Schlumberger (NYSE:SLB) Lowered to Hold Rating by Atb Cap Markets

Atb Cap Markets lowered shares of Schlumberger (NYSE:SLB) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

Other equities analysts have also issued reports about the company. Stifel Nicolaus reiterated a “buy” rating and issued a $60.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. TD Cowen cut their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Dbs Bank started coverage on Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price on the stock. JPMorgan Chase & Co. cut their target price on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Finally, Evercore ISI cut their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus target price of $60.91.

Schlumberger Price Performance

Schlumberger stock opened at $41.10 on Tuesday. The firm has a market capitalization of $58.04 billion, a P/E ratio of 13.22, a PEG ratio of 1.45 and a beta of 1.51. Schlumberger has a 1 year low of $38.66 and a 1 year high of $55.69. The business has a 50-day moving average of $42.91 and a 200-day moving average of $44.07. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same period in the previous year, the firm earned $0.78 EPS. Schlumberger’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts anticipate that Schlumberger will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on 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 sale, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On Schlumberger

Large investors have recently added to or reduced their stakes in the business. Ceredex Value Advisors LLC acquired a new stake in shares of Schlumberger during the second quarter worth $92,944,000. 1832 Asset Management L.P. acquired a new stake in shares of Schlumberger during the second quarter worth $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Schlumberger by 20.6% during the third 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 buying an additional 1,916,851 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Schlumberger by 14.0% during the second 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. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Schlumberger by 14.9% during the second quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock worth $333,445,000 after buying an additional 915,705 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

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.