Stifel Nicolaus Cuts Schlumberger (NYSE:SLB) Price Target to $59.00

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

A number of other brokerages have also weighed in on SLB. Piper Sandler assumed coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective on the stock. Barclays lowered their price objective on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. JPMorgan Chase & Co. cut their price target on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a report on Thursday, October 3rd. Finally, Bank of America reduced their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Five analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and an average price target of $58.79.

Schlumberger Stock Performance

Shares of NYSE SLB opened at $37.73 on Monday. Schlumberger has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a market cap of $53.28 billion, a P/E ratio of 12.13, a P/E/G ratio of 1.42 and a beta of 1.51. The firm’s fifty day moving average is $41.81 and its two-hundred day moving average is $43.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48.

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

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

Insider Activity at Schlumberger

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. ORG Partners LLC lifted its stake 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 acquiring an additional 484 shares during the period. Prospera Private Wealth LLC purchased a new stake in shares of Schlumberger during the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new position in Schlumberger during the third quarter worth $37,000. DiNuzzo Private Wealth Inc. lifted its stake in shares of Schlumberger by 1,068.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after buying an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in Schlumberger in the 3rd quarter worth $47,000. 81.99% of the stock is currently owned by 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.