Schlumberger (NYSE:SLB) Given New $50.00 Price Target at Morgan Stanley

Schlumberger (NYSE:SLBGet Rating) had its target price hoisted by Morgan Stanley from $43.00 to $50.00 in a research note published on Monday morning, Marketbeat reports. They currently have an overweight rating on the oil and gas company’s stock.

Several other equities research analysts also recently weighed in on the company. Exane BNP Paribas upgraded Schlumberger from a neutral rating to an outperform rating and set a $45.00 price target on the stock in a report on Wednesday, January 26th. Citigroup upped their price target on Schlumberger from $40.00 to $42.00 and gave the stock a buy rating in a report on Monday, January 24th. Stifel Nicolaus upped their price target on Schlumberger from $44.00 to $50.00 in a report on Friday. Argus upped their price target on Schlumberger from $38.00 to $45.00 in a report on Tuesday, January 25th. Finally, JPMorgan Chase & Co. upped their price target on Schlumberger from $40.00 to $43.00 and gave the stock an overweight rating in a report on Monday, January 24th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus target price of $44.45.

SLB stock opened at $41.33 on Monday. The company has a current ratio of 1.22, a quick ratio of 0.91 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $58.40 billion, a PE ratio of 31.31 and a beta of 2.02. Schlumberger has a 12-month low of $24.52 and a 12-month high of $46.27. The business’s fifty day moving average price is $40.60 and its 200 day moving average price is $35.46.

Schlumberger (NYSE:SLBGet Rating) last posted its quarterly earnings data on Friday, January 21st. The oil and gas company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The firm had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $6.09 billion. Schlumberger had a return on equity of 13.32% and a net margin of 8.20%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 EPS. Research analysts predict that Schlumberger will post 1.89 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 7th. Investors of record on Wednesday, February 9th were given a $0.125 dividend. The ex-dividend date was Tuesday, February 8th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.21%. Schlumberger’s dividend payout ratio (DPR) is presently 37.88%.

In other Schlumberger news, CAO Howard Guild sold 25,500 shares of the stock in a transaction that occurred on Wednesday, January 26th. The stock was sold at an average price of $39.02, for a total transaction of $995,010.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pierre Chereque sold 8,249 shares of the stock in a transaction that occurred on Wednesday, February 2nd. The stock was sold at an average price of $39.31, for a total value of $324,268.19. The disclosure for this sale can be found here. Over the last three months, insiders sold 105,451 shares of company stock valued at $4,190,908. Insiders own 0.28% of the company’s stock.

A number of institutional investors have recently bought and sold shares of SLB. Norges Bank acquired a new stake in Schlumberger during the 4th quarter worth approximately $938,856,000. BlackRock Inc. lifted its position in Schlumberger by 16.9% during the 4th quarter. BlackRock Inc. now owns 111,487,119 shares of the oil and gas company’s stock worth $3,339,042,000 after acquiring an additional 16,123,949 shares during the period. Deutsche Bank AG raised its stake in shares of Schlumberger by 31.0% during the 3rd quarter. Deutsche Bank AG now owns 20,260,955 shares of the oil and gas company’s stock worth $600,534,000 after buying an additional 4,796,866 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Schlumberger by 4,009.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,846,942 shares of the oil and gas company’s stock worth $144,534,000 after buying an additional 4,728,994 shares in the last quarter. Finally, GQG Partners LLC purchased a new position in shares of Schlumberger during the 4th quarter worth approximately $55,242,000. 75.52% of the stock is owned by institutional investors.

Schlumberger Company Profile (Get Rating)

Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

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