Schlumberger (NYSE:SLB) PT Lowered to $63.00 at TD Cowen

Schlumberger (NYSE:SLB) had its price objective lowered by TD Cowen from $64.00 to $63.00 in a research note issued to investors on Monday morning, MarketBeat.com reports. The firm currently has a buy rating on the oil and gas company’s stock.

SLB has been the subject of a number of other reports. The Goldman Sachs Group reiterated a buy rating on shares of Schlumberger in a report on Monday, April 1st. Bank of America dropped their price target on Schlumberger from $63.00 to $62.00 and set a buy rating for the company in a research note on Monday. HSBC reiterated a buy rating and set a $71.00 price target on shares of Schlumberger in a research report on Thursday, April 4th. Benchmark reissued a buy rating and issued a $68.00 target price on shares of Schlumberger in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada upped their price target on Schlumberger from $66.00 to $69.00 and gave the stock an outperform rating in a research note on Wednesday, April 3rd. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $69.67.

Schlumberger Stock Up 0.7 %

SLB stock opened at $49.45 on Monday. The company’s 50 day moving average is $51.73 and its 200 day moving average is $52.23. The stock has a market cap of $70.58 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60. Schlumberger has a 1-year low of $42.73 and a 1-year 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.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to analyst estimates of $8.70 billion. During the same quarter in the prior year, the firm 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 predict that Schlumberger will post 3.5 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.22%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is currently 36.54%.

Insider Activity at Schlumberger

In other news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the transaction, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, 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 transaction, the chief financial officer now owns 249,182 shares in the company, valued at $13,151,825.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction 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 sale, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. Insiders sold 90,545 shares of company stock worth $4,458,430 over the last three months. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ritholtz Wealth Management raised its position in Schlumberger by 46.5% in the third quarter. Ritholtz Wealth Management now owns 11,978 shares of the oil and gas company’s stock valued at $698,000 after purchasing an additional 3,802 shares during the period. Global Retirement Partners LLC raised its holdings in Schlumberger by 14.1% in the 3rd quarter. Global Retirement Partners LLC now owns 3,563 shares of the oil and gas company’s stock valued at $199,000 after buying an additional 440 shares during the period. Montecito Bank & Trust acquired a new position in Schlumberger in the third quarter valued at about $245,000. DAVENPORT & Co LLC boosted its stake in Schlumberger by 0.9% during the third quarter. DAVENPORT & Co LLC now owns 54,995 shares of the oil and gas company’s stock worth $3,206,000 after buying an additional 506 shares during the period. Finally, GHP Investment Advisors Inc. increased its position in shares of Schlumberger by 68.8% during the third quarter. GHP Investment Advisors Inc. now owns 1,722 shares of the oil and gas company’s stock valued at $102,000 after acquiring an additional 702 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.