Schlumberger (NYSE:SLB) Receives “Overweight” Rating from Morgan Stanley

Morgan Stanley reaffirmed their overweight rating on shares of Schlumberger (NYSE:SLB) in a research note published on Monday, Benzinga reports. The firm currently has a $65.00 price target on the oil and gas company’s stock.

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets lowered their price target on shares of Schlumberger from $66.00 to $64.00 and set an outperform rating on the stock in a research note on Monday. Benchmark reaffirmed a buy rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday. TD Cowen decreased their price target on Schlumberger from $64.00 to $63.00 and set a buy rating on the stock in a research note on Monday. Barclays dropped their price objective on Schlumberger from $74.00 to $70.00 and set an overweight rating for the company in a research note on Thursday, April 4th. Finally, Wells Fargo & Company upped their target price on Schlumberger from $69.00 to $70.00 and gave the company an overweight rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $69.67.

Schlumberger Trading Down 0.7 %

Shares of Schlumberger stock opened at $49.52 on Monday. 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 firm has a market cap of $70.68 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. Schlumberger has a 52-week low of $42.73 and a 52-week high of $62.12. The company’s 50-day simple moving average is $51.64 and its 200-day simple moving average is $52.32.

Schlumberger (NYSE:SLB) last posted 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. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. During the same period last year, the firm earned $0.63 EPS. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Schlumberger will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

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

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the transaction, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Gavin Rennick sold 20,045 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $48.77, for a total value of $977,594.65. Following the transaction, the insider now directly owns 77,563 shares in the company, valued at approximately $3,782,747.51. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,621 shares of company stock valued at $6,691,623. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Several institutional investors have recently bought and sold shares of SLB. BluePath Capital Management LLC acquired a new position in shares of Schlumberger during the 3rd quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Schlumberger during the fourth quarter worth about $26,000. Register Financial Advisors LLC purchased a new stake in shares of Schlumberger in the first quarter worth about $27,000. MCF Advisors LLC grew its stake in shares of Schlumberger by 1,355.9% in 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. Finally, Transcendent Capital Group LLC acquired a new position in Schlumberger during the 4th quarter worth approximately $32,000. 81.99% of the stock is currently owned by hedge funds and other 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.