Schlumberger (NYSE:SLB) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Schlumberger (NYSE:SLBFree Report) from a buy rating to a hold rating in a report published on Thursday.

Several other equities research analysts also recently weighed in on SLB. Morgan Stanley reaffirmed an overweight rating and issued a $65.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Susquehanna reaffirmed a positive rating and issued a $77.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Bank of America decreased their target price on Schlumberger from $63.00 to $62.00 and set a buy rating for the company in a research report on Monday, April 22nd. Barclays reduced their price target on Schlumberger from $74.00 to $70.00 and set an overweight rating for the company in a report on Thursday, April 4th. Finally, The Goldman Sachs Group reissued a buy rating on shares of Schlumberger in a report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $68.72.

Read Our Latest Report on SLB

Schlumberger Price Performance

SLB stock opened at $43.66 on Thursday. The stock has a 50-day moving average price of $49.23 and a two-hundred day moving average price of $50.28. Schlumberger has a 12-month low of $42.77 and a 12-month high of $62.12. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The company has a market cap of $62.40 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 0.83 and a beta of 1.57.

Schlumberger (NYSE:SLBGet Free Report) last issued its earnings results 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. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. The company’s revenue was up 12.6% compared to the same quarter last year. As a group, research analysts predict that Schlumberger will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.52%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio is presently 36.54%.

Insider Transactions at Schlumberger

In other news, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the sale, the chief technology officer now directly owns 33,421 shares in the company, valued at approximately $1,612,897.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the completion of the transaction, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gavin Rennick sold 38,083 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total value of $1,838,647.24. Following the completion of the transaction, the insider now directly owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLB. Turtle Creek Wealth Advisors LLC bought a new position in Schlumberger during the 4th quarter valued at $26,000. Register Financial Advisors LLC bought a new position in Schlumberger during the 1st quarter valued at $27,000. Manchester Capital Management LLC boosted its stake in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares in the last quarter. Transcendent Capital Group LLC bought a new position in Schlumberger during the 4th quarter valued at $32,000. Finally, Janiczek Wealth Management LLC boosted its stake in Schlumberger by 1,180.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 602 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

About Schlumberger

(Get Free Report)

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.

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Analyst Recommendations for Schlumberger (NYSE:SLB)

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