Schlumberger (NYSE:SLB) Given New $64.00 Price Target at BMO Capital Markets

Schlumberger (NYSE:SLB) had its price target decreased by BMO Capital Markets from $66.00 to $64.00 in a research note published on Monday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the oil and gas company’s stock.

Other research analysts also recently issued reports about the company. Barclays lowered their target price on Schlumberger from $74.00 to $70.00 and set an overweight rating on the stock in a research note on Thursday, April 4th. Bank of America lowered their price target on Schlumberger from $63.00 to $62.00 and set a buy rating on the stock in a report on Monday. TD Cowen dropped their price objective on shares of Schlumberger from $64.00 to $63.00 and set a buy rating for the company in a research note on Monday. HSBC reissued a buy rating and issued a $71.00 price objective on shares of Schlumberger in a research report on Thursday, April 4th. Finally, Benchmark restated a buy rating and issued a $68.00 target price on shares of Schlumberger in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger presently has an average rating of Moderate Buy and a consensus price target of $69.67.

Schlumberger Stock Down 0.7 %

Schlumberger stock opened at $49.52 on Monday. The company has a market capitalization of $70.68 billion, a P/E ratio of 16.45, a PEG ratio of 0.95 and a beta of 1.60. Schlumberger has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The stock has a 50-day simple moving average of $51.64 and a 200-day simple moving average of $52.32. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. The firm 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 revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. Equities research analysts expect that Schlumberger will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.22%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Insiders Place Their Bets

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the sale, the chief financial officer now directly owns 249,182 shares in the company, valued at approximately $13,151,825.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Katharina Beumelburg sold 8,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $52.62, for a total value of $420,960.00. Following the sale, the insider now owns 15,581 shares of the company’s stock, valued at approximately $819,872.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.78, for a total value of $329,875.00. Following the transaction, the chief financial officer now directly owns 249,182 shares in the company, valued at $13,151,825.96. The disclosure for this sale can be found here. Insiders have sold a total of 133,621 shares of company stock valued at $6,691,623 in the last quarter. Insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Hedge funds and other institutional investors have recently made changes to their positions in the business. BluePath Capital Management LLC acquired a new position in Schlumberger in the third quarter worth approximately $25,000. MCF Advisors LLC lifted its stake in Schlumberger by 1,355.9% during the third quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 461 shares in the last quarter. Register Financial Advisors LLC acquired a new position in shares of Schlumberger in the first quarter worth about $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Schlumberger in the fourth quarter worth approximately $26,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Schlumberger during the fourth quarter valued at approximately $32,000. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Company Profile

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.