Susquehanna Reiterates “Positive” Rating for Schlumberger (NYSE:SLB)

Susquehanna reiterated their positive rating on shares of Schlumberger (NYSE:SLB) in a report published on Monday, Benzinga reports. Susquehanna currently has a $77.00 target price on the oil and gas company’s stock.

Several other research firms have also commented on SLB. Bank of America reduced their price target on shares of Schlumberger from $63.00 to $62.00 and set a buy rating on the stock in a research report on Monday. Benchmark reiterated a buy rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday. HSBC reiterated a buy rating and issued a $71.00 target price on shares of Schlumberger in a report on Thursday, April 4th. Royal Bank of Canada lifted their target price on shares of Schlumberger from $66.00 to $69.00 and gave the company an outperform rating in a report on Wednesday, April 3rd. Finally, Wells Fargo & Company boosted their price target on shares of Schlumberger from $69.00 to $70.00 and gave the stock an overweight rating in a research note on Monday, January 22nd. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $69.67.

Schlumberger Trading Up 0.7 %

Shares of Schlumberger stock opened at $49.45 on Monday. The firm has a market capitalization of $70.58 billion, a PE ratio of 16.43, a P/E/G ratio of 0.95 and a beta of 1.60. Schlumberger has a twelve month low of $42.73 and a twelve month high of $62.12. The firm’s 50-day moving average price is $51.73 and its 200 day moving average price is $52.23. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same period last year, the company posted $0.63 EPS. The business’s revenue was up 12.6% on a year-over-year basis. On average, sell-side analysts predict that Schlumberger will post 3.5 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 2.22%. Schlumberger’s payout ratio is 36.54%.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Katharina Beumelburg sold 8,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.62, for a total value of $420,960.00. Following the completion of the sale, the insider now directly owns 15,581 shares of the company’s stock, valued at $819,872.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders sold a total of 90,545 shares of company stock valued at $4,458,430 over the last ninety days. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Institutional investors and hedge funds have recently made changes to their positions in the business. Highland Capital Management LLC raised its holdings in shares of Schlumberger by 2,494.0% in the fourth quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock valued at $5,278,000 after buying an additional 97,516 shares during the last quarter. Guinness Asset Management LTD increased its stake in shares of Schlumberger by 0.3% during the third quarter. Guinness Asset Management LTD now owns 331,309 shares of the oil and gas company’s stock worth $19,468,000 after acquiring an additional 965 shares during the period. Nordea Investment Management AB increased its stake in shares of Schlumberger by 36.4% during the fourth quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock worth $74,080,000 after acquiring an additional 380,185 shares during the period. Allworth Financial LP increased its stake in shares of Schlumberger by 3.8% during the third quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock worth $324,000 after acquiring an additional 206 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in shares of Schlumberger by 6.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock worth $31,726,000 after acquiring an additional 35,763 shares during the period. 81.99% of the stock is owned by hedge funds and other 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.