Schlumberger (NYSE:SLB) Now Covered by Analysts at Dbs Bank

Dbs Bank started coverage on shares of Schlumberger (NYSE:SLB) in a report released on Wednesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $64.50 price target on the oil and gas company’s stock.

SLB has been the topic of a number of other research reports. StockNews.com lowered shares of Schlumberger from a buy rating to a hold rating in a report on Thursday, June 6th. Bank of America dropped their price objective on Schlumberger from $62.00 to $58.00 and set a buy rating for the company in a research note on Monday, July 15th. Royal Bank of Canada restated an outperform rating and issued a $69.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Benchmark reaffirmed a buy rating and issued a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Finally, Evercore ISI boosted their price objective on Schlumberger from $73.00 to $74.00 and gave the stock an outperform rating in a report on Monday, July 22nd. Two equities research 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 currently has an average rating of Moderate Buy and a consensus target price of $66.29.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $42.41 on Wednesday. The business’s fifty day simple moving average is $44.48 and its 200 day simple moving average is $47.38. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $60.22 billion, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 0.86 and a beta of 1.51. Schlumberger has a 12 month low of $38.66 and a 12 month high of $61.41.

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

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.59%. Schlumberger’s payout ratio is 36.54%.

Insider Activity

In other news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Schlumberger

A number of hedge funds have recently modified their holdings of SLB. Register Financial Advisors LLC purchased a new position in Schlumberger during the 1st quarter valued at about $27,000. Bruce G. Allen Investments LLC increased its stake in shares of Schlumberger by 204.2% during the second 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. Unique Wealth Strategies LLC bought a new position in shares of Schlumberger during the second quarter valued at approximately $30,000. Manchester Capital Management LLC lifted its stake in Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares during the period. Finally, Riverview Trust Co boosted its holdings in Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 308 shares in the last quarter. Hedge funds and other 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.