Schlumberger (NYSE:SLB) Price Target Raised to $55.00 at TD Cowen

Schlumberger (NYSE:SLB) had its target price upped by TD Cowen from $53.00 to $55.00 in a report issued on Tuesday morning, MarketBeat Ratings reports. TD Cowen currently has a buy rating on the oil and gas company’s stock.

SLB has been the topic of several other research reports. BMO Capital Markets dropped their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Evercore ISI reaffirmed an “in-line” rating and issued a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Barclays lowered their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Jefferies Financial Group dropped their price target on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Finally, Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Stock Up 0.4 %

Shares of NYSE:SLB opened at $43.76 on Tuesday. The stock’s 50-day moving average price is $40.84 and its 200-day moving average price is $42.81. 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 has a 12-month low of $36.52 and a 12-month high of $55.69. The stock has a market capitalization of $61.80 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 3.61 and a beta of 1.52.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same period last year, the company posted $0.86 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities 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. Shareholders of record on Wednesday, February 5th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 2.60%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction 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 of the company’s stock, valued at $8,140,160.34. The trade was a 40.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,258 shares of company stock valued at $11,246,604 in the last quarter. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Schlumberger

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp lifted its position in shares of Schlumberger by 0.6% during the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after buying an additional 528,279 shares in the last quarter. Geode Capital Management LLC lifted its stake in Schlumberger by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after buying an additional 239,966 shares in the last quarter. Legal & General Group Plc boosted its holdings in Schlumberger by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after buying an additional 1,560,684 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Schlumberger by 20.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after buying an additional 1,916,851 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Schlumberger by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock valued at $335,214,000 after acquiring an additional 31,718 shares in the last quarter. Hedge funds and other 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.