Citigroup Inc. Increases Schlumberger NV (SLB) Price Target to $93.00
Schlumberger NV (NYSE:SLB) had its price objective hoisted by equities researchers at Citigroup Inc. from $89.00 to $93.00 in a research note issued to investors on Tuesday. The firm currently has a “buy” rating on the stock. Citigroup Inc.’s price target indicates a potential upside of 12.96% from the stock’s previous close.
A number of other analysts have also commented on SLB. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $94.00 price target on shares of Schlumberger NV in a research note on Wednesday, June 15th. Vetr raised Schlumberger NV from a “buy” rating to a “strong-buy” rating and set a $86.33 price target for the company in a research note on Wednesday, June 15th. Simmons reaffirmed an “outperform” rating and issued a $84.00 price target (down previously from $86.00) on shares of Schlumberger NV in a research note on Monday, June 20th. Zacks Investment Research raised Schlumberger NV from a “strong sell” rating to a “hold” rating in a research note on Monday, June 27th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Schlumberger NV in a research note on Tuesday, June 28th. Four analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $90.69.
Schlumberger NV (NYSE:SLB) traded down 1.24% during mid-day trading on Tuesday, hitting $81.31. 2,497,106 shares of the stock traded hands. The firm’s market cap is $113.08 billion. Schlumberger NV has a 52-week low of $59.60 and a 52-week high of $83.97. The firm’s 50-day moving average is $78.68 and its 200 day moving average is $77.99.
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Schlumberger NV (NYSE:SLB) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. Schlumberger NV had a positive return on equity of 6.88% and a negative net margin of 5.64%. The company earned $7.16 billion during the quarter, compared to analyst estimates of $7.09 billion. Equities analysts predict that Schlumberger NV will post $1.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Wednesday, September 7th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Friday, September 2nd. Schlumberger NV’s dividend payout ratio is currently -168.07%.
In other news, CFO Simon Ayat sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $83.68, for a total transaction of $4,184,000.00. Following the transaction, the chief financial officer now owns 153,335 shares of the company’s stock, valued at approximately $12,831,072.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Tore I. Sandvold sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $78.09, for a total value of $195,225.00. Following the transaction, the director now directly owns 17,750 shares in the company, valued at approximately $1,386,097.50. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Exxonmobil Investment Management Inc. TX increased its position in shares of Schlumberger NV by 17.9% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 359,677 shares of the company’s stock valued at $28,443,000 after buying an additional 54,547 shares during the period. Geode Capital Management LLC increased its position in shares of Schlumberger NV by 0.3% in the first quarter. Geode Capital Management LLC now owns 10,381,557 shares of the company’s stock valued at $764,118,000 after buying an additional 25,983 shares during the period. PGGM Investments increased its position in shares of Schlumberger NV by 37.7% in the second quarter. PGGM Investments now owns 414,592 shares of the company’s stock valued at $32,786,000 after buying an additional 113,523 shares during the period. Altrinsic Global Advisors LLC increased its position in shares of Schlumberger NV by 70.5% in the first quarter. Altrinsic Global Advisors LLC now owns 521,904 shares of the company’s stock valued at $38,491,000 after buying an additional 215,817 shares during the period. Finally, RNC Capital Management LLC increased its position in shares of Schlumberger NV by 1.5% in the second quarter. RNC Capital Management LLC now owns 330,717 shares of the company’s stock valued at $26,153,000 after buying an additional 4,920 shares during the period. 78.39% of the stock is currently owned by hedge funds and other institutional investors.
About Schlumberger NV
Schlumberger N.V. is a supplier of technology, integrated project management and information solutions to the international oil and gas exploration and production industry. The Company operates in the oilfield service markets through three groups: Reservoir Characterization, Drilling and Production. Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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