Schlumberger (NYSE:SLB) Price Target Cut to $65.00

Schlumberger (NYSE:SLB) had its price objective trimmed by TD Cowen from $68.00 to $65.00 in a report published on Monday morning, MarketBeat.com reports. The firm currently has a buy rating on the oil and gas company’s stock.

Other equities analysts have also issued research reports about the company. Susquehanna dropped their price objective on Schlumberger from $70.00 to $60.00 and set a “positive” rating on the stock in a report on Friday, October 11th. BMO Capital Markets dropped their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Morgan Stanley lowered their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Evercore ISI raised their price target on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.03.

Schlumberger Stock Up 1.2 %

NYSE:SLB opened at $42.43 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The stock’s fifty day moving average is $43.07 and its two-hundred day moving average is $45.87. Schlumberger has a 52 week low of $38.66 and a 52 week high of $59.05. The stock has a market capitalization of $60.24 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 1.27 and a beta of 1.51.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. Schlumberger’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 earnings per share. Research analysts anticipate that Schlumberger will post 3.44 EPS for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.59%. Schlumberger’s dividend payout ratio is presently 35.37%.

Hedge Funds Weigh In On Schlumberger

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Advocates Investment Management lifted its holdings in shares of Schlumberger by 3.4% during the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 218 shares in the last quarter. Chilton Capital Management LLC grew its position in shares of Schlumberger by 0.8% during the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after buying an additional 219 shares during the last quarter. Grove Bank & Trust grew its position in shares of Schlumberger by 17.4% during the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after buying an additional 224 shares during the last quarter. First PREMIER Bank grew its position in shares of Schlumberger by 8.7% during the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 227 shares during the last quarter. Finally, Team Hewins LLC grew its position in shares of Schlumberger by 3.0% during the 1st quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock valued at $436,000 after buying an additional 229 shares during the last quarter. Institutional investors and hedge funds 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.