Schlumberger (NYSE:SLB) PT Raised to $63.00 at Bank of America

Schlumberger (NYSE:SLB) had its price target lifted by Bank of America from $62.00 to $63.00 in a research report sent to investors on Monday, Benzinga reports. Bank of America currently has a buy rating on the oil and gas company’s stock.

A number of other equities research analysts have also issued reports on the stock. Stifel Nicolaus raised their price target on shares of Schlumberger from $63.00 to $64.00 and gave the stock a buy rating in a report on Monday, January 22nd. HSBC reissued a buy rating and issued a $71.00 price target on shares of Schlumberger in a report on Thursday, April 4th. Wells Fargo & Company raised their price target on shares of Schlumberger from $69.00 to $70.00 and gave the stock an overweight rating in a report on Monday, January 22nd. Benchmark reissued a buy rating and issued a $68.00 price target on shares of Schlumberger in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada lifted their target price on shares of Schlumberger from $66.00 to $69.00 and gave the company an outperform rating in a research note on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $70.31.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $51.67 on Monday. The stock has a market cap of $73.75 billion, a PE ratio of 17.70, a PEG ratio of 0.94 and a beta of 1.60. The company’s fifty day moving average is $51.36 and its 200 day moving average is $52.56. Schlumberger has a 52 week low of $42.73 and a 52 week high of $62.12. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 19th. The oil and gas company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $8.99 billion for the quarter, compared to analysts’ expectations of $8.96 billion. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 EPS. Research analysts anticipate that Schlumberger will post 3.52 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Wednesday, February 7th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.94%. The ex-dividend date was Tuesday, February 6th. Schlumberger’s payout ratio is currently 34.25%.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the transaction, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The disclosure for this sale can be found here. Insiders have sold 172,191 shares of company stock valued at $8,636,322 over the last quarter. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SLB. Vanguard Group Inc. raised its holdings in shares of Schlumberger by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock valued at $6,883,928,000 after purchasing an additional 1,753,108 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Schlumberger by 12.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock valued at $3,922,768,000 after purchasing an additional 8,617,971 shares during the last quarter. Capital World Investors raised its holdings in shares of Schlumberger by 2.2% during the fourth quarter. Capital World Investors now owns 51,617,471 shares of the oil and gas company’s stock valued at $2,686,173,000 after purchasing an additional 1,133,686 shares during the last quarter. FMR LLC raised its holdings in shares of Schlumberger by 1.1% during the third quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock valued at $1,584,099,000 after purchasing an additional 282,709 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Schlumberger by 1.6% during the first quarter. Geode Capital Management LLC now owns 25,347,967 shares of the oil and gas company’s stock valued at $1,241,319,000 after purchasing an additional 401,606 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.