Schlumberger (NYSE:SLB) Stock Price Up 0.8% on Analyst Upgrade

Schlumberger Limited (NYSE:SLB - Get Free Report)'s share price traded up 0.8% during trading on Monday after Bank of America raised their price target on the stock from $62.00 to $63.00. Bank of America currently has a buy rating on the stock. Schlumberger traded as high as $52.91 and last traded at $52.42. 2,466,570 shares changed hands during trading, a decline of 78% from the average session volume of 11,204,281 shares. The stock had previously closed at $52.00.

A number of other equities analysts also recently issued reports on the company. Susquehanna reiterated a "positive" rating and issued a $77.00 price objective on shares of Schlumberger in a report on Monday, April 8th. Stifel Nicolaus increased their price objective on Schlumberger from $63.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, January 22nd. Benchmark reiterated a "buy" rating and issued a $68.00 price objective on shares of Schlumberger in a report on Wednesday, April 3rd. Wells Fargo & Company raised their price target on Schlumberger from $69.00 to $70.00 and gave the company an "overweight" rating in a report on Monday, January 22nd. Finally, HSBC restated a "buy" rating and set a $71.00 price target on shares of Schlumberger in a report on Thursday, April 4th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.31.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction 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 sale, the executive vice president now directly 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 Securities & Exchange Commission, which is available at this link. In other Schlumberger news, EVP Mogharbel Khaled Al sold 38,570 shares of the firm's stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $50.42, for a total value of $1,944,699.40. Following the transaction, the executive vice president now directly owns 386,841 shares of the company's stock, valued at $19,504,523.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Abdellah Merad sold 50,000 shares of the firm'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 completion of the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders have sold 172,191 shares of company stock valued at $8,636,322 over the last ninety days. Insiders own 0.26% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SLB. BluePath Capital Management LLC purchased a new position in Schlumberger in the third quarter worth about $25,000. Acadian Asset Management LLC purchased a new position in shares of Schlumberger during the 1st quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Schlumberger during the 4th quarter valued at about $26,000. Coppell Advisory Solutions LLC purchased a new position in shares of Schlumberger during the 2nd quarter valued at about $27,000. Finally, MCF Advisors LLC lifted its position in shares of Schlumberger by 1,355.9% during the 3rd 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. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Trading Down 0.6 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.32. The stock has a market capitalization of $73.75 billion, a PE ratio of 17.65, a PEG ratio of 0.94 and a beta of 1.60. The stock has a 50-day moving average price of $51.30 and a two-hundred day moving average price of $52.62.

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

Schlumberger Announces Dividend

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

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.