Schlumberger (NYSE:SLB) Lowered to Equal Weight at Wells Fargo & Company

Wells Fargo & Company cut shares of Schlumberger (NYSE:SLB) from an overweight rating to an equal weight rating in a research note issued to investors on Monday, MarketBeat reports. Wells Fargo & Company currently has $53.00 price target on the oil and gas company’s stock, down from their previous price target of $68.00.

Other equities analysts have also recently issued reports about the company. Bank of America decreased their target price on Schlumberger from $63.00 to $62.00 and set a buy rating on the stock in a report on Monday, April 22nd. Morgan Stanley restated an overweight rating and issued a $65.00 target price on shares of Schlumberger in a report on Monday, April 22nd. BMO Capital Markets decreased their target price on Schlumberger from $66.00 to $64.00 and set an outperform rating on the stock in a report on Monday, April 22nd. The Goldman Sachs Group restated a buy rating on shares of Schlumberger in a report on Monday, April 1st. Finally, Stifel Nicolaus restated a buy rating and issued a $64.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $68.72.

Schlumberger Trading Down 0.7 %

NYSE:SLB opened at $47.16 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average is $51.69 and its two-hundred day moving average is $51.90. Schlumberger has a 52 week low of $42.73 and a 52 week high of $62.12. The company has a market cap of $67.41 billion, a PE ratio of 15.67, a P/E/G ratio of 0.95 and a beta of 1.60.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results 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. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter last year, the business posted $0.63 EPS. The business’s revenue was up 12.6% on a year-over-year basis. On average, analysts predict that Schlumberger will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a $0.275 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.33%. Schlumberger’s payout ratio is presently 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.64, for a total value of $304,000.00. Following the completion of the sale, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now owns 242,932 shares in the company, valued at $11,816,212.48. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Institutional investors have recently modified their holdings of the business. BluePath Capital Management LLC purchased a new stake in shares of Schlumberger during the 3rd quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Schlumberger during the 4th quarter valued at approximately $26,000. Register Financial Advisors LLC purchased a new stake in shares of Schlumberger during the 1st quarter valued at approximately $27,000. Transcendent Capital Group LLC purchased a new stake in shares of Schlumberger during the 4th quarter valued at approximately $32,000. Finally, Janiczek Wealth Management LLC lifted its stake in shares of Schlumberger by 1,180.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 602 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

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.