Wells Fargo & Company Cuts Schlumberger (NYSE:SLB) Price Target to $23.00

Schlumberger (NYSE:SLB) had its target price cut by Wells Fargo & Company from $28.00 to $23.00 in a research report report published on Monday morning, The Fly reports. They currently have an overweight rating on the oil and gas company’s stock.

Several other equities analysts also recently weighed in on SLB. Evercore ISI reissued a buy rating and set a $28.00 target price on shares of Schlumberger in a research report on Friday, July 24th. Scotiabank cut their price objective on Schlumberger from $23.00 to $21.00 and set a sector outperform rating on the stock in a research report on Tuesday, July 28th. Morgan Stanley upped their price objective on Schlumberger from $23.00 to $25.00 and gave the company an overweight rating in a research report on Monday, July 27th. Cowen upped their price objective on Schlumberger from $30.00 to $32.00 and gave the company an outperform rating in a research report on Monday. Finally, BNP Paribas initiated coverage on Schlumberger in a research report on Monday, October 12th. They issued a neutral rating on the stock. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. Schlumberger presently has an average rating of Hold and an average target price of $23.03.

NYSE SLB opened at $15.01 on Monday. The company has a market cap of $20.84 billion, a P/E ratio of -1.97, a P/E/G ratio of 4.05 and a beta of 2.12. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.92 and a current ratio of 1.23. The business’s 50 day moving average price is $17.00 and its 200-day moving average price is $17.86. Schlumberger has a fifty-two week low of $11.87 and a fifty-two week high of $41.14.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 16th. The oil and gas company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.03. The firm had revenue of $5.26 billion for the quarter, compared to the consensus estimate of $5.37 billion. Schlumberger had a positive return on equity of 8.12% and a negative net margin of 73.90%. The company’s revenue for the quarter was down 38.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS. As a group, equities analysts predict that Schlumberger will post 0.58 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 14th. Investors of record on Wednesday, December 2nd will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Tuesday, December 1st. Schlumberger’s dividend payout ratio (DPR) is currently 34.01%.

In related news, CEO Peuch Olivier Le acquired 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average cost of $17.95 per share, for a total transaction of $448,750.00. Following the purchase, the chief executive officer now directly owns 191,770 shares of the company’s stock, valued at approximately $3,442,271.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark G. Papa acquired 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were bought at an average price of $19.46 per share, with a total value of $291,900.00. Following the completion of the purchase, the director now directly owns 50,131 shares in the company, valued at $975,549.26. The disclosure for this purchase can be found here. Corporate insiders own 0.58% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. CX Institutional raised its stake in Schlumberger by 130.2% in the third quarter. CX Institutional now owns 1,984 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 1,122 shares during the last quarter. Optimum Investment Advisors raised its stake in Schlumberger by 131.8% in the third quarter. Optimum Investment Advisors now owns 2,070 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 1,177 shares during the last quarter. Allworth Financial LP raised its stake in Schlumberger by 59.0% in the second quarter. Allworth Financial LP now owns 2,075 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 770 shares during the last quarter. Verus Capital Partners LLC raised its stake in Schlumberger by 52.7% in the first quarter. Verus Capital Partners LLC now owns 2,932 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 1,012 shares during the last quarter. Finally, Lindbrook Capital LLC raised its stake in Schlumberger by 97.2% in the second quarter. Lindbrook Capital LLC now owns 2,489 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 1,227 shares during the last quarter. Institutional investors own 72.50% of the company’s stock.

Schlumberger Company Profile

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Analyst Recommendations for Schlumberger (NYSE:SLB)

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