Schlumberger (SLB) Hits New 12-Month Low at $58.11

Shares of Schlumberger Limited. (NYSE:SLB) hit a new 52-week low during trading on Thursday . The stock traded as low as $58.11 and last traded at $58.11, with a volume of 742850 shares trading hands. The stock had previously closed at $59.24.

SLB has been the subject of several recent research reports. Stifel Nicolaus assumed coverage on shares of Schlumberger in a research report on Monday, September 10th. They set a “hold” rating and a $69.00 target price for the company. Seaport Global Securities set a $72.00 price target on shares of Schlumberger and gave the company a “buy” rating in a report on Monday, July 23rd. Bank of America assumed coverage on shares of Schlumberger in a report on Wednesday. They issued a “buy” rating for the company. Citigroup decreased their price target on shares of Schlumberger from $78.00 to $77.00 and set a “buy” rating for the company in a report on Monday, July 23rd. Finally, Morgan Stanley assumed coverage on shares of Schlumberger in a report on Tuesday, September 18th. They issued an “equal weight” rating and a $72.00 price target for the company. Eight research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $78.90.

The company has a market capitalization of $84.32 billion, a price-to-earnings ratio of 39.11, a price-to-earnings-growth ratio of 5.68 and a beta of 0.93. The company has a current ratio of 1.12, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 20th. The oil and gas company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. The firm had revenue of $8.30 billion during the quarter, compared to analyst estimates of $8.35 billion. Schlumberger had a negative net margin of 2.34% and a positive return on equity of 6.25%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 EPS. As a group, equities research analysts predict that Schlumberger Limited. will post 1.79 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Wednesday, September 5th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Tuesday, September 4th. Schlumberger’s payout ratio is presently 133.33%.

In related news, Director Michael E. Marks bought 8,000 shares of Schlumberger stock in a transaction that occurred on Thursday, September 6th. The stock was purchased at an average cost of $60.31 per share, with a total value of $482,480.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.48% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in SLB. Fisher Asset Management LLC boosted its stake in Schlumberger by 21,872.1% in the 1st quarter. Fisher Asset Management LLC now owns 5,868,964 shares of the oil and gas company’s stock worth $380,192,000 after purchasing an additional 5,842,253 shares during the period. Summit Trail Advisors LLC boosted its stake in Schlumberger by 6,833.5% in the 1st quarter. Summit Trail Advisors LLC now owns 3,457,055 shares of the oil and gas company’s stock worth $3,457,000 after purchasing an additional 3,407,195 shares during the period. Bank of New York Mellon Corp boosted its stake in Schlumberger by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 29,461,493 shares of the oil and gas company’s stock worth $1,974,805,000 after purchasing an additional 2,188,823 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Schlumberger in the 1st quarter worth $47,225,000. Finally, Bain Capital Public Equity Management LLC acquired a new position in Schlumberger in the 2nd quarter worth $45,421,000. 78.43% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Company Profile (NYSE:SLB)

Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.

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