Brokerages Set Schlumberger Limited (NYSE:SLB) Target Price at $67.00

Schlumberger Limited (NYSE:SLB) has earned an average rating of “Moderate Buy” from the nineteen analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $66.29.

Several research firms have weighed in on SLB. UBS Group lowered their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Evercore ISI lifted their price target on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Finally, Benchmark reissued a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd.

Schlumberger Trading Down 0.8 %

Shares of NYSE SLB opened at $42.41 on Monday. The business has a fifty day simple moving average of $44.48 and a 200-day simple moving average of $47.36. The company has a market cap of $60.62 billion, a price-to-earnings ratio of 14.09, a P/E/G 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. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping the consensus estimate 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 last year, the company posted $0.72 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. Sell-side analysts predict that Schlumberger will post 3.49 EPS for the current year.

Schlumberger Announces Dividend

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 dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s payout ratio is 36.54%.

Insiders Place Their Bets

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’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 owns 247,699 shares in the company, valued at approximately $12,432,012.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were 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 directly owns 203,076 shares in the company, valued at $10,141,615.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the transaction, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock valued at $9,048,624 over the last quarter. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

A number of hedge funds have recently bought and sold shares of SLB. Gryphon Financial Partners LLC boosted its stake in Schlumberger by 46.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 6,538 shares of the oil and gas company’s stock valued at $340,000 after purchasing an additional 2,068 shares during the period. Financial Advocates Investment Management boosted its position in shares of Schlumberger by 25.5% in the fourth quarter. Financial Advocates Investment Management now owns 6,190 shares of the oil and gas company’s stock valued at $322,000 after acquiring an additional 1,259 shares during the period. Independent Advisor Alliance boosted its position in shares of Schlumberger by 28.9% in the fourth quarter. Independent Advisor Alliance now owns 10,351 shares of the oil and gas company’s stock valued at $539,000 after acquiring an additional 2,323 shares during the period. AMG National Trust Bank boosted its position in shares of Schlumberger by 54.3% in the fourth quarter. AMG National Trust Bank now owns 7,806 shares of the oil and gas company’s stock valued at $406,000 after acquiring an additional 2,748 shares during the period. Finally, Norges Bank acquired a new position in Schlumberger during the 4th quarter valued at $1,000,292,000. 81.99% of the stock is currently owned by institutional investors.

About Schlumberger

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.