Schlumberger (NYSE:SLB) Price Target Cut to $59.00 by Analysts at Stifel Nicolaus

Schlumberger (NYSE:SLB) had its target price cut by Stifel Nicolaus from $60.00 to $59.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

Several other brokerages also recently issued reports on SLB. Susquehanna lowered their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Morgan Stanley reduced their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. lowered their price objective on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Finally, Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday. Five analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.79.

Schlumberger Stock Performance

NYSE SLB opened at $37.26 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger has a 1-year low of $36.52 and a 1-year high of $55.69. The firm has a market capitalization of $52.62 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.42 and a beta of 1.51. The business’s 50-day simple moving average is $42.06 and its 200-day simple moving average is $43.76.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same period in the previous year, the company posted $0.78 earnings per share. Schlumberger’s revenue was up 10.2% compared to the same quarter last year. Equities analysts predict that Schlumberger will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.95%. Schlumberger’s payout ratio is 35.37%.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ORG Partners LLC lifted its holdings in shares of Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in Schlumberger in the third quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Schlumberger during the third quarter valued at $37,000. DiNuzzo Private Wealth Inc. grew its position in shares of Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in shares of Schlumberger in the 3rd quarter worth about $47,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.