Stifel Nicolaus Boosts Schlumberger (NYSE:SLB) Price Target to $50.00

Schlumberger (NYSE:SLBGet Rating) had its price target upped by Stifel Nicolaus from $44.00 to $50.00 in a research note released on Friday morning, The Fly reports.

Other research analysts also recently issued reports about the company. Argus raised their price objective on Schlumberger from $38.00 to $45.00 in a research note on Tuesday, January 25th. Bank of America raised their target price on Schlumberger from $42.00 to $44.00 and gave the company a buy rating in a report on Monday, January 24th. Zacks Investment Research lowered Schlumberger from a buy rating to a hold rating and set a $44.00 target price on the stock. in a report on Tuesday, March 15th. StockNews.com raised Schlumberger from a hold rating to a buy rating in a report on Friday, April 1st. Finally, Citigroup raised their target price on Schlumberger from $40.00 to $42.00 and gave the company a buy rating in a report on Monday, January 24th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Buy and an average price target of $44.45.

Shares of SLB stock opened at $41.33 on Friday. The stock’s 50 day simple moving average is $40.60 and its 200 day simple moving average is $35.46. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.91 and a current ratio of 1.22. Schlumberger has a twelve month low of $24.52 and a twelve month high of $46.27. The company has a market capitalization of $58.40 billion, a price-to-earnings ratio of 31.31 and a beta of 2.02.

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

The business also recently declared a quarterly dividend, which was paid on Thursday, April 7th. Stockholders of record on Wednesday, February 9th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Tuesday, February 8th. Schlumberger’s dividend payout ratio is presently 37.88%.

In related news, CAO Howard Guild sold 25,500 shares of Schlumberger stock in a transaction on Wednesday, January 26th. The shares were sold at an average price of $39.02, for a total transaction of $995,010.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Claudia Jaramillo sold 11,628 shares of Schlumberger stock in a transaction dated Wednesday, March 30th. The shares were sold at an average price of $43.00, for a total transaction of $500,004.00. The disclosure for this sale can be found here. Insiders sold 105,451 shares of company stock worth $4,190,908 over the last ninety days. Corporate insiders own 0.28% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dynamic Advisor Solutions LLC bought a new stake in Schlumberger in the 1st quarter valued at about $746,000. Veriti Management LLC lifted its stake in shares of Schlumberger by 8.4% in the first quarter. Veriti Management LLC now owns 39,451 shares of the oil and gas company’s stock worth $1,630,000 after buying an additional 3,041 shares during the last quarter. Maryland State Retirement & Pension System increased its position in Schlumberger by 1.9% during the first quarter. Maryland State Retirement & Pension System now owns 108,259 shares of the oil and gas company’s stock worth $4,472,000 after acquiring an additional 2,029 shares during the period. Arden Trust Co increased its holdings in Schlumberger by 22.2% in the 1st quarter. Arden Trust Co now owns 24,710 shares of the oil and gas company’s stock valued at $1,021,000 after buying an additional 4,493 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of Schlumberger by 4.1% in the 1st quarter. Nordea Investment Management AB now owns 863,765 shares of the oil and gas company’s stock valued at $36,114,000 after purchasing an additional 34,258 shares in the last quarter. 75.52% of the stock is owned by institutional investors and hedge funds.

About Schlumberger (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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