Schlumberger (NYSE:SLB) Given New $48.00 Price Target at BMO Capital Markets

Schlumberger (NYSE:SLB) had its target price trimmed by BMO Capital Markets from $53.00 to $48.00 in a research report report published on Thursday morning.

SLB has been the subject of several other research reports. JPMorgan Chase & Co. cut their price target on Schlumberger from $55.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Bank of America cut their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Jefferies Financial Group decreased their target price on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, Piper Sandler began coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $56.03.

Schlumberger Trading Up 6.1 %

Shares of NYSE:SLB opened at $43.58 on Thursday. The company has a market capitalization of $61.54 billion, a PE ratio of 14.01, a PEG ratio of 1.35 and a beta of 1.52. Schlumberger has a 12-month low of $36.52 and a 12-month high of $55.69. The business has a 50 day moving average of $40.86 and a two-hundred day moving average of $42.90. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9,241,140 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, analysts forecast that Schlumberger will post 3.39 EPS for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.62%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On Schlumberger

A number of institutional investors have recently bought and sold shares of SLB. State Street Corp raised its position in shares of Schlumberger by 0.6% during the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after buying an additional 528,279 shares during the period. Geode Capital Management LLC raised its position in Schlumberger by 0.8% in the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after purchasing an additional 239,966 shares during the period. Legal & General Group Plc lifted its stake in shares of Schlumberger by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Schlumberger by 20.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after purchasing an additional 1,916,851 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Schlumberger by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock worth $335,214,000 after purchasing an additional 31,718 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.