Schlumberger (NYSE:SLB) Price Target Cut to $59.00 by Analysts at Jefferies Financial Group

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

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets reduced their price target on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Barclays decreased their target price on Schlumberger from $61.00 to $53.00 and set an "overweight" rating for the company in a research report on Wednesday, December 18th. Citigroup upped their price target on Schlumberger from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Stifel Nicolaus lowered their target price on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, December 23rd. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $57.00 price target on shares of Schlumberger in a research report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $55.69.

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Schlumberger Price Performance

SLB stock traded down $0.24 on Thursday, hitting $41.87. 12,887,648 shares of the company's stock traded hands, compared to its average volume of 12,188,001. The stock has a market cap of $56.93 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 10.10 and a beta of 1.47. Schlumberger has a 1-year low of $36.52 and a 1-year high of $55.65. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The stock has a fifty day moving average of $41.29 and a 200-day moving average of $41.46.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion during 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%. The company's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 EPS. On average, analysts forecast that Schlumberger will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This is a boost from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.72%. Schlumberger's payout ratio is currently 36.66%.

Insider Activity at Schlumberger

In related news, insider Bejar Carmen Rando sold 5,524 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the sale, the insider now directly owns 30,829 shares of the company's stock, valued at $1,245,799.89. The trade was a 15.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the transaction, the executive vice president now directly owns 210,502 shares in the company, valued at approximately $8,723,202.88. This trade represents a 22.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock valued at $12,546,660 in the last 90 days. 0.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Schlumberger

Several hedge funds have recently added to or reduced their stakes in SLB. CX Institutional raised its position in shares of Schlumberger by 2.4% in the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company's stock valued at $398,000 after acquiring an additional 244 shares during the period. TCW Group Inc. raised its holdings in Schlumberger by 1.3% in the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company's stock worth $759,000 after purchasing an additional 259 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Schlumberger by 0.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company's stock worth $2,174,000 after purchasing an additional 262 shares in the last quarter. Vident Advisory LLC grew its holdings in shares of Schlumberger by 1.0% in the 4th quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock valued at $1,067,000 after buying an additional 273 shares during the period. Finally, Glen Eagle Advisors LLC increased its position in shares of Schlumberger by 3.7% in the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock valued at $301,000 after buying an additional 282 shares in the last quarter. Institutional investors and hedge funds 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.