Schlumberger (NYSE:SLB) Price Target Lowered to $65.00 at TD Cowen

Schlumberger (NYSE:SLB) had its price objective cut by TD Cowen from $68.00 to $65.00 in a research report report published on Monday, MarketBeat reports. They currently have a buy rating on the oil and gas company’s stock.

A number of other research analysts have also commented on the company. Bank of America decreased their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Wells Fargo & Company decreased their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Piper Sandler decreased their price objective on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Citigroup decreased their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, JPMorgan Chase & Co. decreased their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Stock Down 2.1 %

SLB stock opened at $41.25 on Monday. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $58.96 billion, a PE ratio of 13.70, a PEG ratio of 1.48 and a beta of 1.51. Schlumberger has a 1-year low of $38.66 and a 1-year high of $57.75. The business’s 50 day simple moving average is $43.00 and its 200 day simple moving average is $45.75.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 EPS. As a group, research analysts anticipate that Schlumberger will post 3.41 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.67%. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by corporate insiders.

Institutional Trading of Schlumberger

Several institutional investors and hedge funds have recently modified their holdings of SLB. Capital World Investors raised its position in Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after purchasing an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after purchasing an additional 10,606,191 shares during the last quarter. Boston Partners raised its position in Schlumberger by 35.8% in the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after purchasing an additional 3,069,395 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in Schlumberger in the second quarter valued at about $92,944,000. Finally, 1832 Asset Management L.P. bought a new position in Schlumberger in the second quarter valued at about $91,364,000. 81.99% of the stock is currently owned by 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.