Schlumberger (NYSE:SLB) Earns Buy Rating from Analysts at Dbs Bank

Dbs Bank initiated coverage on shares of Schlumberger (NYSE:SLB) in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $64.50 price objective on the oil and gas company’s stock.

A number of other analysts have also recently weighed in on SLB. TD Cowen increased their target price on shares of Schlumberger from $62.00 to $64.00 and gave the stock a buy rating in a report on Monday, July 22nd. Royal Bank of Canada reiterated an outperform rating and set a $69.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Barclays decreased their target price on Schlumberger from $70.00 to $67.00 and set an overweight rating for the company in a research note on Tuesday, July 23rd. UBS Group dropped their price target on Schlumberger from $63.00 to $57.00 and set a buy rating on the stock in a research report on Wednesday. Finally, StockNews.com downgraded Schlumberger from a buy rating to a hold rating in a report on Thursday, June 6th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $66.29.

Schlumberger Stock Down 0.8 %

NYSE:SLB opened at $42.41 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The company has a market capitalization of $60.22 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 0.86 and a beta of 1.51. Schlumberger has a one year low of $38.66 and a one year high of $61.41. The stock has a 50-day simple moving average of $44.48 and a 200 day simple moving average of $47.40.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. Sell-side analysts predict that Schlumberger will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

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 paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.59%. Schlumberger’s dividend payout ratio is presently 36.54%.

Insider Buying and Selling

In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $10,141,615.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of the business’s 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 sale, the chief financial officer now owns 203,076 shares in the company, valued at $10,141,615.44. The disclosure for this sale can be found here. Insiders have sold a total of 180,716 shares of company stock valued at $9,048,624 over the last quarter. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Capital World Investors grew its holdings in shares of Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after acquiring an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after purchasing an additional 10,606,191 shares in the last quarter. Winslow Capital Management LLC raised its holdings in Schlumberger by 123,063.5% during the 4th quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock worth $226,253,000 after buying an additional 4,344,141 shares during the period. Boston Partners lifted its stake in Schlumberger by 35.8% during the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after buying an additional 3,069,395 shares in the last quarter. Finally, Ceredex Value Advisors LLC acquired a new position in shares of Schlumberger in the second quarter worth about $92,944,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

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.