Stifel Nicolaus Lowers Schlumberger (NYSE:SLB) Price Target to $52.00

Schlumberger (NYSE:SLB - Free Report) had its target price trimmed by Stifel Nicolaus from $54.00 to $52.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the oil and gas company's stock.

Several other equities research analysts have also recently weighed in on the company. Jefferies Financial Group reduced their price objective on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Susquehanna reduced their target price on Schlumberger from $46.00 to $44.00 and set a "positive" rating for the company in a research report on Tuesday, July 1st. Piper Sandler reduced their target price on Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. JPMorgan Chase & Co. reduced their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Finally, Morgan Stanley reduced their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $50.68.

Schlumberger Stock Performance

Schlumberger stock traded down $0.45 during trading hours on Wednesday, reaching $34.62. 19,845,761 shares of the company were exchanged, compared to its average volume of 13,961,415. Schlumberger has a 12 month low of $31.11 and a 12 month high of $50.94. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The firm has a market cap of $47.09 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 9.38 and a beta of 1.01. The stock has a 50-day moving average of $34.87 and a 200 day moving average of $37.59.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the prior year, the company posted $0.75 earnings per share. The firm's revenue was down 2.5% compared to the same quarter last year. As a group, research analysts anticipate that Schlumberger will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 4th were given a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.29%. Schlumberger's payout ratio is 38.64%.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the sale, the director directly owned 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Schlumberger

Several institutional investors have recently modified their holdings of SLB. Charles Schwab Investment Management Inc. grew its position in shares of Schlumberger by 478.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock worth $1,994,674,000 after buying an additional 39,474,501 shares during the period. Norges Bank acquired a new position in shares of Schlumberger during the 4th quarter worth about $735,398,000. Price T Rowe Associates Inc. MD grew its position in shares of Schlumberger by 7.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock worth $2,913,312,000 after buying an additional 5,225,828 shares during the period. Boston Partners grew its position in shares of Schlumberger by 27.7% during the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock worth $824,160,000 after buying an additional 4,300,222 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its position in shares of Schlumberger by 211.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company's stock worth $250,507,000 after buying an additional 4,066,500 shares during the period. 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.