Wells Fargo & Company Lowers Schlumberger (NYSE:SLB) Price Target to $46.00

Schlumberger (NYSE:SLB) had its target price trimmed by Wells Fargo & Company from $49.00 to $46.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the oil and gas company’s stock.

A number of other brokerages also recently commented on SLB. BMO Capital Markets reduced their price objective on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. Barclays decreased their price target on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. TD Cowen reduced their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research note on Thursday, October 3rd. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus target price of $58.85.

Schlumberger Trading Down 1.1 %

NYSE:SLB opened at $36.91 on Tuesday. Schlumberger has a 12-month low of $36.52 and a 12-month high of $55.69. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock’s 50 day simple moving average is $42.22 and its 200-day simple moving average is $43.80. The firm has a market cap of $52.12 billion, a P/E ratio of 11.87, a PEG ratio of 1.42 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 (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same period in the previous year, the company posted $0.78 EPS. Schlumberger’s revenue was up 10.2% compared to the same quarter last year. Equities analysts anticipate that Schlumberger will post 3.39 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.98%. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

A number of institutional investors have recently modified their holdings of the company. Raymond James & Associates raised its holdings in Schlumberger by 2.0% in the 2nd quarter. Raymond James & Associates now owns 889,375 shares of the oil and gas company’s stock valued at $41,961,000 after acquiring an additional 17,346 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Schlumberger by 6.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 332,410 shares of the oil and gas company’s stock valued at $15,683,000 after purchasing an additional 18,826 shares during the last quarter. Griffin Asset Management Inc. lifted its position in Schlumberger by 3.3% during the second quarter. Griffin Asset Management Inc. now owns 73,930 shares of the oil and gas company’s stock worth $3,488,000 after buying an additional 2,393 shares during the period. Oak Family Advisors LLC boosted its stake in Schlumberger by 61.3% in the 2nd quarter. Oak Family Advisors LLC now owns 113,922 shares of the oil and gas company’s stock worth $5,375,000 after buying an additional 43,287 shares during the last quarter. Finally, 1620 Investment Advisors Inc. boosted its stake in Schlumberger by 858.9% in the 2nd quarter. 1620 Investment Advisors Inc. now owns 9,963 shares of the oil and gas company’s stock worth $470,000 after buying an additional 8,924 shares during the last quarter. Institutional investors and hedge funds 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.