Schlumberger (NYSE:SLB) Given Positive Rating at Susquehanna

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

SLB has been the topic of several other research reports. BMO Capital Markets dropped their price objective on Schlumberger from $66.00 to $64.00 and set an outperform rating on the stock in a research note on Monday. TD Cowen dropped their target price on Schlumberger from $64.00 to $63.00 and set a buy rating on the stock in a research report on Monday. HSBC restated a buy rating and set a $71.00 target price on shares of Schlumberger in a research report on Thursday, April 4th. The Goldman Sachs Group restated a buy rating on shares of Schlumberger in a research report on Monday, April 1st. Finally, Bank of America dropped their target price on Schlumberger from $63.00 to $62.00 and set a buy rating on the stock in a research report on Monday. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $69.67.

Schlumberger Price Performance

Schlumberger stock opened at $49.11 on Monday. Schlumberger has a 12 month low of $42.73 and a 12 month high of $62.12. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The business’s 50 day simple moving average is $51.71 and its 200 day simple moving average is $52.25. The company has a market cap of $70.10 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 0.95 and a beta of 1.60.

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

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a 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 is presently 36.54%.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction dated 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 $12,688,319.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction dated 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 $12,688,319.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gavin Rennick sold 20,045 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $48.77, for a total transaction of $977,594.65. Following the sale, the insider now owns 77,563 shares of the company’s stock, valued at $3,782,747.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,545 shares of company stock worth $4,458,430. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Investment Advisory Services Inc. TX ADV lifted its holdings in 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 worth $698,000 after buying an additional 171 shares during the period. Miller Howard Investments Inc. NY lifted its holdings in Schlumberger by 0.5% in the third quarter. Miller Howard Investments Inc. NY now owns 32,845 shares of the oil and gas company’s stock worth $1,915,000 after buying an additional 176 shares during the period. Stonegate Investment Group LLC lifted its holdings in Schlumberger by 1.7% in the third quarter. Stonegate Investment Group LLC now owns 10,864 shares of the oil and gas company’s stock worth $633,000 after buying an additional 177 shares during the period. CI Investments Inc. lifted its holdings in Schlumberger by 4.9% in the third quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock worth $241,000 after buying an additional 192 shares during the period. Finally, Montgomery Investment Management Inc. lifted its holdings in Schlumberger by 1.9% in the third quarter. Montgomery Investment Management Inc. now owns 10,920 shares of the oil and gas company’s stock worth $637,000 after buying an additional 200 shares during the period. 81.99% of the stock is currently 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.