Schlumberger (NYSE:SLB) Shares Up 0.8% on Analyst Upgrade

Shares of Schlumberger Limited (NYSE:SLB) rose 0.8% during mid-day trading on Tuesday after TD Cowen raised their price target on the stock from $53.00 to $55.00. TD Cowen currently has a buy rating on the stock. Schlumberger traded as high as $44.66 and last traded at $43.95. Approximately 7,422,533 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 13,251,684 shares. The stock had previously closed at $43.58.

Several other analysts have also recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research note on Thursday, October 3rd. Bank of America decreased their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Stifel Nicolaus cut their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Finally, Wells Fargo & Company reduced their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $56.25.

Insider Transactions at Schlumberger

In other Schlumberger 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 value of $2,514,000.00. Following the completion of the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Large investors have recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. acquired a new stake in shares of Schlumberger during the 2nd quarter worth about $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Schlumberger by 20.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after acquiring an additional 1,916,851 shares during the period. Legal & General Group Plc raised its stake in shares of Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after buying an additional 1,560,684 shares in the last quarter. Merewether Investment Management LP purchased a new stake in shares of Schlumberger during the 2nd quarter worth approximately $42,957,000. Finally, Weiss Asset Management LP acquired a new stake in Schlumberger during the 3rd quarter valued at $37,322,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Up 0.9 %

The firm’s 50 day moving average is $40.84 and its 200-day moving average is $42.81. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The firm has a market cap of $62.10 billion, a PE ratio of 14.13, a P/E/G ratio of 3.61 and a beta of 1.52.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 EPS. As a group, equities research analysts expect that Schlumberger Limited will post 3.29 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.59%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio is 35.37%.

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.