Schlumberger N.V. (NYSE:SLB) Price Target Cut to $80.00
Schlumberger N.V. (NYSE:SLB) had its price target decreased by research analysts at Loop Capital from $93.00 to $80.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Loop Capital’s price target points to a potential upside of 20.45% from the stock’s previous close.
SLB has been the topic of several other reports. Zacks Investment Research raised Schlumberger N.V. from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Scotiabank set a $90.00 target price on shares of Schlumberger N.V. and gave the company a “buy” rating in a research note on Friday, July 7th. Stephens reiterated an “overweight” rating and set a $89.00 target price on shares of Schlumberger N.V. in a research note on Monday, March 27th. Jefferies Group LLC reiterated an “equal weight” rating on shares of Schlumberger N.V. in a research note on Friday, April 14th. Finally, Cowen and Company reiterated an “outperform” rating and set a $99.00 target price on shares of Schlumberger N.V. in a research note on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $86.93.
Shares of Schlumberger N.V. (NYSE:SLB) opened at 66.42 on Tuesday. The company’s 50 day moving average price is $66.90 and its 200-day moving average price is $75.34. The stock has a market capitalization of $91.99 billion, a P/E ratio of 522.99 and a beta of 1.02. Schlumberger N.V. has a 12 month low of $64.15 and a 12 month high of $87.84.
Schlumberger N.V. (NYSE:SLB) last released its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.05. The business had revenue of $7.46 billion for the quarter, compared to analysts’ expectations of $7.25 billion. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 EPS. Equities analysts predict that Schlumberger N.V. will post $1.44 earnings per share for the current year.
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In other Schlumberger N.V. news, Director Tore I. Sandvold sold 5,000 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $69.82, for a total value of $349,100.00. Following the completion of the sale, the director now owns 5,000 shares in the company, valued at approximately $349,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Aaron Gatt Floridia sold 40,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $69.17, for a total value of $2,766,800.00. Following the completion of the sale, the president now owns 96,175 shares of the company’s stock, valued at approximately $6,652,424.75. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Edge Wealth Management increased its position in Schlumberger N.V. by 714.3% in the fourth quarter. Edge Wealth Management now owns 570 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 500 shares during the period. SRS Capital Advisors Inc. bought a new position in Schlumberger N.V. during the fourth quarter valued at approximately $101,000. Smith Asset Management Group LP increased its position in Schlumberger N.V. by 6.7% in the third quarter. Smith Asset Management Group LP now owns 1,280 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 80 shares during the period. Tradewinds Capital Management LLC increased its position in Schlumberger N.V. by 29.8% in the first quarter. Tradewinds Capital Management LLC now owns 1,338 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 307 shares during the period. Finally, Rocky Mountain Advisers LLC increased its position in Schlumberger N.V. by 9,507.1% in the fourth quarter. Rocky Mountain Advisers LLC now owns 1,345 shares of the oil and gas company’s stock valued at $113,000 after buying an additional 1,331 shares during the period. 79.22% of the stock is owned by institutional investors and hedge funds.
Schlumberger N.V. Company Profile
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.
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