Schlumberger (NYSE:SLB) Stock Price Expected to Rise, UBS Group Analyst Says

Schlumberger (NYSE:SLB - Free Report) had its target price boosted by UBS Group from $44.00 to $45.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the oil and gas company's stock.

Several other brokerages also recently issued reports on SLB. Jefferies Financial Group cut their price objective on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Stifel Nicolaus cut their price target on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a report on Monday, April 28th. JPMorgan Chase & Co. decreased their price objective on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Monday. Barclays cut their target price on Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Finally, Susquehanna reduced their target price on Schlumberger from $46.00 to $44.00 and set a "positive" rating on the stock in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.85.

Schlumberger Stock Down 0.8%

NYSE SLB traded down $0.29 during trading hours on Wednesday, hitting $35.63. 7,240,714 shares of the company traded hands, compared to its average volume of 13,747,525. The stock has a market capitalization of $48.46 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 9.22 and a beta of 1.01. Schlumberger has a twelve month low of $31.11 and a twelve month high of $50.94. The business's 50-day moving average is $34.50 and its 200-day moving average is $37.72. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $8.64 billion. During the same period in the previous year, the business earned $0.75 earnings per share. The business's quarterly revenue was down 2.5% on a year-over-year basis. Sell-side analysts anticipate that Schlumberger will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Wednesday, June 4th. Schlumberger's dividend payout ratio is presently 38.64%.

Insider Transactions at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were 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. This represents a 17.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.26% of the company's stock.

Hedge Funds Weigh In On Schlumberger

A number of hedge funds have recently bought and sold shares of SLB. Charles Schwab Investment Management Inc. boosted 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 valued at $1,994,674,000 after purchasing an additional 39,474,501 shares in the last quarter. Norges Bank acquired a new position in Schlumberger in the fourth quarter valued at approximately $735,398,000. Price T Rowe Associates Inc. MD boosted its holdings 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 in the last quarter. 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 increased its stake in shares of Schlumberger by 211.1% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company's stock valued at $250,507,000 after acquiring an additional 4,066,500 shares in the last quarter. 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.