Schlumberger (NYSE:SLB) Rating Reiterated by Stifel Nicolaus

Stifel Nicolaus reaffirmed their buy rating on shares of Schlumberger (NYSE:SLB) in a research note issued to investors on Monday morning, Benzinga reports. Stifel Nicolaus currently has a $64.00 price target on the oil and gas company’s stock.

A number of other equities analysts also recently issued reports on the stock. HSBC reiterated a buy rating and issued a $71.00 price target on shares of Schlumberger in a report on Thursday, April 4th. Barclays cut their target price on shares of Schlumberger from $74.00 to $70.00 and set an overweight rating for the company in a research report on Thursday, April 4th. The Goldman Sachs Group restated a buy rating on shares of Schlumberger in a research report on Monday, April 1st. TD Cowen cut their target price on shares of Schlumberger from $64.00 to $63.00 and set a buy rating for the company in a research report on Monday. Finally, Susquehanna restated a positive rating and set a $77.00 target price on shares of Schlumberger in a research report on Monday. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $69.67.

Schlumberger Stock Performance

Shares of SLB opened at $49.11 on Monday. The company has a 50-day simple moving average of $51.71 and a 200-day simple moving average of $52.25. 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 company has a market capitalization of $70.10 billion, a PE ratio of 16.32, a P/E/G ratio of 0.95 and a beta of 1.60. Schlumberger has a 52-week low of $42.73 and a 52-week high of $62.12.

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, meeting analysts’ consensus estimates of $0.75. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 EPS. Equities research analysts predict that Schlumberger will post 3.5 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business 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 represents a $1.10 dividend on an annualized basis and a 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 payout ratio is presently 36.54%.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, 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 legal filing with the SEC, which is available through the SEC website. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, 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 legal filing with the SEC, which is available through this link. Also, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the sale, the chief financial officer now owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,545 shares of company stock worth $4,458,430. 0.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On Schlumberger

Institutional investors have recently bought and sold shares of the business. BluePath Capital Management LLC purchased a new stake in Schlumberger during the third quarter worth approximately $25,000. MCF Advisors LLC grew its stake in Schlumberger by 1,355.9% during the third quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock worth $29,000 after buying an additional 461 shares during the period. Register Financial Advisors LLC purchased a new position in shares of Schlumberger in the first quarter valued at $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Schlumberger in the fourth quarter valued at $26,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of Schlumberger in the fourth quarter valued at $32,000. 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.