Schlumberger (NYSE:SLB) Price Target Raised to $50.00

Schlumberger (NYSE:SLB) had its price objective increased by JPMorgan Chase & Co. from $48.00 to $50.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

SLB has been the topic of a number of other research reports. TD Cowen reduced their price target on Schlumberger from $65.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Barclays decreased their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Evercore ISI restated an “in-line” rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Finally, Stifel Nicolaus lowered their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $55.81.

Schlumberger Stock Performance

NYSE SLB opened at $41.99 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company has a market cap of $59.29 billion, a P/E ratio of 13.50, a P/E/G ratio of 3.58 and a beta of 1.52. The stock has a 50-day moving average of $40.79 and a two-hundred day moving average of $42.79. Schlumberger has a 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 earnings per share. As a group, analysts anticipate that Schlumberger will post 3.33 EPS for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 2.72%. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is 35.37%.

Insider Buying and Selling at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total value of $5,427,346.73. Following the sale, the executive vice president now owns 184,626 shares of the company’s stock, valued at $8,140,160.34. The trade was a 40.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the transaction, the director now directly owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 198,258 shares of company stock valued at $8,732,604 in the last ninety days. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Large investors have recently made changes to their positions in the stock. ORG Partners LLC grew its holdings in 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 purchasing an additional 484 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Schlumberger during the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Schlumberger during the 3rd quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. grew its holdings in Schlumberger by 1,068.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP purchased a new position in Schlumberger during the third quarter worth $47,000. Hedge funds and other institutional investors 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.