Credit Suisse Group set a $86.00 target price on Schlumberger (NYSE:SLB) in a research report released on Wednesday, March 14th. The firm currently has a buy rating on the oil and gas company’s stock.
Several other equities research analysts have also recently issued reports on SLB. Susquehanna Bancshares set a $88.00 price objective on shares of Schlumberger and gave the stock a buy rating in a research report on Monday, January 22nd. ValuEngine cut shares of Schlumberger from a hold rating to a sell rating in a research report on Thursday, March 1st. Atlantic Securities upgraded shares of Schlumberger from a neutral rating to an overweight rating in a research report on Monday, January 22nd. Barclays set a $75.00 price target on shares of Schlumberger and gave the company a hold rating in a research report on Tuesday, January 23rd. Finally, Loop Capital reiterated a buy rating and set a $82.00 price target (up from $77.00) on shares of Schlumberger in a research report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. Schlumberger presently has a consensus rating of Buy and an average price target of $81.23.
SLB opened at $64.36 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 0.40. The firm has a market cap of $89,692.70, a price-to-earnings ratio of 42.91, a P/E/G ratio of 5.11 and a beta of 1.05. Schlumberger has a 52-week low of $61.02 and a 52-week high of $80.89.
Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The firm had revenue of $8.18 billion for the quarter, compared to the consensus estimate of $8.12 billion. Schlumberger had a negative net margin of 4.94% and a positive return on equity of 5.27%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the firm posted $0.27 earnings per share. research analysts anticipate that Schlumberger will post 2.11 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Wednesday, February 7th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.11%. Schlumberger’s payout ratio is 133.33%.
In other Schlumberger news, CEO Paal Kibsgaard bought 10,000 shares of the business’s stock in a transaction dated Monday, March 26th. The shares were acquired at an average cost of $64.68 per share, with a total value of $646,800.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Mogharbel Khaled Al acquired 3,000 shares of the company’s stock in a transaction on Wednesday, March 28th. The stock was purchased at an average cost of $64.30 per share, for a total transaction of $192,900.00. Following the completion of the purchase, the insider now directly owns 30,482 shares in the company, valued at approximately $1,959,992.60. The disclosure for this purchase can be found here. Insiders bought a total of 18,000 shares of company stock worth $1,163,650 over the last ninety days. Corporate insiders own 0.48% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in SLB. Capital Analysts LLC grew its stake in shares of Schlumberger by 1.6% during the 2nd quarter. Capital Analysts LLC now owns 33,935 shares of the oil and gas company’s stock worth $2,234,000 after purchasing an additional 550 shares during the period. QCI Asset Management Inc. NY grew its stake in shares of Schlumberger by 3.6% during the 2nd quarter. QCI Asset Management Inc. NY now owns 182,583 shares of the oil and gas company’s stock worth $12,021,000 after purchasing an additional 6,367 shares during the period. IndexIQ Advisors LLC grew its stake in shares of Schlumberger by 26.6% during the 2nd quarter. IndexIQ Advisors LLC now owns 24,046 shares of the oil and gas company’s stock worth $1,584,000 after purchasing an additional 5,054 shares during the period. Motco grew its stake in shares of Schlumberger by 3.8% during the 2nd quarter. Motco now owns 46,810 shares of the oil and gas company’s stock worth $3,082,000 after purchasing an additional 1,723 shares during the period. Finally, Greenwood Capital Associates LLC grew its stake in shares of Schlumberger by 6.1% during the 2nd quarter. Greenwood Capital Associates LLC now owns 46,895 shares of the oil and gas company’s stock worth $3,087,000 after purchasing an additional 2,693 shares during the period. 79.90% of the stock is currently owned by institutional investors.
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Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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