Schlumberger (NYSE:SLB) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Schlumberger (NYSE:SLBFree Report) in a report released on Thursday morning, Benzinga reports. Royal Bank of Canada currently has a $66.00 target price on the oil and gas company’s stock.

Several other research analysts also recently commented on SLB. Wells Fargo & Company lifted their price target on Schlumberger from $69.00 to $70.00 and gave the stock an overweight rating in a research report on Monday, January 22nd. Raymond James lifted their price target on Schlumberger from $68.00 to $72.00 and gave the stock an outperform rating in a research report on Monday, October 23rd. Susquehanna lifted their price target on Schlumberger from $72.00 to $77.00 and gave the stock a positive rating in a research report on Monday, January 22nd. Stifel Nicolaus lifted their price target on Schlumberger from $63.00 to $64.00 and gave the stock a buy rating in a research report on Monday, January 22nd. Finally, Barclays lowered their price objective on Schlumberger from $77.00 to $74.00 and set an overweight rating on the stock in a research report on Monday, January 22nd. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $70.67.

Check Out Our Latest Analysis on SLB

Schlumberger Stock Up 0.7 %

Shares of Schlumberger stock opened at $47.79 on Thursday. The firm has a market cap of $68.22 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 0.85 and a beta of 1.61. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.00. Schlumberger has a 52-week low of $42.73 and a 52-week high of $62.12. The stock has a 50-day simple moving average of $50.62 and a 200-day simple moving average of $55.05.

Schlumberger (NYSE:SLBGet Free Report) last announced its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. The business had revenue of $8.99 billion during the quarter, compared to analyst estimates of $8.96 billion. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 EPS. On average, equities research analysts expect that Schlumberger will post 3.54 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Wednesday, February 7th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Tuesday, February 6th. Schlumberger’s dividend payout ratio (DPR) is presently 34.25%.

Insider Activity

In other news, insider Gavin Rennick sold 6,675 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $52.88, for a total transaction of $352,974.00. Following the transaction, the insider now owns 39,958 shares of the company’s stock, valued at $2,112,979.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Gavin Rennick sold 6,675 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $52.88, for a total value of $352,974.00. Following the completion of the sale, the insider now owns 39,958 shares in the company, valued at $2,112,979.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Howard Guild sold 22,853 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $51.66, for a total value of $1,180,585.98. Following the completion of the sale, the chief accounting officer now owns 22,181 shares of the company’s stock, valued at approximately $1,145,870.46. The disclosure for this sale can be found here. Insiders have sold 135,116 shares of company stock valued at $6,923,671 over the last 90 days. 0.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Capital World Investors boosted its position in Schlumberger by 85.7% during the second quarter. Capital World Investors now owns 43,080,354 shares of the oil and gas company’s stock valued at $2,116,107,000 after purchasing an additional 19,885,771 shares during the last quarter. Norges Bank acquired a new position in Schlumberger during the fourth quarter valued at approximately $1,008,286,000. Price T Rowe Associates Inc. MD boosted its position in Schlumberger by 200.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,736,684 shares of the oil and gas company’s stock valued at $527,173,000 after purchasing an additional 7,158,943 shares during the last quarter. Royal Bank of Canada boosted its position in Schlumberger by 79.7% during the third 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 purchasing an additional 2,182,706 shares during the last quarter. Finally, Sanders Capital LLC lifted its position in shares of Schlumberger by 34.9% in the third quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock valued at $469,693,000 after buying an additional 2,085,506 shares during the last quarter. 79.43% of the stock is owned by institutional investors and hedge funds.

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, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.

Further Reading

Analyst Recommendations for Schlumberger (NYSE:SLB)

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