Schlumberger (NYSE:SLB) Price Target Cut to $61.00 by Analysts at Jefferies Financial Group

Schlumberger (NYSE:SLB) had its target price trimmed by Jefferies Financial Group from $64.00 to $61.00 in a report published on Friday morning,Benzinga 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. JPMorgan Chase & Co. lowered their price objective on shares of Schlumberger from $55.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research note on Thursday, October 3rd. BMO Capital Markets reduced their price objective on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Susquehanna dropped their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Finally, Stifel Nicolaus reduced their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.25.

Schlumberger Price Performance

Shares of SLB stock opened at $38.59 on Friday. The company has a market capitalization of $54.50 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.42 and a beta of 1.51. The company’s 50-day simple moving average is $41.19 and its two-hundred day simple moving average is $43.37. Schlumberger has a one year low of $36.52 and a one year high of $55.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12.

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

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ORG Partners LLC raised its stake in shares of Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Schlumberger during the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new position in Schlumberger in the third quarter valued at approximately $37,000. DiNuzzo Private Wealth Inc. boosted its position in Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in shares of Schlumberger during the 3rd quarter worth approximately $47,000. 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.