Barclays Cuts Schlumberger (NYSE:SLB) Price Target to $53.00

Schlumberger (NYSE:SLB) had its target price cut by Barclays from $54.00 to $53.00 in a report published on Monday morning,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

SLB has been the topic of several other reports. TD Cowen upped their price target on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Wells Fargo & Company dropped their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Evercore ISI reiterated an “in-line” rating and issued a $44.00 price target (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Piper Sandler initiated coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.69.

Schlumberger Price Performance

SLB opened at $42.23 on Monday. The firm has a market capitalization of $57.43 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The business’s 50-day moving average is $41.23 and its two-hundred day moving average is $41.50. Schlumberger has a 1 year low of $36.52 and a 1 year high of $55.65.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.86 EPS. Research analysts anticipate that Schlumberger will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 2.70%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Insider Activity at Schlumberger

In related news, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the sale, the executive vice president now directly owns 184,626 shares in the company, valued at approximately $8,140,160.34. The trade was a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 315,905 shares of company stock worth $13,609,283. 0.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. YANKCOM Partnership purchased a new stake in Schlumberger in the 4th quarter worth $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger during the 4th quarter worth about $32,000. Golden State Wealth Management LLC acquired a new stake in Schlumberger in the 4th quarter worth about $34,000. True Wealth Design LLC raised its holdings in shares of Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 842 shares during the last quarter. Finally, Hager Investment Management Services LLC purchased a new position in shares of Schlumberger in the fourth quarter valued at approximately $38,000. 81.99% of the stock is owned by institutional investors and hedge funds.

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.