Schlumberger (NYSE:SLB) Downgraded by Cowen to Market Perform

Cowen downgraded shares of Schlumberger (NYSE:SLB) from an outperform rating to a market perform rating in a research report released on Tuesday, BenzingaRatingsTable reports. Cowen currently has $42.00 price target on the oil and gas company’s stock, down from their prior price target of $44.00.

A number of other equities research analysts have also issued reports on SLB. Sanford C. Bernstein assumed coverage on shares of Schlumberger in a research note on Monday, January 13th. They issued an underperform rating and a $27.10 target price on the stock. Royal Bank of Canada set a $40.00 price objective on Schlumberger and gave the company a buy rating in a research report on Monday, October 21st. ValuEngine raised Schlumberger from a sell rating to a hold rating in a report on Friday, January 3rd. Morgan Stanley set a $50.00 price objective on shares of Schlumberger and gave the stock a buy rating in a report on Monday, October 21st. Finally, Barclays set a $47.00 price target on Schlumberger and gave the company a buy rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company. Schlumberger has an average rating of Buy and an average price target of $43.06.

NYSE SLB opened at $36.95 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.61. Schlumberger has a fifty-two week low of $30.65 and a fifty-two week high of $48.88. The business has a 50 day moving average price of $39.09 and a two-hundred day moving average price of $36.43. The stock has a market cap of $53.12 billion, a PE ratio of -5.04, a P/E/G ratio of 2.83 and a beta of 1.59.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. The business had revenue of $8.23 billion during the quarter, compared to the consensus estimate of $8.16 billion. Schlumberger had a negative net margin of 30.80% and a positive return on equity of 6.77%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. Sell-side analysts anticipate that Schlumberger will post 1.63 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Wednesday, February 12th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, February 11th. This represents a $2.00 annualized dividend and a yield of 5.41%. Schlumberger’s dividend payout ratio is 136.05%.

In other news, CAO Howard Guild sold 9,000 shares of Schlumberger stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $35.36, for a total transaction of $318,240.00. Also, EVP Patrick Schorn sold 65,000 shares of Schlumberger stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $35.89, for a total value of $2,332,850.00. Following the sale, the executive vice president now directly owns 50,000 shares in the company, valued at approximately $1,794,500. The disclosure for this sale can be found here. Insiders have sold 99,735 shares of company stock worth $3,594,864 over the last 90 days. Corporate insiders own 0.48% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLB. Ancora Advisors LLC raised its stake in shares of Schlumberger by 0.7% in the third quarter. Ancora Advisors LLC now owns 35,572 shares of the oil and gas company’s stock valued at $1,215,000 after acquiring an additional 255 shares during the last quarter. Trust Co. of Vermont grew its position in Schlumberger by 1.3% during the 3rd quarter. Trust Co. of Vermont now owns 23,037 shares of the oil and gas company’s stock worth $787,000 after acquiring an additional 296 shares during the last quarter. Cutler Investment Counsel LLC raised its position in Schlumberger by 0.6% in the 3rd quarter. Cutler Investment Counsel LLC now owns 49,980 shares of the oil and gas company’s stock valued at $1,708,000 after purchasing an additional 305 shares during the last quarter. Sigma Investment Counselors Inc. raised its holdings in shares of Schlumberger by 1.4% in the fourth quarter. Sigma Investment Counselors Inc. now owns 22,774 shares of the oil and gas company’s stock valued at $916,000 after buying an additional 305 shares during the last quarter. Finally, Acima Private Wealth LLC raised its stake in shares of Schlumberger by 34.1% in the third quarter. Acima Private Wealth LLC now owns 1,239 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 315 shares during the last quarter. Institutional investors and hedge funds own 76.52% of the company’s stock.

About Schlumberger

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Analyst Recommendations for Schlumberger (NYSE:SLB)

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