Schlumberger (NYSE:SLB) Price Target Lowered to $64.00 at BMO Capital Markets

Schlumberger (NYSE:SLB) had its price objective cut by BMO Capital Markets from $66.00 to $64.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an outperform rating on the oil and gas company’s stock.

A number of other equities research analysts have also recently issued reports on SLB. Wells Fargo & Company lifted their price target on shares of Schlumberger from $69.00 to $70.00 and gave the company an overweight rating in a research note on Monday, January 22nd. Susquehanna reiterated a positive rating and set a $77.00 price target on shares of Schlumberger in a report on Monday, April 8th. TD Cowen cut their price objective on Schlumberger from $64.00 to $63.00 and set a buy rating for the company in a research report on Monday. Stifel Nicolaus raised 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. Finally, The Goldman Sachs Group reaffirmed a buy rating on shares of Schlumberger in a research report on Monday, April 1st. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $69.67.

Schlumberger Price Performance

Shares of SLB stock opened at $49.45 on Monday. The stock’s 50-day simple moving average is $51.73 and its 200-day simple moving average is $52.23. The firm has a market capitalization of $70.58 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 0.95 and a beta of 1.60. Schlumberger has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. Schlumberger’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. As a group, equities analysts forecast that Schlumberger will post 3.5 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.275 per share. 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 yield of 2.22%. Schlumberger’s payout ratio is presently 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction that occurred 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 sale, 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 through this link. In other news, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now owns 249,182 shares in the company, valued at $13,151,825.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gavin Rennick sold 20,045 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $48.77, for a total value of $977,594.65. Following the sale, the insider now owns 77,563 shares of the company’s stock, valued at approximately $3,782,747.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,545 shares of company stock worth $4,458,430. 0.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new stake in Schlumberger in the fourth quarter valued at $1,000,292,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Schlumberger by 12.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock worth $3,922,768,000 after purchasing an additional 8,617,971 shares during the period. Winslow Capital Management LLC raised its holdings in shares of Schlumberger by 123,063.5% in the 4th quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock worth $226,253,000 after purchasing an additional 4,344,141 shares during the period. Royal Bank of Canada raised its holdings in shares of Schlumberger by 79.7% in the 3rd quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock worth $286,835,000 after purchasing an additional 2,182,706 shares during the period. Finally, Sanders Capital LLC raised its holdings in shares of Schlumberger by 34.9% in the 3rd quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock worth $469,693,000 after purchasing an additional 2,085,506 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

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.