Schlumberger (SLB) Given a $58.00 Price Target at Royal Bank of Canada
Several other research analysts also recently issued reports on SLB. Citigroup reduced their price objective on Schlumberger from $77.00 to $72.00 and set a buy rating on the stock in a report on Monday, October 22nd. HSBC raised Schlumberger from a hold rating to a buy rating in a report on Sunday, December 2nd. JPMorgan Chase & Co. downgraded Schlumberger from an overweight rating to a neutral rating and reduced their price objective for the stock from $73.00 to $48.00 in a report on Tuesday, December 11th. Credit Suisse Group reduced their price objective on Schlumberger from $82.00 to $71.00 and set an outperform rating on the stock in a report on Monday, October 22nd. Finally, Bank of America started coverage on Schlumberger in a report on Wednesday, October 17th. They set a buy rating on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $68.68.
Shares of SLB stock traded up $3.36 during trading hours on Friday, hitting $44.73. The company had a trading volume of 26,638,570 shares, compared to its average volume of 14,444,795. The firm has a market cap of $61.94 billion, a P/E ratio of 27.61, a P/E/G ratio of 3.79 and a beta of 1.16. The company has a current ratio of 1.17, a quick ratio of 0.85 and a debt-to-equity ratio of 0.40. Schlumberger has a 12 month low of $34.99 and a 12 month high of $80.35.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Wednesday, February 13th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Tuesday, February 12th. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.
In other Schlumberger news, EVP Patrick Schorn acquired 10,000 shares of Schlumberger stock in a transaction dated Thursday, December 20th. The stock was bought at an average cost of $37.55 per share, for a total transaction of $375,500.00. Following the purchase, the executive vice president now directly owns 35,000 shares in the company, valued at approximately $1,314,250. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Simon Ayat sold 60,000 shares of the stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $56.60, for a total transaction of $3,396,000.00. Following the transaction, the chief financial officer now owns 234,008 shares of the company’s stock, valued at $13,244,852.80. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of SLB. Thompson Rubinstein Investment Management Inc. OR lifted its position in Schlumberger by 1.1% during the fourth quarter. Thompson Rubinstein Investment Management Inc. OR now owns 95,705 shares of the oil and gas company’s stock worth $3,453,000 after acquiring an additional 1,067 shares during the last quarter. First Command Bank lifted its position in Schlumberger by 337.7% during the fourth quarter. First Command Bank now owns 1,497 shares of the oil and gas company’s stock worth $54,000 after acquiring an additional 1,155 shares during the last quarter. Advisors Capital Management LLC acquired a new stake in Schlumberger during the fourth quarter worth approximately $1,225,000. Oakbrook Investments LLC lifted its position in Schlumberger by 38.1% during the fourth quarter. Oakbrook Investments LLC now owns 479,764 shares of the oil and gas company’s stock worth $17,310,000 after acquiring an additional 132,290 shares during the last quarter. Finally, Lourd Capital LLC acquired a new stake in Schlumberger during the fourth quarter worth approximately $422,000. Institutional investors own 77.54% of the company’s stock.
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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