Schlumberger (NYSE:SLB) Stock Price Down 0.8% on Analyst Downgrade

Shares of Schlumberger Limited (NYSE:SLB) dropped 0.8% during trading on Monday after Stifel Nicolaus lowered their price target on the stock from $65.00 to $62.00. Stifel Nicolaus currently has a buy rating on the stock. Schlumberger traded as low as $44.26 and last traded at $44.42. Approximately 1,561,597 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 11,009,891 shares. The stock had previously closed at $44.78.

Several other research firms have also issued reports on SLB. BMO Capital Markets lowered their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. decreased their target price on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Bank of America cut their price target on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a report on Monday, July 15th. Wells Fargo & Company dropped their target price on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Finally, TD Cowen upped their price target on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $63.42.

Insiders Place Their Bets

In other news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the transaction, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock valued at $9,048,624 over the last ninety days. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

A number of hedge funds have recently made changes to their positions in SLB. ORG Partners LLC increased its stake in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the period. Register Financial Advisors LLC acquired a new stake in Schlumberger during the 1st quarter worth approximately $27,000. Bruce G. Allen Investments LLC boosted its position in Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 392 shares during the period. Unique Wealth Strategies LLC acquired a new position in shares of Schlumberger in the second quarter worth $30,000. Finally, Manchester Capital Management LLC increased its position in shares of Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

The firm has a market capitalization of $63.07 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 0.96 and a beta of 1.51. The firm has a 50 day moving average price of $43.10 and a 200-day moving average price of $46.36. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter last year, the business posted $0.72 EPS. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, sell-side analysts expect that Schlumberger Limited will post 3.47 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th were issued a $0.275 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.48%. Schlumberger’s payout ratio is 35.95%.

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.