Schlumberger (NYSE:SLB) Price Target Raised to $63.00 at Bank of America

Schlumberger (NYSE:SLB) had its price objective boosted by Bank of America from $62.00 to $63.00 in a report released on Monday, Benzinga reports. The firm currently has a buy rating on the oil and gas company’s stock.

SLB has been the subject of a number of other research reports. Royal Bank of Canada increased their target price on Schlumberger from $66.00 to $69.00 and gave the stock an outperform rating in a report on Wednesday, April 3rd. The Goldman Sachs Group reiterated a buy rating on shares of Schlumberger in a report on Monday, April 1st. Wells Fargo & Company increased their target price on Schlumberger from $69.00 to $70.00 and gave the stock an overweight rating in a report on Monday, January 22nd. Susquehanna reiterated a positive rating and set a $77.00 target price on shares of Schlumberger in a report on Monday, April 8th. Finally, Benchmark reiterated a buy rating and set a $68.00 target price on shares of Schlumberger in a report on Wednesday, April 3rd. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $70.31.

Schlumberger Price Performance

SLB opened at $51.67 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. Schlumberger has a 12 month low of $42.73 and a 12 month high of $62.12. The company has a fifty day simple moving average of $51.36 and a 200 day simple moving average of $52.56. The stock has a market cap of $73.75 billion, a P/E ratio of 17.70, a P/E/G ratio of 0.94 and a beta of 1.60.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, January 19th. The oil and gas company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The business had revenue of $8.99 billion during the quarter, compared to analysts’ expectations of $8.96 billion. During the same quarter in the prior year, the company earned $0.71 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. On average, research analysts expect that Schlumberger will post 3.52 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Wednesday, February 7th were paid a $0.25 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $1.00 annualized dividend and a yield of 1.94%. Schlumberger’s dividend payout ratio (DPR) is currently 34.25%.

Insider Activity at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 38,570 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total value of $1,944,699.40. Following the completion of the sale, the executive vice president now directly owns 386,841 shares in the company, valued at approximately $19,504,523.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Howard Guild sold 22,853 shares of the firm’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 directly owns 22,181 shares in the company, valued at approximately $1,145,870.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mogharbel Khaled Al sold 38,570 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $50.42, for a total transaction of $1,944,699.40. Following the sale, the executive vice president now owns 386,841 shares of the company’s stock, valued at $19,504,523.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,191 shares of company stock worth $8,636,322. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Landmark Financial Advisors LLC raised its position in Schlumberger by 3.6% during the third quarter. Landmark Financial Advisors LLC now owns 4,838 shares of the oil and gas company’s stock valued at $282,000 after purchasing an additional 170 shares in the last quarter. Investment Advisory Services Inc. TX ADV increased its holdings in shares of Schlumberger by 1.4% during the third quarter. Investment Advisory Services Inc. TX ADV now owns 11,968 shares of the oil and gas company’s stock worth $698,000 after buying an additional 171 shares in the last quarter. Miller Howard Investments Inc. NY increased its holdings in shares of Schlumberger by 0.5% during the third quarter. Miller Howard Investments Inc. NY now owns 32,845 shares of the oil and gas company’s stock worth $1,915,000 after buying an additional 176 shares in the last quarter. Stonegate Investment Group LLC increased its holdings in shares of Schlumberger by 1.7% during the third quarter. Stonegate Investment Group LLC now owns 10,864 shares of the oil and gas company’s stock worth $633,000 after buying an additional 177 shares in the last quarter. Finally, CI Investments Inc. grew its stake in shares of Schlumberger by 4.9% in the third quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock worth $241,000 after purchasing an additional 192 shares during the last quarter. 81.99% of the stock is currently 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.