Cowen Raises Schlumberger (NYSE:SLB) Price Target to $49.00

Schlumberger (NYSE:SLBGet Rating) had its target price increased by Cowen from $47.00 to $49.00 in a research report report published on Monday, The Fly reports.

A number of other analysts also recently commented on the company. Morgan Stanley reduced their price objective on Schlumberger from $50.00 to $45.00 and set an overweight rating for the company in a research report on Wednesday, July 13th. Wells Fargo & Company reduced their price objective on Schlumberger from $56.00 to $55.00 and set an overweight rating for the company in a research report on Monday, April 25th. The Goldman Sachs Group dropped their target price on Schlumberger from $54.00 to $45.00 and set a buy rating for the company in a report on Wednesday, July 13th. StockNews.com cut Schlumberger from a buy rating to a hold rating in a report on Monday, April 25th. Finally, HSBC raised Schlumberger from a hold rating to a buy rating and increased their target price for the stock from $4.60 to $44.20 in a report on Wednesday, April 27th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $46.77.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $36.17 on Monday. The business has a 50 day moving average price of $39.52 and a 200 day moving average price of $39.92. The company has a quick ratio of 0.98, a current ratio of 1.35 and a debt-to-equity ratio of 0.78. Schlumberger has a twelve month low of $25.90 and a twelve month high of $49.83. The company has a market cap of $51.12 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 0.53 and a beta of 1.93.

Schlumberger (NYSE:SLBGet Rating) last announced its quarterly earnings data on Friday, July 22nd. The oil and gas company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. Schlumberger had a return on equity of 15.06% and a net margin of 10.56%. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter last year, the company earned $0.30 EPS. The company’s quarterly revenue was up 20.2% on a year-over-year basis. Research analysts predict that Schlumberger will post 1.86 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Wednesday, September 7th will be given a $0.175 dividend. The ex-dividend date is Tuesday, September 6th. This represents a $0.70 dividend on an annualized basis and a yield of 1.94%. Schlumberger’s payout ratio is 38.04%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 20,000 shares of the stock in a transaction on Friday, May 6th. The stock was sold at an average price of $43.32, for a total value of $866,400.00. Following the transaction, the director now directly owns 46,529 shares in the company, valued at approximately $2,015,636.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Gavin Rennick sold 10,759 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $46.70, for a total value of $502,445.30. Following the transaction, the insider now directly owns 38,044 shares in the company, valued at approximately $1,776,654.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 20,000 shares of the firm’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $43.32, for a total value of $866,400.00. Following the completion of the transaction, the director now owns 46,529 shares in the company, valued at $2,015,636.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,567,459 shares of company stock worth $430,840,521. Insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SLB. Equitec Proprietary Markets LLC bought a new position in shares of Schlumberger in the 4th quarter worth $25,000. Sugarloaf Wealth Management LLC boosted its position in shares of Schlumberger by 1,059.6% in the 1st quarter. Sugarloaf Wealth Management LLC now owns 603 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 551 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Schlumberger in the 1st quarter worth $25,000. JFS Wealth Advisors LLC boosted its position in shares of Schlumberger by 95.6% in the 1st quarter. JFS Wealth Advisors LLC now owns 618 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 302 shares during the last quarter. Finally, WD Rutherford LLC bought a new position in shares of Schlumberger in the 1st quarter worth $26,000. 76.34% of the stock is currently owned by institutional investors.

About Schlumberger

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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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