYSE:SLB) PT Lowered to $62.00

Schlumberger (NYSE:SLB) had its price objective decreased by Bank of America from $63.00 to $62.00 in a research note released on Monday morning, Benzinga reports. Bank of America currently has a buy rating on the oil and gas company’s stock.

SLB has been the topic of a number of other reports. Stifel Nicolaus raised their price objective on shares of Schlumberger from $63.00 to $64.00 and gave the company a buy rating in a research note on Monday, January 22nd. Wells Fargo & Company boosted their price target on shares of Schlumberger from $69.00 to $70.00 and gave the stock an overweight rating in a report on Monday, January 22nd. HSBC restated a buy rating and set a $71.00 price target on shares of Schlumberger in a report on Thursday, April 4th. Benchmark restated a buy rating and set a $68.00 price target on shares of Schlumberger in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada boosted their price target on shares of Schlumberger from $66.00 to $69.00 and gave the stock an outperform rating in a report on Wednesday, April 3rd. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $69.67.

Schlumberger Stock Down 0.9 %

Schlumberger stock opened at $49.11 on Monday. Schlumberger has a 1-year low of $42.73 and a 1-year high of $62.12. The firm has a market capitalization of $70.10 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. The firm’s fifty day moving average price is $51.71 and its two-hundred day moving average price is $52.25. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same period last year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts predict that Schlumberger will post 3.5 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a $0.275 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.24%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Buying and Selling

In other Schlumberger news, insider Katharina Beumelburg sold 8,000 shares of Schlumberger stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.62, for a total transaction of $420,960.00. Following the transaction, the insider now owns 15,581 shares of the company’s stock, valued at $819,872.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the transaction, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Katharina Beumelburg sold 8,000 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.62, for a total transaction of $420,960.00. Following the completion of the sale, the insider now directly owns 15,581 shares of the company’s stock, valued at $819,872.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,545 shares of company stock valued at $4,458,430. 0.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Schlumberger

Several hedge funds have recently modified their holdings of the stock. BluePath Capital Management LLC acquired a new position in Schlumberger in the 3rd quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Schlumberger in the 4th quarter valued at $26,000. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger in the 1st quarter worth $27,000. MCF Advisors LLC increased its stake in shares of Schlumberger by 1,355.9% in the 3rd quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 461 shares during the last quarter. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Schlumberger in the 4th quarter worth $32,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

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.