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

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

Other analysts have also recently issued research reports about the company. HSBC reiterated a buy rating and set a $71.00 target price on shares of Schlumberger in a research report on Thursday, April 4th. Benchmark reiterated a buy rating and set a $68.00 target price on shares of Schlumberger in a research report on Wednesday, April 3rd. Wells Fargo & Company increased their target price on Schlumberger from $69.00 to $70.00 and gave the stock an overweight rating in a research report on Monday, January 22nd. Royal Bank of Canada increased their target price on Schlumberger from $66.00 to $69.00 and gave the stock an outperform rating in a research report on Wednesday, April 3rd. Finally, Stifel Nicolaus increased their target price on Schlumberger from $63.00 to $64.00 and gave the stock a buy rating in a research report on Monday, January 22nd. One investment 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, Schlumberger currently has a consensus rating of Moderate Buy and an average price target of $69.67.

Schlumberger Stock Down 0.9 %

SLB stock opened at $49.11 on Monday. Schlumberger has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The business’s 50-day moving average is $51.71 and its two-hundred day moving average is $52.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The company has a market cap of $70.10 billion, a price-to-earnings ratio of 16.32, a P/E/G ratio of 0.95 and a beta of 1.60.

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

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.24%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of the firm’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 sale, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The disclosure for this sale can be found here. In the last three months, insiders sold 90,545 shares of company stock valued at $4,458,430. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SLB. BluePath Capital Management LLC purchased a new position in Schlumberger during the 3rd quarter worth $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in Schlumberger during the 4th quarter worth $26,000. Register Financial Advisors LLC purchased a new position in Schlumberger during the 1st quarter worth $27,000. MCF Advisors LLC increased its holdings in Schlumberger by 1,355.9% during the 3rd quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 461 shares during the period. Finally, Transcendent Capital Group LLC purchased a new position in Schlumberger during the 4th quarter worth $32,000. 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.