Jefferies Financial Group Issues Pessimistic Forecast for Schlumberger (NYSE:SLB) Stock Price

Schlumberger (NYSE:SLB) had its price objective decreased by Jefferies Financial Group from $64.00 to $61.00 in a research report released on Friday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the oil and gas company’s stock.

A number of other analysts have also weighed in on the company. Stifel Nicolaus reduced their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Morgan Stanley dropped their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Citigroup dropped their target price on Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, Barclays lowered their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.25.

Schlumberger Price Performance

Schlumberger stock opened at $38.59 on Friday. The firm has a market capitalization of $54.50 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52. Schlumberger has a 12-month low of $36.52 and a 12-month high of $55.69. The firm has a 50-day moving average price of $41.12 and a 200-day moving average price of $43.32. 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 announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts forecast that Schlumberger will post 3.39 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Several large investors have recently made changes to their positions in the business. 1832 Asset Management L.P. acquired a new position in Schlumberger during the second quarter valued at $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% in the 3rd 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 valued at $470,425,000 after buying an additional 1,916,851 shares during the period. Legal & General Group Plc lifted its holdings in shares of Schlumberger by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after buying an additional 1,560,684 shares during the period. Dimensional Fund Advisors LP grew its holdings in 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 acquiring an additional 915,705 shares during the period. Finally, Merewether Investment Management LP purchased a new position in Schlumberger during the second quarter valued at approximately $42,957,000. 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.