Evercore ISI Lowers Schlumberger (NYSE:SLB) Price Target to $62.00

Schlumberger (NYSE:SLB) had its price objective reduced by Evercore ISI from $74.00 to $62.00 in a report released on Monday morning, Benzinga reports. They currently have an outperform rating on the oil and gas company’s stock.

A number of other equities research analysts also recently issued reports on the stock. UBS Group reduced their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. BMO Capital Markets decreased their price objective on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Susquehanna cut their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday. Dbs Bank initiated coverage on Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target on the stock. Finally, Barclays dropped their price objective on Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Stock Down 2.1 %

Shares of SLB opened at $41.25 on Monday. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger has a 12 month low of $38.66 and a 12 month high of $57.75. The firm’s 50 day moving average is $43.00 and its 200-day moving average is $45.75. The stock has a market capitalization of $58.96 billion, a PE ratio of 13.70, a P/E/G ratio of 1.48 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 EPS. Equities research analysts forecast that Schlumberger will post 3.41 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.67%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Welch Group LLC raised its stake in Schlumberger by 9.8% during the third quarter. Welch Group LLC now owns 5,797 shares of the oil and gas company’s stock worth $243,000 after buying an additional 517 shares during the last quarter. Smithbridge Asset Management Inc. DE raised its position in shares of Schlumberger by 36.2% in the 3rd quarter. Smithbridge Asset Management Inc. DE now owns 27,859 shares of the oil and gas company’s stock worth $1,169,000 after acquiring an additional 7,412 shares in the last quarter. Custom Index Systems LLC lifted its stake in shares of Schlumberger by 18.9% in the 3rd quarter. Custom Index Systems LLC now owns 11,019 shares of the oil and gas company’s stock valued at $462,000 after purchasing an additional 1,750 shares during the period. Ellis Investment Partners LLC boosted its position in shares of Schlumberger by 36.3% during the 3rd quarter. Ellis Investment Partners LLC now owns 13,562 shares of the oil and gas company’s stock valued at $569,000 after purchasing an additional 3,615 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Schlumberger by 6.2% during the third quarter. State of Alaska Department of Revenue now owns 164,994 shares of the oil and gas company’s stock worth $6,921,000 after purchasing an additional 9,595 shares during the period. 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.