Schlumberger (NYSE:SLB) Given New $70.00 Price Target at Susquehanna

Schlumberger (NYSE:SLB) had its target price lowered by Susquehanna from $77.00 to $70.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a positive rating on the oil and gas company’s stock.

Several other equities analysts have also recently weighed in on SLB. Citigroup cut their target price on shares of Schlumberger from $65.00 to $62.00 and set a buy rating for the company in a research note on Friday, June 28th. Morgan Stanley reaffirmed an overweight rating and set a $65.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. HSBC reaffirmed a buy rating and set a $71.00 target price on shares of Schlumberger in a research note on Thursday, April 4th. Wells Fargo & Company cut shares of Schlumberger from an overweight rating to an equal weight rating and cut their target price for the company from $68.00 to $53.00 in a research note on Monday, April 29th. Finally, BMO Capital Markets cut their target price on shares of Schlumberger from $66.00 to $64.00 and set an outperform rating for the company in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger presently has an average rating of Moderate Buy and a consensus price target of $68.18.

Schlumberger Stock Performance

Shares of NYSE SLB opened at $46.18 on Thursday. The firm has a fifty day moving average price of $46.26 and a 200-day moving average price of $49.26. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The stock has a market cap of $66.01 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 0.87 and a beta of 1.55. Schlumberger has a 1 year low of $42.61 and a 1 year high of $62.12.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 earnings per share. Equities analysts anticipate that Schlumberger will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 11th. Investors of record on Wednesday, June 5th were issued a dividend of $0.275 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.38%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Activity at Schlumberger

In related news, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the sale, the insider now owns 22,518 shares in the company, valued at approximately $977,956.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Gavin Rennick sold 38,083 shares of Schlumberger stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the completion of the sale, the insider now owns 45,851 shares in the company, valued at approximately $2,213,686.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the sale, the insider now owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The disclosure for this sale can be found here. Insiders sold 106,158 shares of company stock worth $5,099,893 in the last 90 days. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Schlumberger

Large investors have recently modified their holdings of the business. Carolinas Wealth Consulting LLC raised its holdings in shares of Schlumberger by 53.5% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 683 shares in the last quarter. Highland Capital Management LLC raised its holdings in shares of Schlumberger by 2,494.0% in the 4th quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock valued at $5,278,000 after purchasing an additional 97,516 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Schlumberger by 36.4% in the 4th quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock valued at $74,080,000 after purchasing an additional 380,185 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Schlumberger by 6.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock valued at $31,726,000 after purchasing an additional 35,763 shares in the last quarter. Finally, Sapient Capital LLC purchased a new position in shares of Schlumberger in the 4th quarter worth approximately $1,389,000. Institutional investors 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.