Schlumberger (NYSE:SLB) Given New $63.00 Price Target at TD Cowen

Schlumberger (NYSE:SLB) had its target price reduced by TD Cowen from $64.00 to $63.00 in a report released on Monday, Marketbeat reports. They currently have a buy rating on the oil and gas company’s stock.

Other equities analysts also recently issued research reports about the company. Bank of America dropped their price target on Schlumberger from $63.00 to $62.00 and set a buy rating for the company in a research report on Monday. Stifel Nicolaus lifted their price objective on Schlumberger from $63.00 to $64.00 and gave the stock a buy rating in a research report on Monday, January 22nd. Susquehanna restated a positive rating and issued a $77.00 target price on shares of Schlumberger in a report on Monday, April 8th. The Goldman Sachs Group reiterated a buy rating on shares of Schlumberger in a report on Monday, April 1st. Finally, Benchmark restated a buy rating and set a $68.00 target price on shares of Schlumberger in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $69.67.

Schlumberger Trading Down 0.7 %

Shares of SLB stock opened at $49.52 on Monday. Schlumberger has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $51.64 and a 200-day simple moving average of $52.32. The stock has a market cap of $70.68 billion, a P/E ratio of 16.45, a P/E/G ratio of 0.95 and a beta of 1.60.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. On average, analysts forecast that Schlumberger will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.22%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is presently 36.54%.

Insider Activity

In related news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the sale, the chief financial officer now directly owns 242,932 shares in the company, valued at $11,816,212.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,621 shares of company stock valued at $6,691,623. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

A number of hedge funds have recently made changes to their positions in SLB. BluePath Capital Management LLC acquired a new position in Schlumberger during the 3rd quarter worth $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Schlumberger during the fourth quarter worth about $26,000. Register Financial Advisors LLC acquired a new position in Schlumberger in the first quarter worth about $27,000. MCF Advisors LLC raised its stake in Schlumberger by 1,355.9% during the third quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 461 shares in the last quarter. Finally, Transcendent Capital Group LLC bought a new position in Schlumberger during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds 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.