Schlumberger (NYSE:SLB) Given New $50.00 Price Target at JPMorgan Chase & Co.

Schlumberger (NYSE:SLB) had its price target upped by JPMorgan Chase & Co. from $48.00 to $50.00 in a research note released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the oil and gas company’s stock.

A number of other equities analysts have also commented on the stock. Atb Cap Markets lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Piper Sandler initiated coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Susquehanna cut their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Finally, TD Cowen lowered their price target on Schlumberger from $65.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $43.76 on Tuesday. The business’s fifty day moving average price is $40.84 and its 200 day moving average price is $42.81. The stock has a market capitalization of $61.80 billion, a P/E ratio of 14.07, a PEG ratio of 3.61 and a beta of 1.52. Schlumberger has a twelve month low of $36.52 and a twelve month high of $55.69. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9,241,140 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. As a group, research analysts anticipate that Schlumberger will post 3.29 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a $0.285 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Insider Activity

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the sale, the vice president now directly owns 11,240 shares in the company, valued at approximately $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the completion of the transaction, the executive vice president now directly owns 184,626 shares in the company, valued at approximately $8,140,160.34. The trade was a 40.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 258,258 shares of company stock worth $11,246,604. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stablepoint Partners LLC boosted its stake in shares of Schlumberger by 8.9% during the 4th quarter. Stablepoint Partners LLC now owns 25,960 shares of the oil and gas company’s stock worth $995,000 after acquiring an additional 2,120 shares during the period. Regency Capital Management Inc. DE acquired a new stake in shares of Schlumberger in the fourth quarter valued at about $1,532,000. Olstein Capital Management L.P. boosted its position in Schlumberger by 3.3% during the fourth quarter. Olstein Capital Management L.P. now owns 252,000 shares of the oil and gas company’s stock valued at $9,662,000 after acquiring an additional 8,000 shares during the last quarter. Flagship Harbor Advisors LLC grew its holdings in Schlumberger by 89.8% in the fourth quarter. Flagship Harbor Advisors LLC now owns 16,892 shares of the oil and gas company’s stock worth $648,000 after purchasing an additional 7,990 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Schlumberger in the 4th quarter worth $25,481,000. 81.99% of the stock is owned by institutional investors.

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.