Schlumberger (NYSE:SLB) Price Target Raised to $45.00 at UBS Group

Schlumberger (NYSE:SLB) had its price target upped by UBS Group from $44.00 to $45.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

Several other research analysts also recently commented on SLB. JPMorgan Chase & Co. cut their price target on shares of Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Monday. Morgan Stanley dropped their price objective on Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Wells Fargo & Company decreased their target price on Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a research note on Thursday, June 5th. Susquehanna dropped their price target on Schlumberger from $46.00 to $44.00 and set a “positive” rating for the company in a research report on Tuesday. Finally, Piper Sandler cut their price objective on Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.85.

Schlumberger Stock Up 1.8%

Shares of NYSE SLB opened at $35.85 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51. The company has a market cap of $48.76 billion, a P/E ratio of 12.15, a P/E/G ratio of 9.22 and a beta of 1.01. Schlumberger has a 52 week low of $31.11 and a 52 week high of $50.94. The business has a 50-day simple moving average of $34.50 and a two-hundred day simple moving average of $37.72.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results 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). The firm had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 earnings per share. Research analysts anticipate that Schlumberger will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.18%. 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 Schlumberger stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director owned 23,525 shares in the company, valued at approximately $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Schlumberger

Several institutional investors and hedge funds have recently bought and sold shares of SLB. First Command Advisory Services Inc. boosted its stake in shares of Schlumberger by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 477 shares during the period. Atlas Capital Advisors Inc. purchased a new stake in Schlumberger during the 1st quarter valued at $33,000. Alpine Bank Wealth Management purchased a new stake in Schlumberger during the 1st quarter valued at $34,000. True Wealth Design LLC grew its holdings in Schlumberger by 584.7% in the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 842 shares during the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of Schlumberger in the first quarter valued at about $38,000. 81.99% of the stock is currently owned by institutional investors.

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.