TD Cowen Cuts Schlumberger (NYSE:SLB) Price Target to $63.00

Schlumberger (NYSE:SLB) had its price target cut by TD Cowen from $64.00 to $63.00 in a research note released on Monday, MarketBeat reports. They currently have a buy rating on the oil and gas company’s stock.

A number of other analysts also recently commented on the company. Bank of America dropped their price objective on Schlumberger from $63.00 to $62.00 and set a buy rating for the company in a report on Monday. Susquehanna reiterated a positive rating and issued a $77.00 price target on shares of Schlumberger in a report on Monday, April 8th. Stifel Nicolaus increased their price target on Schlumberger from $63.00 to $64.00 and gave the company a buy rating in a report on Monday, January 22nd. Barclays lowered their price target on Schlumberger from $74.00 to $70.00 and set an overweight rating for the company in a report on Thursday, April 4th. Finally, HSBC reiterated a buy rating and issued a $71.00 price target on shares of Schlumberger in a report on Thursday, April 4th. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $69.67.

Schlumberger Trading Down 0.9 %

Shares of SLB opened at $49.11 on Monday. The stock has a fifty day moving average of $51.71 and a two-hundred day moving average of $52.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The company has a market capitalization of $70.10 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. Schlumberger has a fifty-two week low of $42.73 and a fifty-two week high of $62.12.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting 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 return on equity of 21.88% and a net margin of 12.72%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. As a group, analysts forecast that Schlumberger will post 3.5 EPS for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.24%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Transactions at Schlumberger

In other news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the transaction, the chief financial officer now owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Schlumberger 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 value of $420,960.00. Following 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the transaction, the chief financial officer now directly owns 249,182 shares in the company, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,545 shares of company stock valued at $4,458,430. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

A number of large investors have recently bought and sold shares of the business. Investment Advisory Services Inc. TX ADV increased its stake in shares of Schlumberger by 1.4% in the third quarter. Investment Advisory Services Inc. TX ADV now owns 11,968 shares of the oil and gas company’s stock valued at $698,000 after purchasing an additional 171 shares during the period. Miller Howard Investments Inc. NY increased its stake in shares of Schlumberger by 0.5% in the third quarter. Miller Howard Investments Inc. NY now owns 32,845 shares of the oil and gas company’s stock valued at $1,915,000 after purchasing an additional 176 shares during the period. Stonegate Investment Group LLC increased its stake in shares of Schlumberger by 1.7% in the third quarter. Stonegate Investment Group LLC now owns 10,864 shares of the oil and gas company’s stock valued at $633,000 after purchasing an additional 177 shares during the period. CI Investments Inc. increased its stake in shares of Schlumberger by 4.9% in the third quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock valued at $241,000 after purchasing an additional 192 shares during the period. Finally, Montgomery Investment Management Inc. increased its stake in shares of Schlumberger by 1.9% in the third quarter. Montgomery Investment Management Inc. now owns 10,920 shares of the oil and gas company’s stock valued at $637,000 after purchasing an additional 200 shares during the period. Institutional investors own 81.99% of the company’s stock.

About Schlumberger

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.