Schlumberger (NYSE:SLB) PT Lowered to $62.00 at Citigroup

Schlumberger (NYSE:SLB) had its target price cut by Citigroup from $65.00 to $62.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

A number of other research analysts also recently issued reports on the stock. Bank of America decreased their target price on shares of Schlumberger from $63.00 to $62.00 and set a buy rating for the company in a research report on Monday, April 22nd. Morgan Stanley restated an overweight rating and issued a $65.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. TD Cowen decreased 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, April 22nd. The Goldman Sachs Group reissued a buy rating on shares of Schlumberger in a report on Monday, April 1st. Finally, StockNews.com downgraded shares of Schlumberger from a buy rating to a hold rating in a research report on Thursday, June 6th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger has an average rating of Moderate Buy and an average price target of $68.59.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $47.18 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The stock’s fifty day moving average is $46.69 and its two-hundred day moving average is $49.61. Schlumberger has a 52 week low of $42.61 and a 52 week high of $62.12. The company has a market capitalization of $67.44 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 0.91 and a beta of 1.57.

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

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total value of $1,838,647.24. Following the completion of the sale, the insider now owns 45,851 shares in the company, valued at $2,213,686.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Gavin Rennick sold 38,083 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total value of $1,838,647.24. Following the transaction, the insider now owns 45,851 shares in the company, valued at approximately $2,213,686.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the transaction, the insider now directly owns 22,518 shares in the company, valued at $977,956.74. The disclosure for this sale can be found here. Insiders have sold 106,158 shares of company stock valued at $5,099,893 in the last 90 days. 0.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Capital World Investors increased its holdings in Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after purchasing an additional 37,333,485 shares in the last quarter. Norges Bank bought a new position in shares of Schlumberger during the fourth quarter worth about $1,000,292,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after acquiring an additional 10,606,191 shares during the period. Winslow Capital Management LLC boosted its holdings in Schlumberger by 123,063.5% in the fourth quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock valued at $226,253,000 after acquiring an additional 4,344,141 shares during the last quarter. Finally, Boston Partners boosted its position in shares of Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after purchasing an additional 3,069,395 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.