Schlumberger (NYSE:SLB) Given New $59.00 Price Target at Jefferies Financial Group

Schlumberger (NYSE:SLB) had its price target lowered by Jefferies Financial Group from $60.00 to $59.00 in a report published on Thursday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the oil and gas company’s stock.

Several other equities research analysts have also commented on the stock. BMO Capital Markets cut their price target on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Barclays reduced their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Stifel Nicolaus lowered their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Six 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.com, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $55.69.

Schlumberger Stock Down 0.7 %

Schlumberger stock opened at $42.14 on Thursday. Schlumberger has a 52 week low of $36.52 and a 52 week high of $55.69. The firm has a market cap of $57.31 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The business’s 50-day moving average price is $41.32 and its 200 day moving average price is $41.43. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.86 earnings per share. As a group, sell-side analysts anticipate that Schlumberger will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.71%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

Insider Activity at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 123,097 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total value of $5,427,346.73. Following the sale, the executive vice president now directly owns 184,626 shares of the company’s stock, valued at approximately $8,140,160.34. The trade was a 40.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the transaction, the vice president now directly owns 11,240 shares of the company’s stock, valued at $496,808. The trade was a 38.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 290,772 shares of company stock worth $12,546,660. Insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. YANKCOM Partnership purchased a new stake in shares of Schlumberger in the 4th quarter valued at $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger in the 4th quarter valued at about $32,000. Golden State Wealth Management LLC purchased a new stake in Schlumberger during the fourth quarter worth about $34,000. True Wealth Design LLC lifted its position in shares of Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 842 shares in the last quarter. Finally, Hager Investment Management Services LLC purchased a new position in shares of Schlumberger in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.