Schlumberger (NYSE:SLB) Given New $48.00 Price Target at JPMorgan Chase & Co.

Schlumberger (NYSE:SLB) had its target price trimmed by JPMorgan Chase & Co. from $55.00 to $48.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

SLB has been the topic of a number of other research reports. Stifel Nicolaus dropped their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Dbs Bank initiated coverage on shares of Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective on the stock. Susquehanna decreased their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Piper Sandler began coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Finally, Citigroup cut their price target on Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.09.

Schlumberger Stock Performance

NYSE:SLB opened at $38.40 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The firm has a market cap of $54.23 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 1.42 and a beta of 1.51. The firm’s fifty day moving average price is $41.19 and its 200 day moving average price is $43.37. Schlumberger has a 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 earnings per share. On average, sell-side analysts expect 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. Shareholders of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.86%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Several institutional investors have recently made changes to their positions in the stock. ORG Partners LLC lifted its position in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Schlumberger in the third quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Schlumberger during the 3rd quarter valued at about $37,000. DiNuzzo Private Wealth Inc. boosted its holdings in Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 876 shares during the period. Finally, J. Stern & Co. LLP purchased a new position in shares of Schlumberger in the third quarter valued at $47,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.