Barclays Cuts Schlumberger (NYSE:SLB) Price Target to $53.00

Schlumberger (NYSE:SLB) had its price objective trimmed by Barclays from $61.00 to $53.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

Other equities analysts have also recently issued reports about the stock. TD Cowen reduced their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Morgan Stanley decreased their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. BMO Capital Markets lowered their price objective on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. Bank of America cut their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $58.85.

Schlumberger Stock Performance

Shares of NYSE:SLB opened at $36.83 on Wednesday. The business has a 50-day moving average price of $42.06 and a two-hundred day moving average price of $43.75. Schlumberger has a 1-year low of $36.52 and a 1-year high of $55.69. The stock has a market capitalization of $52.01 billion, a P/E ratio of 11.84, a P/E/G ratio of 1.42 and a beta of 1.51. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the previous year, the company posted $0.78 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts predict that Schlumberger will post 3.39 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is presently 35.37%.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Several institutional investors have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky increased its position in Schlumberger by 25.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after acquiring an additional 156,698 shares during the period. Wilmington Savings Fund Society FSB increased its stake in Schlumberger by 27.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after acquiring an additional 16,350 shares during the period. Victory Capital Management Inc. raised its holdings in Schlumberger by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after acquiring an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after acquiring an additional 14,376 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in Schlumberger by 0.6% during the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after buying an additional 11,813 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

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.