Schlumberger (NYSE:SLB) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Schlumberger (NYSE:SLBGet Rating) from a hold rating to a buy rating in a research note released on Friday morning.

SLB has been the topic of several other reports. Wells Fargo & Company boosted their target price on Schlumberger from $51.00 to $69.00 and gave the stock an overweight rating in a research note on Wednesday, October 26th. Jefferies Financial Group began coverage on Schlumberger in a research note on Wednesday, October 19th. They set a buy rating and a $59.00 target price on the stock. Royal Bank of Canada lifted their price target on Schlumberger from $59.00 to $66.00 and gave the stock an outperform rating in a research report on Tuesday, November 8th. Benchmark lifted their price target on Schlumberger to $58.00 in a research report on Thursday, October 27th. Finally, TheStreet raised Schlumberger from a c+ rating to a b rating in a research report on Tuesday, October 11th. Twenty research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $53.47.

Schlumberger Trading Down 1.4 %

Shares of NYSE:SLB opened at $54.07 on Friday. Schlumberger has a 12-month low of $27.65 and a 12-month high of $56.04. The business’s fifty day simple moving average is $44.00 and its 200-day simple moving average is $40.60. The company has a market capitalization of $76.67 billion, a PE ratio of 26.00, a P/E/G ratio of 0.65 and a beta of 1.87. The company has a current ratio of 1.40, a quick ratio of 1.03 and a debt-to-equity ratio of 0.71.

Schlumberger (NYSE:SLBGet Rating) last announced its quarterly earnings results on Friday, October 21st. The oil and gas company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. Schlumberger had a return on equity of 16.58% and a net margin of 11.26%. The business had revenue of $7.48 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period last year, the business posted $0.36 EPS. The business’s revenue was up 27.9% compared to the same quarter last year. As a group, equities research analysts predict that Schlumberger will post 2.13 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 12th. Investors of record on Wednesday, December 7th will be issued a $0.175 dividend. The ex-dividend date of this dividend is Tuesday, December 6th. This represents a $0.70 dividend on an annualized basis and a yield of 1.29%. Schlumberger’s payout ratio is 33.65%.

Insider Buying and Selling

In related news, CAO Howard Guild sold 20,053 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $53.00, for a total value of $1,062,809.00. Following the completion of the transaction, the chief accounting officer now owns 35,994 shares of the company’s stock, valued at approximately $1,907,682. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Schlumberger news, CAO Howard Guild sold 20,053 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $53.00, for a total transaction of $1,062,809.00. Following the completion of the sale, the chief accounting officer now directly owns 35,994 shares in the company, valued at approximately $1,907,682. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Kevin Fyfe sold 6,095 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $53.00, for a total value of $323,035.00. Following the sale, the vice president now owns 35,535 shares of the company’s stock, valued at $1,883,355. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,393,648 shares of company stock valued at $190,979,619. 0.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Schlumberger

Several large investors have recently bought and sold shares of the company. Horizon Investments LLC increased its stake in Schlumberger by 8.5% during the 3rd quarter. Horizon Investments LLC now owns 15,571 shares of the oil and gas company’s stock worth $559,000 after buying an additional 1,218 shares in the last quarter. Ameritas Advisory Services LLC grew its position in shares of Schlumberger by 4.2% in the third quarter. Ameritas Advisory Services LLC now owns 11,280 shares of the oil and gas company’s stock valued at $405,000 after purchasing an additional 456 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of Schlumberger by 178.0% in the third quarter. Macquarie Group Ltd. now owns 3,547,956 shares of the oil and gas company’s stock valued at $127,371,000 after purchasing an additional 2,271,485 shares in the last quarter. Gamco Investors INC. ET AL grew its position in shares of Schlumberger by 30.1% in the third quarter. Gamco Investors INC. ET AL now owns 173,286 shares of the oil and gas company’s stock valued at $6,221,000 after purchasing an additional 40,076 shares in the last quarter. Finally, Gabelli Funds LLC grew its position in shares of Schlumberger by 5.1% in the third quarter. Gabelli Funds LLC now owns 493,900 shares of the oil and gas company’s stock valued at $17,731,000 after purchasing an additional 24,000 shares in the last quarter. 78.71% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Schlumberger (NYSE:SLB)

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