Schlumberger (NYSE:SLB) Price Target Raised to $63.00

Schlumberger (NYSE:SLB - Free Report) had its price objective increased by Bank of America from $62.00 to $63.00 in a report issued 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 several other research reports. Barclays lowered their target price on Schlumberger from $74.00 to $70.00 and set an overweight rating for the company in a research note on Thursday, April 4th. Royal Bank of Canada upped their price objective on shares of Schlumberger from $66.00 to $69.00 and gave the stock an outperform rating in a research report on Wednesday, April 3rd. Benchmark restated a buy rating and issued a $68.00 target price on shares of Schlumberger in a research report on Wednesday, April 3rd. The Goldman Sachs Group reiterated a buy rating on shares of Schlumberger in a research note on Monday, April 1st. Finally, Wells Fargo & Company raised their price objective on Schlumberger from $69.00 to $70.00 and gave the company an overweight rating in a report on Monday, January 22nd. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $70.31.

Schlumberger Stock Performance

SLB traded down $0.33 during trading on Monday, hitting $51.67. The stock had a trading volume of 9,471,446 shares, compared to its average volume of 11,307,502. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.00. The firm has a market cap of $73.75 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 0.94 and a beta of 1.60. The company has a 50 day moving average price of $51.30 and a 200-day moving average price of $52.62. Schlumberger has a one year low of $42.73 and a one year high of $62.12.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.02. The company had revenue of $8.99 billion during the quarter, compared to the consensus estimate of $8.96 billion. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The firm's quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 EPS. As a group, research analysts predict that Schlumberger will post 3.52 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Wednesday, February 7th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Tuesday, February 6th. Schlumberger's payout ratio is 34.25%.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 50,000 shares of the business's stock in a transaction that occurred on Monday, February 26th. The shares were 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 $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 Schlumberger stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $48.77, for a total transaction of $977,594.65. Following the completion of the sale, the insider now owns 77,563 shares in the company, valued at approximately $3,782,747.51. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of the company's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders sold a total of 172,191 shares of company stock worth $8,636,322 in the last quarter. Insiders own 0.26% of the company's stock.

Hedge Funds Weigh In On Schlumberger

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Schlumberger by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company's stock worth $6,883,928,000 after buying an additional 1,753,108 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Schlumberger by 12.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company's stock worth $3,922,768,000 after acquiring an additional 8,617,971 shares during the last quarter. Capital World Investors boosted its stake in shares of Schlumberger by 2.2% in the 4th quarter. Capital World Investors now owns 51,617,471 shares of the oil and gas company's stock valued at $2,686,173,000 after purchasing an additional 1,133,686 shares in the last quarter. FMR LLC grew its holdings in shares of Schlumberger by 1.1% during the 3rd quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company's stock valued at $1,584,099,000 after purchasing an additional 282,709 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Schlumberger by 1.6% in the 1st quarter. Geode Capital Management LLC now owns 25,347,967 shares of the oil and gas company's stock worth $1,241,319,000 after purchasing an additional 401,606 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

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.