Schlumberger (NYSE:SLB) Shares Up 6.2%

Schlumberger Limited (NYSE:SLB)’s stock price shot up 6.2% during mid-day trading on Thursday . The stock traded as high as $28.82 and last traded at $28.82. 297,345 shares changed hands during trading, a decline of 98% from the average session volume of 12,495,021 shares. The stock had previously closed at $27.15.

Several research firms have recently issued reports on SLB. Cowen reaffirmed an “outperform” rating and set a $29.03 price objective (down from $32.00) on shares of Schlumberger in a research report on Monday, July 26th. Morgan Stanley upped their price objective on Schlumberger from $32.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, July 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $37.00 target price on shares of Schlumberger in a research report on Thursday, September 9th. TheStreet raised Schlumberger from a “d+” rating to a “c-” rating in a research report on Thursday, June 10th. Finally, HSBC raised Schlumberger from a “reduce” rating to a “hold” rating and upped their target price for the company from $18.10 to $25.00 in a research report on Wednesday, August 4th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $29.84.

The stock has a market capitalization of $40.57 billion, a PE ratio of 40.29 and a beta of 2.39. The firm has a 50 day moving average of $28.06 and a two-hundred day moving average of $29.48. The company has a current ratio of 1.37, a quick ratio of 1.00 and a debt-to-equity ratio of 1.20.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Thursday, July 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. Schlumberger had a return on equity of 9.96% and a net margin of 4.72%. The firm had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same period last year, the business posted $0.05 EPS. Schlumberger’s quarterly revenue was up 5.6% on a year-over-year basis. Equities research analysts forecast that Schlumberger Limited will post 1.25 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 7th. Investors of record on Wednesday, September 1st will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.72%. The ex-dividend date is Tuesday, August 31st. Schlumberger’s payout ratio is currently 73.53%.

A number of large investors have recently made changes to their positions in the business. NorthCoast Asset Management LLC grew its holdings in Schlumberger by 1.9% during the 1st quarter. NorthCoast Asset Management LLC now owns 17,211 shares of the oil and gas company’s stock valued at $468,000 after buying an additional 317 shares during the last quarter. Keating Investment Counselors Inc. grew its holdings in Schlumberger by 0.8% during the 2nd quarter. Keating Investment Counselors Inc. now owns 43,260 shares of the oil and gas company’s stock valued at $1,385,000 after buying an additional 350 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in Schlumberger by 10.2% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,884 shares of the oil and gas company’s stock valued at $124,000 after buying an additional 360 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in Schlumberger by 2.8% during the 1st quarter. Coldstream Capital Management Inc. now owns 14,037 shares of the oil and gas company’s stock valued at $382,000 after buying an additional 376 shares during the last quarter. Finally, Busey Wealth Management grew its holdings in Schlumberger by 0.3% during the 2nd quarter. Busey Wealth Management now owns 148,303 shares of the oil and gas company’s stock valued at $4,747,000 after buying an additional 378 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

About Schlumberger (NYSE:SLB)

Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration; Reservoir Performance; Well Construction; and Production Systems. The Digital and Integration segment combines the company’s software and seismic businesses with its integrated offering of asset performance solutions.

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