Schlumberger (NYSE:SLB) Price Target Cut to $64.00 by Analysts at BMO Capital Markets

Schlumberger (NYSE:SLB) had its price target decreased by BMO Capital Markets from $66.00 to $64.00 in a research note published on Monday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the oil and gas company’s stock.

SLB has been the topic of several other research reports. HSBC reaffirmed a buy rating and set a $71.00 price objective on shares of Schlumberger in a report on Thursday, April 4th. Barclays lowered their price target on Schlumberger from $74.00 to $70.00 and set an overweight rating on the stock in a report on Thursday, April 4th. Royal Bank of Canada raised their price target on Schlumberger from $66.00 to $69.00 and gave the stock an outperform rating in a report on Wednesday, April 3rd. Benchmark reissued a buy rating and set a $68.00 price target on shares of Schlumberger in a report on Wednesday, April 3rd. Finally, The Goldman Sachs Group reissued a buy rating on shares of Schlumberger in a report on Monday, April 1st. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $69.67.

Schlumberger Stock Performance

Shares of SLB stock opened at $49.11 on Monday. The stock’s 50-day moving average is $51.71 and its two-hundred day moving average is $52.25. The firm has a market cap of $70.10 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 0.95 and a beta of 1.60. Schlumberger has a 1 year low of $42.73 and a 1 year high of $62.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 earnings per share. Analysts predict that Schlumberger will post 3.5 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.24%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Activity

In other news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 249,182 shares in the company, valued at approximately $13,151,825.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 249,182 shares in the company, valued at approximately $13,151,825.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Katharina Beumelburg sold 8,000 shares of Schlumberger stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.62, for a total transaction of $420,960.00. Following the sale, the insider now owns 15,581 shares of the company’s stock, valued at $819,872.22. The disclosure for this sale can be found here. In the last three months, insiders sold 90,545 shares of company stock worth $4,458,430. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

A number of large investors have recently bought and sold shares of SLB. Investment Advisory Services Inc. TX ADV lifted its position in shares of Schlumberger by 1.4% in the third quarter. Investment Advisory Services Inc. TX ADV now owns 11,968 shares of the oil and gas company’s stock valued at $698,000 after acquiring an additional 171 shares in the last quarter. Miller Howard Investments Inc. NY raised its stake in Schlumberger by 0.5% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 32,845 shares of the oil and gas company’s stock valued at $1,915,000 after purchasing an additional 176 shares during the last quarter. Stonegate Investment Group LLC boosted its stake in shares of Schlumberger by 1.7% during the 3rd quarter. Stonegate Investment Group LLC now owns 10,864 shares of the oil and gas company’s stock worth $633,000 after purchasing an additional 177 shares during the last quarter. CI Investments Inc. boosted its stake in shares of Schlumberger by 4.9% during the 3rd quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock worth $241,000 after purchasing an additional 192 shares during the last quarter. Finally, Montgomery Investment Management Inc. boosted its stake in shares of Schlumberger by 1.9% during the 3rd quarter. Montgomery Investment Management Inc. now owns 10,920 shares of the oil and gas company’s stock worth $637,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds 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.