Schlumberger (NYSE:SLB) Price Target Lowered to $60.00 at JPMorgan Chase & Co.

Schlumberger (NYSE:SLB) had its target price trimmed by JPMorgan Chase & Co. from $64.00 to $60.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued reports about the company. Citigroup cut their target price on Schlumberger from $65.00 to $62.00 and set a buy rating on the stock in a research note on Friday, June 28th. Wells Fargo & Company lowered their price objective on Schlumberger from $53.00 to $49.00 and set an equal weight rating on the stock in a research report on Wednesday, September 25th. Barclays reduced their target price on Schlumberger from $70.00 to $67.00 and set an overweight rating for the company in a report on Tuesday, July 23rd. Susquehanna lowered their price target on Schlumberger from $77.00 to $70.00 and set a positive rating on the stock in a report on Thursday, July 11th. Finally, Benchmark reiterated a buy rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $65.29.

Schlumberger Price Performance

Shares of SLB stock opened at $45.46 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The stock has a market cap of $64.55 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 0.90 and a beta of 1.51. The business’s fifty day moving average is $43.34 and its 200 day moving average is $46.80. Schlumberger has a twelve month low of $38.66 and a twelve month high of $61.20.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same period last year, the company posted $0.72 EPS. Schlumberger’s revenue was up 12.8% on a year-over-year basis. Research analysts expect that Schlumberger will post 3.49 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.42%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insiders Place Their Bets

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,716 shares of company stock worth $9,048,624. Company insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SLB. Vanguard Group Inc. lifted its position in Schlumberger by 1.4% during the first quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock valued at $7,352,771,000 after purchasing an additional 1,868,688 shares during the last quarter. Capital World Investors lifted its holdings in shares of Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after acquiring an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after purchasing an additional 10,606,191 shares during the period. Capital International Investors increased its position in shares of Schlumberger by 0.6% during the 4th quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock valued at $770,122,000 after purchasing an additional 89,483 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after buying an additional 1,560,684 shares during the period. 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.