Barclays Lowers Schlumberger (NYSE:SLB) Price Target to $53.00

Schlumberger (NYSE:SLB - Free Report) had its price objective cut by Barclays from $54.00 to $53.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the oil and gas company's stock.

Several other equities analysts also recently weighed in on SLB. BMO Capital Markets cut their target price on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Stifel Nicolaus reduced their price objective on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Monday, December 23rd. Citigroup boosted their target price on Schlumberger from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Griffin Securities downgraded Schlumberger from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. boosted their price objective on Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $55.69.

Remove Ads

Schlumberger Price Performance

Shares of NYSE:SLB traded up $0.03 during mid-day trading on Monday, reaching $42.23. The stock had a trading volume of 16,496,123 shares, compared to its average volume of 12,220,085. The company has a market cap of $57.43 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The business's 50 day moving average price is $41.22 and its 200 day moving average price is $41.50. 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 1 year low of $36.52 and a 1 year high of $55.65.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share 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 company had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9.24 billion. During the same quarter in the previous year, the business posted $0.86 earnings per share. Schlumberger's quarterly revenue was up 3.3% on a year-over-year basis. Research analysts expect that Schlumberger will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is an increase from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.70%. The ex-dividend date is Wednesday, February 5th. Schlumberger's dividend payout ratio (DPR) is currently 36.66%.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Dianne B. Ralston sold 43,161 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total value of $1,897,357.56. Following the sale, the insider now owns 235,024 shares in the company, valued at approximately $10,331,655.04. This represents a 15.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the transaction, the insider now directly owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. This trade represents a 44.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 315,905 shares of company stock worth $13,609,283 over the last quarter. 0.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SLB. YANKCOM Partnership acquired a new stake in shares of Schlumberger in the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Schlumberger in the 4th quarter worth $32,000. Golden State Wealth Management LLC acquired a new position in shares of Schlumberger during the 4th quarter valued at about $34,000. Hager Investment Management Services LLC purchased a new position in Schlumberger during the fourth quarter worth about $38,000. Finally, True Wealth Design LLC grew its stake in shares of Schlumberger by 584.7% in the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after buying an additional 842 shares during the period. 81.99% of the stock is 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.