Susquehanna Trims Schlumberger (NYSE:SLB) Target Price to $56.00

Schlumberger (NYSE:SLB) had its target price reduced by Susquehanna from $60.00 to $56.00 in a report issued on Monday morning, Benzinga reports. Susquehanna currently has a positive rating on the oil and gas company’s stock.

Several other equities research analysts have also recently commented on the stock. Stifel Nicolaus cut their price target on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Bank of America reduced their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. UBS Group lowered their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a report on Thursday, October 3rd. Finally, Morgan Stanley lowered their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Stock Up 0.5 %

SLB stock opened at $42.13 on Monday. The business has a 50-day moving average of $43.00 and a 200-day moving average of $45.75. Schlumberger has a fifty-two week low of $38.66 and a fifty-two week high of $59.05. The stock has a market capitalization of $59.82 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.27 and a beta of 1.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned $0.78 EPS. On average, sell-side analysts anticipate that Schlumberger will post 3.44 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced 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 is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.61%. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLB. ORG Partners LLC boosted its position in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares during the period. Register Financial Advisors LLC acquired a new stake in Schlumberger in the 1st quarter worth about $27,000. Bruce G. Allen Investments LLC boosted its holdings in Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 392 shares during the period. Unique Wealth Strategies LLC acquired a new position in shares of Schlumberger during the 2nd quarter worth approximately $30,000. Finally, Manchester Capital Management LLC increased its holdings in shares of Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

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.