Schlumberger (NYSE:SLB – Get Rating) had its price target increased by equities researchers at Barclays from $62.00 to $74.00 in a research note issued to investors on Wednesday, The Fly reports. The firm currently has an "overweight" rating on the oil and gas company's stock. Barclays's target price suggests a potential upside of 28.76% from the company's previous close.
Other equities analysts have also issued research reports about the company. Susquehanna Bancshares upped their price objective on Schlumberger from $52.00 to $59.00 and gave the stock a "positive" rating in a research note on Monday, October 24th. Raymond James assumed coverage on Schlumberger in a research note on Friday, December 9th. They issued an "outperform" rating and a $65.00 price objective for the company. HSBC upped their price objective on Schlumberger to $56.80 in a research note on Thursday, October 27th. Wells Fargo & Company upped their price objective on Schlumberger from $51.00 to $69.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 26th. Finally, The Goldman Sachs Group upped their price objective on Schlumberger from $46.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, October 25th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $60.61.
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Schlumberger Stock Performance
Shares of SLB opened at $57.47 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.59. The business has a 50-day simple moving average of $53.11 and a two-hundred day simple moving average of $45.08. The stock has a market cap of $81.49 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 0.48 and a beta of 1.79. Schlumberger has a 52 week low of $30.65 and a 52 week high of $62.78.
Schlumberger (NYSE:SLB – Get Rating) last issued its quarterly earnings results on Friday, January 20th. The oil and gas company reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.02. The business had revenue of $7.88 billion during the quarter, compared to analysts' expectations of $7.80 billion. Schlumberger had a return on equity of 18.51% and a net
margin of 12.25%. The business's quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.41 earnings per share. On average, analysts expect that Schlumberger will post 3.01 EPS for the current year.
Insider Buying and Selling at Schlumberger
In other Schlumberger news, VP Kevin Fyfe sold 6,095 shares of the company's stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $53.00, for a total transaction of $323,035.00. Following the sale, the vice president now directly owns 35,535 shares in the company, valued at $1,883,355. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Kevin Fyfe sold 6,095 shares of the stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $53.00, for a total value of $323,035.00. Following the sale, the vice president now directly owns 35,535 shares in the company, valued at $1,883,355. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Howard Guild sold 33,063 shares of the stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $56.99, for a total value of $1,884,260.37. Following the completion of the sale, the chief accounting officer now owns 35,994 shares in the company, valued at $2,051,298.06. The disclosure for this sale can be found here. Insiders have sold a total of 335,129 shares of company stock worth $18,714,943 over the last ninety days. Company insiders own 0.28% of the company's stock.
Institutional Investors Weigh In On Schlumberger
Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Schlumberger by 1.1% in the third quarter. Vanguard Group Inc. now owns 123,210,874 shares of the oil and gas company's stock worth $4,423,270,000 after buying an additional 1,393,060 shares during the period. State Street Corp increased its holdings in Schlumberger by 1.7% during the 3rd quarter. State Street Corp now owns 91,245,791 shares of the oil and gas company's stock worth $3,291,135,000 after purchasing an additional 1,537,620 shares during the period. FMR LLC increased its holdings in Schlumberger by 44.9% during the 2nd quarter. FMR LLC now owns 32,671,828 shares of the oil and gas company's stock worth $1,168,374,000 after purchasing an additional 10,121,321 shares during the period. Amundi increased its holdings in Schlumberger by 1.5% during the 2nd quarter. Amundi now owns 29,555,312 shares of the oil and gas company's stock worth $931,195,000 after purchasing an additional 439,979 shares during the period. Finally, Jennison Associates LLC increased its holdings in Schlumberger by 59.3% during the 2nd quarter. Jennison Associates LLC now owns 28,917,488 shares of the oil and gas company's stock worth $1,034,089,000 after purchasing an additional 10,761,322 shares during the period. 80.22% of the stock is currently owned by hedge funds and other institutional investors.
About Schlumberger
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Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company's software and seismic businesses with its integrated offering of asset performance solutions.
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