Schlumberger (NYSE:SLB) Lifted to Overweight at Barclays

Barclays upgraded shares of Schlumberger (NYSE:SLB) from an equal weight rating to an overweight rating in a research report released on Monday, BenzingaRatingsTable reports. They currently have $50.00 price target on the oil and gas company’s stock, up from their previous price target of $45.00.

A number of other equities analysts also recently commented on the stock. Morgan Stanley raised shares of Schlumberger from an equal weight rating to an overweight rating and set a $51.00 price objective for the company in a research note on Tuesday, September 10th. Piper Jaffray Companies set a $40.00 price objective on shares of Schlumberger and gave the stock a buy rating in a research note on Monday, July 1st. Stifel Nicolaus raised Schlumberger from a hold rating to a buy rating and set a $50.00 price target on the stock in a research report on Friday, June 7th. Raymond James reaffirmed a hold rating on shares of Schlumberger in a research report on Friday, June 21st. Finally, AltaCorp Capital reaffirmed an outperform rating on shares of Schlumberger in a research report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $51.11.

Shares of NYSE:SLB opened at $37.76 on Monday. The company has a market capitalization of $54.37 billion, a price-to-earnings ratio of 23.31, a price-to-earnings-growth ratio of 2.77 and a beta of 1.49. Schlumberger has a 52 week low of $31.03 and a 52 week high of $63.65. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $34.67 and a 200 day moving average of $39.20.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $8.27 billion during the quarter, compared to the consensus estimate of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. Schlumberger’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 earnings per share. On average, sell-side analysts expect that Schlumberger will post 1.5 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend is Tuesday, September 3rd. Schlumberger’s payout ratio is presently 123.46%.

In related news, EVP Patrick Schorn sold 12,151 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $38.93, for a total value of $473,038.43. Following the transaction, the executive vice president now directly owns 130,000 shares of the company’s stock, valued at approximately $5,060,900. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephanie Cox sold 24,057 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $40.59, for a total value of $976,473.63. Following the completion of the transaction, the insider now directly owns 46,354 shares in the company, valued at $1,881,508.86. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLB. Nuveen Asset Management LLC increased its position in shares of Schlumberger by 14,172.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 7,796,324 shares of the oil and gas company’s stock valued at $309,825,000 after acquiring an additional 7,741,700 shares during the period. Invesco Ltd. increased its position in shares of Schlumberger by 57.3% in the 2nd quarter. Invesco Ltd. now owns 16,703,642 shares of the oil and gas company’s stock valued at $663,804,000 after acquiring an additional 6,087,455 shares during the period. Mackenzie Financial Corp increased its position in shares of Schlumberger by 14,241.7% in the 2nd quarter. Mackenzie Financial Corp now owns 2,921,974 shares of the oil and gas company’s stock valued at $116,119,000 after acquiring an additional 2,901,600 shares during the period. BlackRock Inc. increased its position in shares of Schlumberger by 2.7% in the 2nd quarter. BlackRock Inc. now owns 89,868,836 shares of the oil and gas company’s stock valued at $3,571,386,000 after acquiring an additional 2,340,320 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Schlumberger by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 112,662,996 shares of the oil and gas company’s stock valued at $4,477,227,000 after acquiring an additional 1,715,548 shares during the period. 76.67% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Company Profile

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

Further Reading: Diluted Earnings Per Share

Analyst Recommendations for Schlumberger (NYSE:SLB)

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