Schlumberger (NYSE:SLB) PT Lowered to $49.00

Schlumberger (NYSE:SLB) had its price target lowered by Wells Fargo & Company from $53.00 to $49.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an equal weight rating on the oil and gas company’s stock.

A number of other brokerages have also recently weighed in on SLB. Evercore ISI boosted their price objective on shares of Schlumberger from $73.00 to $74.00 and gave the stock an outperform rating in a research note on Monday, July 22nd. Piper Sandler decreased their price target on shares of Schlumberger from $71.00 to $66.00 and set an overweight rating for the company in a report on Monday, July 15th. Dbs Bank assumed coverage on Schlumberger in a research note on Wednesday, September 18th. They issued a buy rating and a $64.50 price objective on the stock. Susquehanna decreased their target price on Schlumberger from $77.00 to $70.00 and set a positive rating for the company in a research note on Thursday, July 11th. Finally, Barclays lowered their target price on Schlumberger from $70.00 to $67.00 and set an overweight rating on the stock in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger currently has an average rating of Moderate Buy and an average target price of $66.08.

Schlumberger Trading Up 2.7 %

Shares of NYSE:SLB opened at $42.29 on Wednesday. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $60.05 billion, a PE ratio of 14.05, a P/E/G ratio of 0.92 and a beta of 1.51. Schlumberger has a 1 year low of $38.66 and a 1 year high of $61.41. The firm has a fifty day moving average price of $43.83 and a 200 day moving average price of $47.08.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. Analysts expect that Schlumberger will post 3.49 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.60%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Buying and Selling at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Schlumberger

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Checchi Capital Advisers LLC lifted its position in Schlumberger by 1.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock worth $592,000 after buying an additional 204 shares in the last quarter. Financial Advocates Investment Management grew its stake in shares of Schlumberger by 3.4% during the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 218 shares during the last quarter. Hilltop Holdings Inc. increased its holdings in shares of Schlumberger by 2.1% in the fourth quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock valued at $560,000 after purchasing an additional 219 shares in the last quarter. Chilton Capital Management LLC lifted its holdings in Schlumberger by 0.8% during the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after buying an additional 219 shares in the last quarter. Finally, First PREMIER Bank boosted its position in Schlumberger by 8.7% in the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 227 shares during the last quarter. 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.