Schlumberger (NYSE:SLB) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Schlumberger (NYSE:SLBFree Report) from a hold rating to a buy rating in a research note published on Monday.

A number of other equities analysts have also weighed in on the company. The Goldman Sachs Group reissued a buy rating on shares of Schlumberger in a research note on Monday, April 1st. Morgan Stanley reissued an overweight rating and issued a $65.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. Stifel Nicolaus reaffirmed a buy rating and set a $64.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Bank of America decreased their target price on shares of Schlumberger from $63.00 to $62.00 and set a buy rating on the stock in a report on Monday, April 22nd. Finally, Susquehanna restated a positive rating and set a $77.00 price target on shares of Schlumberger in a report on Monday, April 22nd. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $68.72.

Check Out Our Latest Research Report on Schlumberger

Schlumberger Price Performance

Shares of NYSE SLB opened at $46.24 on Monday. The firm has a 50-day simple moving average of $50.77 and a 200-day simple moving average of $50.72. 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 has a market capitalization of $66.09 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 0.89 and a beta of 1.64. Schlumberger has a 52 week low of $42.73 and a 52 week high of $62.12.

Schlumberger (NYSE:SLBGet Free Report) last released its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates 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%. Schlumberger’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. On average, equities analysts predict that Schlumberger will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be given a $0.275 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 2.38%. The ex-dividend date is Wednesday, June 5th. Schlumberger’s payout ratio is currently 36.54%.

Insider Transactions at Schlumberger

In related news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total value of $3,044,964.70. Following the completion of the transaction, the chief technology officer now owns 33,421 shares in the company, valued at $1,612,897.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total value of $1,838,647.24. Following the sale, the insider now owns 45,851 shares of the company’s stock, valued at approximately $2,213,686.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the transaction, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Several hedge funds have recently added to or reduced their stakes in SLB. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Schlumberger in the 4th quarter valued at $26,000. Register Financial Advisors LLC acquired a new stake in Schlumberger in the first quarter valued at $27,000. Manchester Capital Management LLC lifted its holdings in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after buying an additional 426 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Schlumberger during the 4th quarter worth about $32,000. Finally, Janiczek Wealth Management LLC boosted its position in shares of Schlumberger by 1,180.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 602 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Schlumberger (NYSE:SLB)

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