Morgan Stanley Reaffirms Overweight Rating for Schlumberger (NYSE:SLB)

Morgan Stanley restated their overweight rating on shares of Schlumberger (NYSE:SLB) in a research note released on Monday morning, Benzinga reports. The firm currently has a $65.00 price target on the oil and gas company’s stock.

Other research analysts also recently issued reports about the stock. HSBC reiterated a buy rating and set a $71.00 price target on shares of Schlumberger in a report on Thursday, April 4th. Wells Fargo & Company increased their price objective on Schlumberger from $69.00 to $70.00 and gave the company an overweight rating in a report on Monday, January 22nd. Benchmark restated a buy rating and issued a $68.00 price objective on shares of Schlumberger in a report on Monday. The Goldman Sachs Group restated a buy rating on shares of Schlumberger in a report on Monday, April 1st. Finally, Susquehanna restated a positive rating and issued a $77.00 price objective on shares of Schlumberger in a report on Monday. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $69.67.

Schlumberger Stock Down 0.9 %

Shares of NYSE:SLB opened at $49.11 on Monday. The company has a fifty day moving average of $51.71 and a 200-day moving average of $52.25. The company has a market capitalization of $70.10 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. Schlumberger has a 52-week low of $42.73 and a 52-week high of $62.12.

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

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Wednesday, June 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is 36.54%.

Insider Transactions at Schlumberger

In other news, insider Katharina Beumelburg sold 8,000 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.62, for a total transaction of $420,960.00. Following the transaction, the insider now owns 15,581 shares of the company’s stock, valued at approximately $819,872.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the transaction, the chief financial officer now owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Katharina Beumelburg sold 8,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.62, for a total transaction of $420,960.00. Following the completion of the transaction, the insider now directly owns 15,581 shares in the company, valued at approximately $819,872.22. The disclosure for this sale can be found here. Insiders have sold 90,545 shares of company stock valued at $4,458,430 in the last 90 days. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Schlumberger

Several large investors have recently added to or reduced their stakes in SLB. Norges Bank bought a new position in Schlumberger in the 4th quarter valued at about $1,000,292,000. Price T Rowe Associates Inc. MD lifted its position in Schlumberger by 12.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock valued at $3,922,768,000 after acquiring an additional 8,617,971 shares in the last quarter. Winslow Capital Management LLC lifted its position in Schlumberger by 123,063.5% in the 4th quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock valued at $226,253,000 after acquiring an additional 4,344,141 shares in the last quarter. Royal Bank of Canada lifted its position in Schlumberger by 79.7% in the 3rd quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock valued at $286,835,000 after acquiring an additional 2,182,706 shares in the last quarter. Finally, Sanders Capital LLC lifted its position in Schlumberger by 34.9% in the 3rd quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock valued at $469,693,000 after acquiring an additional 2,085,506 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

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.