Schlumberger (NYSE:SLB) Price Target Lowered to $58.00 at BMO Capital Markets

Schlumberger (NYSE:SLB) had its target price cut by BMO Capital Markets from $60.00 to $58.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the oil and gas company’s stock.

SLB has been the topic of several other research reports. Citigroup lowered their price target on shares of Schlumberger from $65.00 to $62.00 and set a buy rating on the stock in a research report on Friday, June 28th. Morgan Stanley dropped 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 reiterated a buy rating and set a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Royal Bank of Canada restated an outperform rating and issued a $69.00 target price on shares of Schlumberger in a research note on Thursday, October 3rd. Finally, UBS Group lowered their price target on shares of Schlumberger from $63.00 to $57.00 and set a buy rating on the stock in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $63.42.

Schlumberger Trading Up 0.4 %

NYSE:SLB opened at $44.78 on Thursday. Schlumberger has a 12 month low of $38.66 and a 12 month high of $61.20. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $43.10 and its 200 day moving average is $46.36. The stock has a market capitalization of $63.58 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 0.96 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its quarterly 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 return on equity of 21.92% and a net margin of 12.56%. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. Sell-side analysts expect that Schlumberger will post 3.47 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.95%.

Insider Activity

In related 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 value of $492,900.00. Following the transaction, the director now owns 62,354 shares in the company, valued at $3,073,428.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was 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. 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 available through the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 180,716 shares of company stock valued at $9,048,624. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Hedge funds have recently modified their holdings of the company. Grove Bank & Trust grew its stake in shares of Schlumberger by 17.4% in the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after purchasing an additional 224 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in shares of Schlumberger by 25.9% during the third quarter. Wedge Capital Management L L P NC now owns 163,079 shares of the oil and gas company’s stock valued at $6,841,000 after buying an additional 33,512 shares during the period. ORG Partners LLC raised its holdings in shares of Schlumberger by 393.5% during 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. Stablepoint Partners LLC lifted its stake in Schlumberger by 4.3% in the third quarter. Stablepoint Partners LLC now owns 23,840 shares of the oil and gas company’s stock worth $1,000,000 after acquiring an additional 982 shares during the period. Finally, Sapient Capital LLC boosted its holdings in Schlumberger by 6.9% in the third quarter. Sapient Capital LLC now owns 5,034 shares of the oil and gas company’s stock valued at $212,000 after acquiring an additional 323 shares in the last quarter. Hedge funds and other institutional investors 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.