Bank of America upgraded shares of Schlumberger (NYSE:SLB) from a neutral rating to a buy rating in a research report released on Monday, Marketbeat reports. They currently have $75.00 price objective on the oil and gas company’s stock, up from their prior price objective of $66.50.
SLB has been the subject of several other reports. Zacks Investment Research lowered Schlumberger from a hold rating to a sell rating in a research report on Wednesday, November 1st. Piper Jaffray Companies boosted their price objective on Schlumberger from $74.00 to $90.00 and gave the company an overweight rating in a research report on Friday, January 19th. ValuEngine lowered Schlumberger from a hold rating to a sell rating in a research report on Sunday, December 31st. Barclays set a $75.00 price objective on Schlumberger and gave the company a hold rating in a research report on Tuesday, January 23rd. Finally, Cowen set a $85.00 price objective on Schlumberger and gave the company a buy rating in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $81.59.
Schlumberger (NYSE:SLB) opened at $66.73 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.95. Schlumberger has a 12-month low of $61.02 and a 12-month high of $82.69. The stock has a market capitalization of $92,031.55, a P/E ratio of 44.33, a P/E/G ratio of 5.12 and a beta of 0.98.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Wednesday, February 7th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Tuesday, February 6th. Schlumberger’s payout ratio is presently -183.49%.
In other news, CFO Simon Ayat sold 75,000 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $78.86, for a total value of $5,914,500.00. Following the completion of the sale, the chief financial officer now owns 138,827 shares of the company’s stock, valued at approximately $10,947,897.22. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Howard Guild sold 25,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $78.26, for a total value of $1,956,500.00. Following the completion of the sale, the insider now directly owns 22,410 shares of the company’s stock, valued at approximately $1,753,806.60. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLB. Harding Loevner LP raised its stake in Schlumberger by 1,337.3% in the 3rd quarter. Harding Loevner LP now owns 138,957,632 shares of the oil and gas company’s stock valued at $569,035,000 after acquiring an additional 129,289,552 shares during the period. First Eagle Investment Management LLC raised its stake in Schlumberger by 103.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 16,025,764 shares of the oil and gas company’s stock valued at $1,055,136,000 after acquiring an additional 8,167,945 shares during the period. Dodge & Cox raised its stake in Schlumberger by 12.8% in the 2nd quarter. Dodge & Cox now owns 48,271,463 shares of the oil and gas company’s stock valued at $3,178,193,000 after acquiring an additional 5,494,165 shares during the period. Capital International Investors raised its stake in Schlumberger by 74.8% in the 3rd quarter. Capital International Investors now owns 10,031,514 shares of the oil and gas company’s stock valued at $699,798,000 after acquiring an additional 4,294,058 shares during the period. Finally, American Century Companies Inc. raised its stake in Schlumberger by 33.5% in the 2nd quarter. American Century Companies Inc. now owns 11,117,713 shares of the oil and gas company’s stock valued at $731,990,000 after acquiring an additional 2,791,675 shares during the period. 80.69% of the stock is owned by institutional investors.
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Schlumberger Company Profile
Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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