Schlumberger (NYSE:SLB) PT Lowered to $60.00 at Morgan Stanley

Schlumberger (NYSE:SLB) had its price target lowered by Morgan Stanley from $65.00 to $60.00 in a report issued on Monday, Benzinga reports. The firm currently has an overweight rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued reports about the company. TD Cowen lifted their price objective on Schlumberger from $62.00 to $64.00 and gave the stock a buy rating in a report on Monday, July 22nd. Evercore ISI lifted their price target on Schlumberger from $73.00 to $74.00 and gave the stock an outperform rating in a research note on Monday, July 22nd. Susquehanna reduced their price objective on Schlumberger from $77.00 to $70.00 and set a positive rating for the company in a research note on Thursday, July 11th. UBS Group decreased their price objective on Schlumberger from $67.00 to $63.00 and set a buy rating on the stock in a report on Tuesday, August 20th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $69.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Schlumberger has a consensus rating of Moderate Buy and an average price target of $66.29.

Schlumberger Trading Down 0.2 %

Shares of SLB stock opened at $41.44 on Monday. 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 company has a market cap of $59.22 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.85 and a beta of 1.52. The stock has a 50 day simple moving average of $44.63 and a 200-day simple moving average of $47.48. Schlumberger has a 1-year low of $38.66 and a 1-year high of $61.70.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities research analysts expect that Schlumberger will post 3.49 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a $0.275 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.65%. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Activity

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Stephane Biguet sold 50,048 shares of the firm’s 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 in the company, valued at $10,141,615.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. 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 in the last quarter. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

A number of hedge funds and other institutional investors have recently bought and sold shares of SLB. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger during the first quarter worth about $27,000. Manchester Capital Management LLC lifted its holdings in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after buying an additional 426 shares in the last quarter. Bruce G. Allen Investments LLC boosted its position in Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 392 shares during the period. Transcendent Capital Group LLC acquired a new position in shares of Schlumberger in the fourth quarter worth $32,000. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of Schlumberger during the second quarter worth $30,000. 81.99% of the stock is currently 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.