Schlumberger (NYSE:SLB) PT Lowered to $54.00

Schlumberger (NYSE:SLB) had its price target decreased by Citigroup from $60.00 to $54.00 in a research note issued to investors on Tuesday, Benzinga reports. Citigroup currently has a buy rating on the oil and gas company’s stock.

A number of other research analysts have also recently issued reports on the company. Evercore ISI lowered their price objective on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Wells Fargo & Company dropped their price target on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Morgan Stanley reduced their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. JPMorgan Chase & Co. dropped their target price on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $41.74 on Tuesday. Schlumberger has a 12 month low of $38.66 and a 12 month high of $57.75. The firm has a market capitalization of $59.66 billion, a P/E ratio of 13.87, a P/E/G ratio of 1.48 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. The business has a fifty day simple moving average of $42.92 and a two-hundred day simple moving average of $45.72.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. Schlumberger’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the company posted $0.78 EPS. On average, equities analysts forecast that Schlumberger will post 3.41 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is currently 36.54%.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were 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 directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Schlumberger

Hedge funds have recently modified their holdings of the business. First Financial Corp IN grew its stake in shares of Schlumberger by 14.2% during the 1st quarter. First Financial Corp IN now owns 3,105 shares of the oil and gas company’s stock valued at $170,000 after acquiring an additional 387 shares during the period. Kingswood Wealth Advisors LLC boosted its position in shares of Schlumberger by 5.6% in the first quarter. Kingswood Wealth Advisors LLC now owns 13,944 shares of the oil and gas company’s stock worth $764,000 after purchasing an additional 745 shares during the period. Sunbelt Securities Inc. raised its position in shares of Schlumberger by 2.2% during the 1st quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock valued at $578,000 after purchasing an additional 230 shares during the period. Brookstone Capital Management purchased a new position in shares of Schlumberger during the 1st quarter valued at $1,758,000. Finally, Wealthcare Advisory Partners LLC boosted its holdings in Schlumberger by 15.4% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 7,242 shares of the oil and gas company’s stock worth $397,000 after buying an additional 965 shares during the period. 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.