Schlumberger (NYSE:SLB) Given New $48.00 Price Target at Susquehanna

Schlumberger (NYSE:SLB) had its price target trimmed by Susquehanna from $55.00 to $48.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a positive rating on the oil and gas company’s stock.

A number of other analysts have also issued reports on SLB. TD Cowen increased their target price on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Citigroup raised their price objective on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Barclays decreased their price target on shares of Schlumberger from $54.00 to $53.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.21.

Schlumberger Trading Down 0.2 %

Shares of SLB opened at $33.90 on Monday. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger has a 1-year low of $31.11 and a 1-year high of $52.91. The stock has a market capitalization of $46.10 billion, a P/E ratio of 10.90, a P/E/G ratio of 10.10 and a beta of 1.11. The business’s 50-day moving average price is $39.85 and its 200 day moving average price is $40.97.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. During the same period last year, the firm posted $0.86 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts expect that Schlumberger will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th were issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Insider Activity

In other news, insider Aparna Raman sold 25,133 shares of the firm’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the sale, the insider now directly owns 31,031 shares of the company’s stock, valued at approximately $1,311,990.68. This trade represents a 44.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total value of $1,104,430.80. Following the transaction, the insider now directly owns 53,584 shares of the company’s stock, valued at $2,192,657.28. This represents a 33.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 315,905 shares of company stock valued at $13,609,283 over the last 90 days. 0.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Schlumberger

Several hedge funds and other institutional investors have recently modified their holdings of SLB. YANKCOM Partnership bought a new position in shares of Schlumberger during the 4th quarter worth about $31,000. Stonebridge Financial Group LLC acquired a new stake in Schlumberger during the fourth quarter worth about $32,000. Golden State Wealth Management LLC bought a new position in Schlumberger during the fourth quarter valued at about $34,000. Hager Investment Management Services LLC acquired a new position in Schlumberger in the 4th quarter valued at approximately $38,000. Finally, True Wealth Design LLC lifted its position in shares of Schlumberger by 584.7% in the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 842 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Company Profile

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.