Schlumberger (NYSE:SLB) Receives Positive Rating from Susquehanna

Susquehanna restated their positive rating on shares of Schlumberger (NYSE:SLB) in a report released on Monday morning, Benzinga reports. They currently have a $77.00 price objective on the oil and gas company’s stock.

Other equities research analysts also recently issued reports about the company. Benchmark reissued a buy rating and issued a $68.00 price objective on shares of Schlumberger in a report on Monday. Barclays decreased their price target on shares of Schlumberger from $74.00 to $70.00 and set an overweight rating for the company in a research note on Thursday, April 4th. HSBC reaffirmed a buy rating and issued a $71.00 target price on shares of Schlumberger in a report on Thursday, April 4th. The Goldman Sachs Group reissued a buy rating on shares of Schlumberger in a report on Monday, April 1st. Finally, BMO Capital Markets reduced their price objective on Schlumberger from $66.00 to $64.00 and set an outperform rating for the company in a research note on Monday. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $69.67.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $49.52 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. Schlumberger has a 12 month low of $42.73 and a 12 month high of $62.12. The firm has a market capitalization 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. The company’s fifty day moving average price is $51.64 and its 200 day moving average price is $52.32.

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

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a $0.275 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.22%. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 249,182 shares in the company, valued at $13,151,825.96. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 133,621 shares of company stock valued at $6,691,623. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Several hedge funds have recently added to or reduced their stakes in the business. Investment Advisory Services Inc. TX ADV lifted its position in shares of Schlumberger by 1.4% in the third quarter. Investment Advisory Services Inc. TX ADV now owns 11,968 shares of the oil and gas company’s stock valued at $698,000 after acquiring an additional 171 shares in the last quarter. Miller Howard Investments Inc. NY grew its stake in Schlumberger by 0.5% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 32,845 shares of the oil and gas company’s stock worth $1,915,000 after acquiring an additional 176 shares during the period. Stonegate Investment Group LLC raised its holdings in Schlumberger by 1.7% in the 3rd quarter. Stonegate Investment Group LLC now owns 10,864 shares of the oil and gas company’s stock valued at $633,000 after acquiring an additional 177 shares during the last quarter. CI Investments Inc. lifted its stake in shares of Schlumberger by 4.9% during the 3rd quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock worth $241,000 after purchasing an additional 192 shares during the period. Finally, Montgomery Investment Management Inc. boosted its holdings in shares of Schlumberger by 1.9% during the third quarter. Montgomery Investment Management Inc. now owns 10,920 shares of the oil and gas company’s stock worth $637,000 after purchasing an additional 200 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

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.