Schlumberger (NYSE:SLB) Receives Overweight Rating from Morgan Stanley

Morgan Stanley reiterated their overweight rating on shares of Schlumberger (NYSE:SLB) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $65.00 price objective on the oil and gas company’s stock.

A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Schlumberger from $69.00 to $70.00 and gave the company an overweight rating in a research report on Monday, January 22nd. Royal Bank of Canada boosted their price target on Schlumberger from $66.00 to $69.00 and gave the company an outperform rating in a report on Wednesday, April 3rd. BMO Capital Markets lowered their price objective on Schlumberger from $66.00 to $64.00 and set an outperform rating on the stock in a research report on Monday. HSBC reissued a buy rating and issued a $71.00 target price on shares of Schlumberger in a report on Thursday, April 4th. Finally, Benchmark reiterated a buy rating and issued a $68.00 price target on shares of Schlumberger in a research report on Monday. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $69.67.

Schlumberger Stock Down 0.7 %

Schlumberger stock opened at $49.52 on Monday. The stock has a market cap of $70.68 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The stock has a fifty day moving average of $51.64 and a 200 day moving average of $52.32. Schlumberger has a one year low of $42.73 and a one year high of $62.12.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 EPS. As a group, sell-side analysts predict that Schlumberger will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be given a $0.275 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s payout ratio is currently 36.54%.

Insider Buying and Selling at Schlumberger

In other news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $11,816,212.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Howard Guild sold 22,853 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $51.66, for a total value of $1,180,585.98. Following the completion of the sale, the chief accounting officer now directly owns 22,181 shares of the company’s stock, valued at approximately $1,145,870.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total value of $304,000.00. Following the transaction, the chief financial officer now directly owns 242,932 shares in the company, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. Insiders sold 133,621 shares of company stock worth $6,691,623 in the last quarter. 0.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Hanson & Doremus Investment Management raised its position in Schlumberger by 1.7% in the 1st quarter. Hanson & Doremus Investment Management now owns 58,321 shares of the oil and gas company’s stock worth $3,197,000 after purchasing an additional 973 shares during the period. Forza Wealth Management LLC purchased a new position in Schlumberger during the 1st quarter worth $207,000. Greystone Financial Group LLC raised its holdings in shares of Schlumberger by 37.9% in the first quarter. Greystone Financial Group LLC now owns 158,255 shares of the oil and gas company’s stock valued at $8,674,000 after acquiring an additional 43,502 shares in the last quarter. PFG Investments LLC bought a new stake in shares of Schlumberger in the 1st quarter valued at about $807,000. Finally, Altfest L J & Co. Inc. bought a new position in Schlumberger in the first quarter worth approximately $322,000. 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.