Schlumberger (NYSE:SLB) Price Target Cut to $63.00 by Analysts at TD Cowen

Schlumberger (NYSE:SLB) had its price objective trimmed by TD Cowen from $64.00 to $63.00 in a report issued on Monday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

Several other equities analysts have also recently issued reports on SLB. Benchmark reiterated a buy rating and set a $68.00 target price on shares of Schlumberger in a research report on Wednesday, April 3rd. Susquehanna reaffirmed a positive rating and set a $77.00 price target on shares of Schlumberger in a research note on Monday, April 8th. Stifel Nicolaus boosted their price objective on shares of Schlumberger from $63.00 to $64.00 and gave the stock a buy rating in a report on Monday, January 22nd. Royal Bank of Canada lifted their price target on shares of Schlumberger from $66.00 to $69.00 and gave the company an outperform rating in a research report on Wednesday, April 3rd. Finally, Wells Fargo & Company lifted their price objective on Schlumberger from $69.00 to $70.00 and gave the stock an overweight rating in a report on Monday, January 22nd. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Schlumberger currently has a consensus rating of Moderate Buy and a consensus target price of $69.67.

Schlumberger Stock Performance

NYSE SLB opened at $49.45 on Monday. The company has a market cap of $70.58 billion, a P/E ratio of 16.43, a P/E/G ratio of 0.96 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 current ratio of 1.37 and a quick ratio of 1.02. The stock has a 50-day moving average of $51.73 and a two-hundred day moving average of $52.23.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. Schlumberger’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share. As a group, analysts anticipate that Schlumberger will post 3.5 EPS for the current year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Wednesday, June 5th. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Schlumberger by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock worth $6,883,928,000 after acquiring an additional 1,753,108 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Schlumberger by 12.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock valued at $3,922,768,000 after buying an additional 8,617,971 shares in the last quarter. Capital World Investors lifted its holdings in Schlumberger by 2.2% during the fourth quarter. Capital World Investors now owns 51,617,471 shares of the oil and gas company’s stock worth $2,686,173,000 after acquiring an additional 1,133,686 shares in the last quarter. FMR LLC raised its position in shares of Schlumberger by 1.1% during the third quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock worth $1,584,099,000 after purchasing an additional 282,709 shares during the period. Finally, Norges Bank acquired a new position in shares of Schlumberger in the 4th quarter valued at approximately $1,000,292,000. 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.