Schlumberger (NYSE:SLB) Earns Positive Rating from Susquehanna

Susquehanna reiterated their positive rating on shares of Schlumberger (NYSE:SLB) in a research note published on Monday morning, Benzinga reports. The firm currently has a $77.00 target price on the oil and gas company’s stock.

Several other analysts have also issued reports on the company. Royal Bank of Canada upped their price objective on Schlumberger from $66.00 to $69.00 and gave the company an outperform rating in a research note on Wednesday, April 3rd. BMO Capital Markets decreased their target price on Schlumberger from $66.00 to $64.00 and set an outperform rating on the stock in a research report on Monday. Wells Fargo & Company upped their target price on Schlumberger from $69.00 to $70.00 and gave the company an overweight rating in a research report on Monday, January 22nd. TD Cowen decreased their target price on Schlumberger from $64.00 to $63.00 and set a buy rating on the stock in a research report on Monday. Finally, Bank of America decreased their target price on Schlumberger from $63.00 to $62.00 and set a buy rating on the stock in a research report on Monday. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Schlumberger currently has a consensus rating of Moderate Buy and an average price target of $69.67.

Schlumberger Price Performance

NYSE:SLB opened at $49.11 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average price is $51.71 and its two-hundred day moving average price is $52.25. The firm has a market capitalization of $70.10 billion, a price-to-earnings ratio of 16.32, a P/E/G ratio of 0.95 and a beta of 1.60. Schlumberger has a 12-month low of $42.73 and a 12-month high of $62.12.

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

Schlumberger Increases Dividend

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

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the sale, the chief financial officer now owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The disclosure for this sale can be found here. Insiders have sold 90,545 shares of company stock valued at $4,458,430 over the last 90 days. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Schlumberger

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLB. BluePath Capital Management LLC bought a new position in shares of Schlumberger in the 3rd quarter valued at $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Schlumberger in the 4th quarter valued at $26,000. Register Financial Advisors LLC bought a new position in shares of Schlumberger in the 1st quarter valued at $27,000. MCF Advisors LLC lifted its stake in shares of Schlumberger by 1,355.9% in the 3rd quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 461 shares during the last quarter. Finally, Transcendent Capital Group LLC bought a new position in shares of Schlumberger in the 4th quarter valued at $32,000. 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.