Schlumberger (NYSE:SLB) Price Target Cut to $59.00 by Analysts at Jefferies Financial Group

Schlumberger (NYSE:SLB) had its price target decreased by Jefferies Financial Group from $60.00 to $59.00 in a research note published on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the oil and gas company’s stock.

Several other research analysts also recently weighed in on SLB. Evercore ISI reiterated an “in-line” rating and issued a $44.00 target price (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Wells Fargo & Company reduced their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. Citigroup raised their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.69.

Schlumberger Stock Down 0.6 %

Shares of NYSE SLB opened at $41.87 on Thursday. The stock has a market cap of $56.93 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. Schlumberger has a 52-week low of $36.52 and a 52-week high of $55.65. The business has a 50-day moving average price of $41.29 and a 200 day moving average price of $41.46. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping 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 $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 EPS. Equities research analysts forecast that Schlumberger will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 2.72%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is 36.66%.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the transaction, the executive vice president now directly owns 210,502 shares in the company, valued at approximately $8,723,202.88. This represents a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the sale, the executive vice president now directly owns 184,626 shares in the company, valued at $8,140,160.34. This trade represents a 40.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock valued at $12,546,660 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

A number of hedge funds and other institutional investors have recently modified their holdings of the business. YANKCOM Partnership purchased a new position in shares of Schlumberger during the 4th quarter valued at approximately $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger during the 4th quarter worth $32,000. Golden State Wealth Management LLC bought a new stake in shares of Schlumberger in the 4th quarter worth about $34,000. Hager Investment Management Services LLC acquired a new stake in shares of Schlumberger in the 4th quarter valued at about $38,000. Finally, True Wealth Design LLC lifted its position in shares of Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 842 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other 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.