Schlumberger (NYSE:SLB) Price Target Lowered to $53.00 at TD Cowen

Schlumberger (NYSE:SLB) had its price target cut by TD Cowen from $65.00 to $53.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

Several other research firms have also recently commented on SLB. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Morgan Stanley reduced their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Stifel Nicolaus dropped their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Finally, UBS Group reduced their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.58.

Schlumberger Stock Down 1.5 %

NYSE:SLB opened at $38.77 on Wednesday. The business’s fifty day moving average price is $41.02 and its 200 day moving average price is $43.19. The firm has a market capitalization of $54.75 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 1.42 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger has a 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. On average, sell-side analysts forecast that Schlumberger will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.84%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ORG Partners LLC grew its holdings in shares of Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Schlumberger in the third quarter worth $29,000. Ashton Thomas Securities LLC acquired a new stake in Schlumberger during the third quarter worth $37,000. DiNuzzo Private Wealth Inc. increased its holdings in Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 876 shares during the period. Finally, J. Stern & Co. LLP acquired a new position in shares of Schlumberger in the 3rd quarter valued at $47,000. 81.99% of the stock is currently owned by institutional investors.

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.