Schlumberger (NYSE:SLB) Given New $53.00 Price Target at Jefferies Financial Group

Schlumberger (NYSE:SLB) had its price target trimmed by Jefferies Financial Group from $54.00 to $53.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

Other analysts have also issued reports about the stock. Piper Sandler decreased their price target on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Barclays decreased their price target on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Morgan Stanley cut their price objective on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Wells Fargo & Company cut their price objective on shares of Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday, June 5th. Finally, Stifel Nicolaus cut their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $52.03.

Schlumberger Stock Up 1.9%

NYSE:SLB opened at $33.80 on Thursday. Schlumberger has a 1-year low of $31.11 and a 1-year high of $50.94. The company has a 50-day moving average of $34.49 and a 200 day moving average of $37.89. The firm has a market cap of $45.98 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 8.60 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). The firm had revenue of $8.49 billion for the quarter, compared to analysts’ expectations of $8.64 billion. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 earnings per share. As a group, research analysts anticipate that Schlumberger will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.37%. Schlumberger’s payout ratio is 38.64%.

Insider Transactions at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director now owns 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Inspire Investing LLC lifted its position in shares of Schlumberger by 1.7% during the 1st quarter. Inspire Investing LLC now owns 131,614 shares of the oil and gas company’s stock valued at $5,501,000 after buying an additional 2,222 shares in the last quarter. DLD Asset Management LP purchased a new position in Schlumberger in the 1st quarter valued at $1,530,000. Birmingham Capital Management Co. Inc. AL lifted its holdings in Schlumberger by 2.7% in the 1st quarter. Birmingham Capital Management Co. Inc. AL now owns 37,025 shares of the oil and gas company’s stock valued at $1,548,000 after purchasing an additional 990 shares in the last quarter. Strs Ohio purchased a new position in Schlumberger in the 1st quarter valued at $46,010,000. Finally, Ellsworth Advisors LLC purchased a new position in Schlumberger in the 1st quarter valued at $1,739,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.