Schlumberger (NYSE:SLB) Given New $44.00 Price Target at JPMorgan Chase & Co.

Schlumberger (NYSE:SLB - Free Report) had its price target lowered by JPMorgan Chase & Co. from $46.00 to $44.00 in a research note issued to investors on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the oil and gas company's stock.

A number of other equities research analysts have also issued reports on the stock. Barclays cut their price target on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Jefferies Financial Group cut their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Susquehanna lowered their price target on Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research report on Monday, April 28th. Piper Sandler dropped their price objective on Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Finally, Wells Fargo & Company reduced their target price on Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research note on Thursday, June 5th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Schlumberger currently has an average rating of "Moderate Buy" and an average target price of $50.85.

Schlumberger Trading Up 1.8%

NYSE SLB traded up $0.65 during trading on Monday, hitting $35.85. 16,113,607 shares of the company's stock traded hands, compared to its average volume of 13,750,214. The stock has a fifty day moving average of $34.46 and a two-hundred day moving average of $37.73. Schlumberger has a 12-month low of $31.11 and a 12-month high of $50.94. The firm has a market cap of $48.76 billion, a P/E ratio of 12.15, a PEG ratio of 8.85 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The company had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. During the same quarter in the prior year, the company earned $0.75 earnings per share. The company's revenue was down 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that Schlumberger will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.18%. Schlumberger's payout ratio is currently 38.64%.

Insider Transactions at Schlumberger

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director directly owned 23,525 shares of the company's stock, valued at approximately $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.26% of the company's stock.

Hedge Funds Weigh In On Schlumberger

Several large investors have recently modified their holdings of the stock. First Command Advisory Services Inc. increased its stake in Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 477 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in shares of Schlumberger during the first quarter valued at approximately $33,000. Alpine Bank Wealth Management purchased a new position in Schlumberger in the 1st quarter worth approximately $34,000. True Wealth Design LLC raised its holdings in Schlumberger by 584.7% in the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock worth $38,000 after acquiring an additional 842 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new position in Schlumberger in the 1st quarter valued at approximately $38,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

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.