Schlumberger (NYSE:SLB) Price Target Cut to $57.00 by Analysts at UBS Group

Schlumberger (NYSE:SLB) had its price target trimmed by UBS Group from $63.00 to $57.00 in a report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the oil and gas company’s stock.

A number of other equities analysts also recently issued reports on SLB. TD Cowen increased their price target on shares of Schlumberger from $62.00 to $64.00 and gave the company a buy rating in a report on Monday, July 22nd. Barclays lowered their price target on Schlumberger from $70.00 to $67.00 and set an overweight rating for the company in a research report on Tuesday, July 23rd. Susquehanna cut their price objective on Schlumberger from $77.00 to $70.00 and set a positive rating on the stock in a report on Thursday, July 11th. Piper Sandler decreased their target price on Schlumberger from $71.00 to $66.00 and set an overweight rating for the company in a report on Monday, July 15th. Finally, Royal Bank of Canada restated an outperform rating and issued a $69.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $66.29.

Schlumberger Stock Down 0.2 %

SLB stock opened at $41.44 on Wednesday. The company has a fifty day moving average price of $44.63 and a 200 day moving average price of $47.48. Schlumberger has a 12 month low of $38.66 and a 12 month high of $61.70. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The company has a market cap of $59.22 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 0.85 and a beta of 1.52.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. Schlumberger’s revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. Sell-side analysts expect that Schlumberger will post 3.49 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.65%. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Insider Activity at Schlumberger

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

Institutional Investors Weigh In On Schlumberger

Several large investors have recently modified their holdings of SLB. Carolinas Wealth Consulting LLC lifted its holdings in Schlumberger by 53.5% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 683 shares during the last quarter. Crescent Grove Advisors LLC acquired a new position in Schlumberger in the 2nd quarter valued at about $257,000. National Bank of Canada FI raised its holdings in Schlumberger by 15.0% in the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after acquiring an additional 51,637 shares during the period. Mission Wealth Management LP acquired a new stake in Schlumberger during the first quarter worth approximately $245,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Schlumberger by 9.0% during the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after acquiring an additional 64,974 shares during the period. 81.99% of the stock is currently owned by institutional investors.

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.