Schlumberger (NYSE:SLB) Price Target Raised to $74.00

Schlumberger (NYSE:SLB) had its price target upped by Evercore ISI from $73.00 to $74.00 in a report issued on Monday, Benzinga reports. Evercore ISI currently has an outperform rating on the oil and gas company’s stock.

A number of other equities analysts have also issued reports on the company. HSBC reissued a buy rating and set a $71.00 price target on shares of Schlumberger in a report on Thursday, April 4th. Royal Bank of Canada reissued an outperform rating and set a $69.00 price target on shares of Schlumberger in a report on Monday. The Goldman Sachs Group reissued a buy rating on shares of Schlumberger in a report on Monday, April 1st. Benchmark reissued a buy rating and set a $68.00 price target on shares of Schlumberger in a report on Monday. Finally, Bank of America lowered their price target on Schlumberger from $62.00 to $58.00 and set a buy rating on the stock in a report on Monday, July 15th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $67.56.

Schlumberger Stock Down 2.1 %

Schlumberger stock opened at $48.03 on Monday. Schlumberger has a 1-year low of $42.61 and a 1-year high of $62.12. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The stock has a market cap of $68.65 billion, a PE ratio of 15.96, a P/E/G ratio of 1.06 and a beta of 1.55. The stock’s fifty day moving average is $46.32 and its two-hundred day moving average is $48.99.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts expect that Schlumberger will post 3.48 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.29%. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Buying and Selling

In related news, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the transaction, the chief financial officer now directly owns 203,076 shares in the company, valued at approximately $10,141,615.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the business’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 completion of 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 at this hyperlink. Also, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the transaction, the chief financial officer now owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The disclosure for this sale can be found here. Insiders sold 286,874 shares of company stock worth $14,148,517 in the last ninety days. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. LRI Investments LLC increased its holdings in shares of Schlumberger by 19.0% during the 2nd quarter. LRI Investments LLC now owns 1,745 shares of the oil and gas company’s stock worth $82,000 after buying an additional 279 shares during the last quarter. Lebenthal Global Advisors LLC increased its holdings in shares of Schlumberger by 181.9% during the 2nd quarter. Lebenthal Global Advisors LLC now owns 29,139 shares of the oil and gas company’s stock worth $1,375,000 after buying an additional 18,803 shares during the last quarter. Cornerstone Wealth Group LLC acquired a new stake in shares of Schlumberger during the 2nd quarter worth $2,759,000. My Legacy Advisors LLC acquired a new stake in shares of Schlumberger during the 2nd quarter worth $386,000. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger during the 2nd quarter worth $30,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Company Profile

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.