Morgan Stanley initiated coverage on shares of Schlumberger (NYSE:SLB) in a research report released on Tuesday, September 18th, Marketbeat.com reports. The firm issued an equal weight rating and a $72.00 price objective on the oil and gas company’s stock.
SLB has been the subject of a number of other reports. ValuEngine lowered shares of Schlumberger from a hold rating to a sell rating in a research note on Tuesday, September 4th. Credit Suisse Group lifted their price target on shares of Schlumberger from $80.00 to $82.00 and gave the stock a buy rating in a research note on Monday, July 23rd. Citigroup reduced their price target on shares of Schlumberger from $79.00 to $78.00 and set a buy rating for the company in a research note on Monday, June 25th. Jefferies Financial Group set a $80.00 price target on shares of Schlumberger and gave the stock a buy rating in a research note on Monday, July 23rd. Finally, Piper Jaffray Companies reiterated a buy rating and issued a $80.00 price target on shares of Schlumberger in a research note on Monday, July 23rd. Eight investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The stock has an average rating of Buy and an average target price of $78.90.
NYSE:SLB traded up $0.21 on Tuesday, reaching $59.33. 9,547,855 shares of the stock traded hands, compared to its average volume of 7,690,490. Schlumberger has a 12 month low of $58.30 and a 12 month high of $80.35. The firm has a market cap of $84.32 billion, a P/E ratio of 39.55, a P/E/G ratio of 5.68 and a beta of 0.93. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.85 and a current ratio of 1.12.
Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 20th. The oil and gas company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. Schlumberger had a negative net margin of 2.34% and a positive return on equity of 6.25%. The firm had revenue of $8.30 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same period in the previous year, the business posted $0.35 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, equities research analysts predict that Schlumberger will post 1.79 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Wednesday, September 5th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Tuesday, September 4th. Schlumberger’s payout ratio is 133.33%.
In other Schlumberger news, Director Michael E. Marks acquired 8,000 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The shares were bought at an average price of $60.31 per share, with a total value of $482,480.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.48% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Precocity Capital LP lifted its holdings in Schlumberger by 20.0% during the second quarter. Precocity Capital LP now owns 60,000 shares of the oil and gas company’s stock valued at $4,022,000 after purchasing an additional 10,000 shares in the last quarter. Private Advisor Group LLC lifted its holdings in Schlumberger by 214.6% during the second quarter. Private Advisor Group LLC now owns 28,977 shares of the oil and gas company’s stock valued at $1,903,000 after purchasing an additional 19,765 shares in the last quarter. Barings LLC lifted its holdings in Schlumberger by 365.6% during the second quarter. Barings LLC now owns 325,428 shares of the oil and gas company’s stock valued at $21,813,000 after purchasing an additional 255,539 shares in the last quarter. Bain Capital Public Equity Management LLC purchased a new position in Schlumberger during the second quarter valued at approximately $45,421,000. Finally, Intrust Bank NA lifted its holdings in Schlumberger by 10.2% during the second quarter. Intrust Bank NA now owns 18,356 shares of the oil and gas company’s stock valued at $1,231,000 after purchasing an additional 1,696 shares in the last quarter. 78.43% of the stock is currently owned by institutional investors.
Schlumberger Company Profile
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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