Schlumberger Limited. (SLB) Upgraded by Vetr Inc. to Strong-Buy
Schlumberger Limited. (NYSE:SLB) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday. The firm presently has a $91.00 price objective on the oil and gas company’s stock. Vetr‘s price objective indicates a potential upside of 18.94% from the company’s previous close.
Several other equities research analysts have also recently weighed in on SLB. HSBC Holdings plc began coverage on Schlumberger Limited. in a research note on Wednesday. They issued a “hold” rating and a $90.00 price target for the company. SunTrust Banks, Inc. raised Schlumberger Limited. from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research note on Thursday. Jefferies Group LLC reaffirmed an “equal weight” rating on shares of Schlumberger Limited. in a research note on Friday, April 14th. Zacks Investment Research raised Schlumberger Limited. from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Deutsche Bank AG decreased their target price on Schlumberger Limited. from $101.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday. Six research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Schlumberger Limited. presently has a consensus rating of “Buy” and a consensus price target of $95.83.
Shares of Schlumberger Limited. (NYSE:SLB) traded up 0.04% during mid-day trading on Thursday, reaching $76.51. The company had a trading volume of 8,053,851 shares. Schlumberger Limited. has a 52-week low of $72.00 and a 52-week high of $87.84. The company’s market cap is $106.46 billion. The firm’s 50-day moving average price is $78.61 and its 200 day moving average price is $81.52.
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Schlumberger Limited. (NYSE:SLB) last issued its quarterly earnings results on Friday, January 20th. The oil and gas company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. The company earned $7.11 billion during the quarter, compared to analysts’ expectations of $7.10 billion. Schlumberger Limited. had a positive return on equity of 3.81% and a negative net margin of 6.07%. The business’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Equities analysts expect that Schlumberger Limited. will post $1.74 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Wednesday, February 15th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Monday, February 13th. Schlumberger Limited.’s dividend payout ratio is currently -169.49%.
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In other Schlumberger Limited. news, Director Tore I. Sandvold sold 5,000 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $81.54, for a total value of $407,700.00. Following the completion of the sale, the director now directly owns 7,750 shares of the company’s stock, valued at $631,935. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.36% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new stake in Schlumberger Limited. during the first quarter worth about $239,000. Rothschild Investment Corp IL increased its stake in Schlumberger Limited. by 9.4% in the first quarter. Rothschild Investment Corp IL now owns 17,518 shares of the oil and gas company’s stock worth $1,368,000 after buying an additional 1,499 shares in the last quarter. Huntington National Bank increased its stake in Schlumberger Limited. by 0.5% in the first quarter. Huntington National Bank now owns 476,191 shares of the oil and gas company’s stock worth $37,191,000 after buying an additional 2,562 shares in the last quarter. City Holding Co. increased its stake in Schlumberger Limited. by 1.1% in the first quarter. City Holding Co. now owns 20,149 shares of the oil and gas company’s stock worth $1,574,000 after buying an additional 210 shares in the last quarter. Finally, Bright Rock Capital Management LLC increased its stake in Schlumberger Limited. by 12.0% in the first quarter. Bright Rock Capital Management LLC now owns 103,000 shares of the oil and gas company’s stock worth $8,044,000 after buying an additional 11,000 shares in the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.
About Schlumberger Limited.
Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
To view Vetr’s full report, visit Vetr’s official website.
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