Schlumberger (SLB) Hits New 52-Week Low Following Analyst Downgrade

Schlumberger Limited. (NYSE:SLB)’s share price reached a new 52-week low during mid-day trading on Thursday after Jefferies Financial Group lowered their price target on the stock to $54.00. Jefferies Financial Group currently has a buy rating on the stock. Schlumberger traded as low as $44.02 and last traded at $42.47, with a volume of 1129404 shares traded. The stock had previously closed at $44.12.

Several other equities analysts have also weighed in on SLB. Zacks Investment Research raised shares of Schlumberger from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine raised shares of Schlumberger from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Macquarie set a $71.00 target price on shares of Schlumberger and gave the company a “hold” rating in a report on Tuesday, October 2nd. Wolfe Research began coverage on shares of Schlumberger in a report on Wednesday, October 10th. They set a “market perform” rating for the company. Finally, Stephens began coverage on shares of Schlumberger in a report on Friday, October 12th. They set a “weight” rating for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the stock. Schlumberger has an average rating of “Buy” and an average price target of $74.50.

In related news, CFO Simon Ayat sold 60,000 shares of Schlumberger stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $56.60, for a total value of $3,396,000.00. Following the sale, the chief financial officer now owns 234,008 shares of the company’s stock, valued at approximately $13,244,852.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in SLB. Glenview State Bank Trust DEPT. boosted its stake in Schlumberger by 46.6% during the 3rd quarter. Glenview State Bank Trust DEPT. now owns 31,593 shares of the oil and gas company’s stock worth $1,925,000 after purchasing an additional 10,045 shares during the last quarter. Precocity Capital LP boosted its stake in Schlumberger by 20.0% during the 2nd quarter. Precocity Capital LP now owns 60,000 shares of the oil and gas company’s stock worth $4,022,000 after purchasing an additional 10,000 shares during the last quarter. SeaTown Holdings Pte. Ltd. acquired a new stake in Schlumberger during the 3rd quarter worth $9,138,000. Cornerstone Wealth Management LLC boosted its stake in Schlumberger by 17.2% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 302,955 shares of the oil and gas company’s stock worth $4,434,000 after purchasing an additional 44,540 shares during the last quarter. Finally, John G Ullman & Associates Inc. boosted its stake in Schlumberger by 1.1% during the 3rd quarter. John G Ullman & Associates Inc. now owns 284,928 shares of the oil and gas company’s stock worth $17,358,000 after purchasing an additional 3,014 shares during the last quarter. 77.74% of the stock is currently owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.85 and a current ratio of 1.13. The company has a market capitalization of $61.10 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 4.39 and a beta of 1.04.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 19th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.57 billion. During the same quarter in the previous year, the company posted $0.42 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. On average, research analysts predict that Schlumberger Limited. will post 1.68 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Wednesday, December 5th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 4th. This represents a $2.00 annualized dividend and a yield of 4.65%. Schlumberger’s dividend payout ratio (DPR) is presently 133.33%.

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About Schlumberger (NYSE:SLB)

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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