Barclays upgraded shares of Schlumberger (NYSE:SLB) from an equal weight rating to an overweight rating in a research report released on Monday, BenzingaRatingsTable reports. Barclays currently has $50.00 price target on the oil and gas company’s stock, up from their previous price target of $45.00.
SLB has been the subject of a number of other research reports. Gabelli started coverage on Schlumberger in a research report on Thursday, June 27th. They set a buy rating and a $55.00 price objective for the company. Raymond James reiterated a hold rating on shares of Schlumberger in a research note on Friday, June 21st. JPMorgan Chase & Co. cut their target price on Schlumberger from $41.00 to $34.00 and set a neutral rating on the stock in a research note on Monday, September 9th. Piper Jaffray Companies set a $40.00 target price on Schlumberger and gave the company a buy rating in a research note on Monday, July 1st. Finally, AltaCorp Capital reiterated an outperform rating on shares of Schlumberger in a research note on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Schlumberger currently has an average rating of Buy and an average price target of $51.11.
SLB stock opened at $37.76 on Monday. Schlumberger has a twelve month low of $31.03 and a twelve month high of $63.65. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.47. The firm has a market cap of $54.37 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 2.77 and a beta of 1.49. The business has a 50 day moving average of $34.67 and a 200 day moving average of $39.20.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.35. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The company had revenue of $8.27 billion during the quarter, compared to analyst estimates of $8.11 billion. During the same quarter last year, the company earned $0.43 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, research analysts expect that Schlumberger will post 1.5 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.30%. Schlumberger’s dividend payout ratio (DPR) is currently 123.46%.
In other news, EVP Patrick Schorn sold 12,151 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $38.93, for a total value of $473,038.43. Following the transaction, the executive vice president now directly owns 130,000 shares in the company, valued at approximately $5,060,900. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Stephanie Cox sold 24,057 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $40.59, for a total value of $976,473.63. Following the completion of the transaction, the insider now owns 46,354 shares in the company, valued at $1,881,508.86. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Lenox Wealth Management Inc. lifted its position in Schlumberger by 41.1% during the first quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 256 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Schlumberger by 1.0% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 25,410 shares of the oil and gas company’s stock valued at $1,010,000 after acquiring an additional 262 shares during the period. Pendal Group Ltd raised its holdings in Schlumberger by 1.5% during the second quarter. Pendal Group Ltd now owns 18,636 shares of the oil and gas company’s stock valued at $703,000 after acquiring an additional 269 shares during the period. Monarch Capital Management Inc. raised its holdings in Schlumberger by 1.3% during the first quarter. Monarch Capital Management Inc. now owns 21,414 shares of the oil and gas company’s stock valued at $933,000 after acquiring an additional 285 shares during the period. Finally, Cetera Advisor Networks LLC raised its holdings in Schlumberger by 2.7% during the first quarter. Cetera Advisor Networks LLC now owns 10,746 shares of the oil and gas company’s stock valued at $471,000 after acquiring an additional 286 shares during the period. Hedge funds and other institutional investors own 76.67% of the company’s stock.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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