Susquehanna Cuts Schlumberger (NYSE:SLB) Price Target to $70.00

Schlumberger (NYSE:SLB) had its price target decreased by Susquehanna from $77.00 to $70.00 in a research report report published on Thursday, Benzinga reports. Susquehanna currently has a positive rating on the oil and gas company’s stock.

Several other analysts have also recently issued reports on the company. Morgan Stanley reaffirmed an overweight rating and set a $65.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. Wells Fargo & Company downgraded shares of Schlumberger from an overweight rating to an equal weight rating and decreased their price target for the company from $68.00 to $53.00 in a research note on Monday, April 29th. Bank of America dropped their price objective on shares of Schlumberger from $63.00 to $62.00 and set a buy rating for the company in a research note on Monday, April 22nd. Benchmark restated a buy rating and set a $68.00 target price on shares of Schlumberger in a research report on Tuesday, June 25th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $64.00 price target on shares of Schlumberger in a report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger presently has a consensus rating of Moderate Buy and a consensus target price of $68.18.

Schlumberger Stock Up 0.5 %

SLB opened at $46.42 on Thursday. Schlumberger has a fifty-two week low of $42.61 and a fifty-two week high of $62.12. 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 market cap of $66.35 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55. The firm’s fifty day moving average is $46.24 and its 200 day moving average is $49.15.

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

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th were paid a $0.275 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.37%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the transaction, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the transaction, the insider now directly owns 45,851 shares in the company, valued at approximately $2,213,686.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the sale, the insider now owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,158 shares of company stock worth $5,099,893. 0.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Schlumberger

Several institutional investors and hedge funds have recently bought and sold shares of SLB. Carolinas Wealth Consulting LLC grew its holdings in shares of Schlumberger by 53.5% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 683 shares during the last quarter. Highland Capital Management LLC increased its holdings in shares of Schlumberger by 2,494.0% in the fourth quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock valued at $5,278,000 after purchasing an additional 97,516 shares during the period. Nordea Investment Management AB raised its stake in shares of Schlumberger by 36.4% in the fourth quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock worth $74,080,000 after purchasing an additional 380,185 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Schlumberger by 6.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock worth $31,726,000 after purchasing an additional 35,763 shares during the period. Finally, Sapient Capital LLC purchased a new stake in Schlumberger in the fourth quarter valued at approximately $1,389,000. 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.