Schlumberger (NYSE:SLB) Cut to Hold at Atb Cap Markets

Atb Cap Markets lowered shares of Schlumberger (NYSE:SLB) from a strong-buy rating to a hold rating in a report published on Tuesday,Zacks.com reports.

SLB has been the subject of several other research reports. TD Cowen dropped their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Dbs Bank assumed coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target for the company. Wells Fargo & Company dropped their price target on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Susquehanna decreased their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Finally, Bank of America decreased their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.91.

Schlumberger Stock Down 1.1 %

Shares of NYSE:SLB opened at $41.10 on Tuesday. The company has a market cap of $58.04 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.45 and a beta of 1.51. The firm’s 50-day simple moving average is $42.91 and its 200-day simple moving average is $44.07. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger has a fifty-two week low of $38.66 and a fifty-two week high of $55.69.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share. As a group, equities research analysts predict that Schlumberger will post 3.39 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Schlumberger

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLB. Financial Advocates Investment Management lifted its holdings 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 acquiring an additional 218 shares during the period. Chilton Capital Management LLC lifted its holdings in shares of Schlumberger by 0.8% during the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after acquiring an additional 219 shares during the period. Grove Bank & Trust lifted its holdings in shares of Schlumberger by 17.4% during the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after acquiring an additional 224 shares during the period. Addison Advisors LLC lifted its holdings in shares of Schlumberger by 6.5% during the second quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock valued at $179,000 after acquiring an additional 233 shares during the period. Finally, Clearstead Trust LLC raised its holdings in shares of Schlumberger by 0.8% in the second quarter. Clearstead Trust LLC now owns 31,529 shares of the oil and gas company’s stock valued at $1,488,000 after buying an additional 237 shares during the last quarter. Institutional investors 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.