Scotiabank Analysts Give Schlumberger N.V. (SLB) a $80.00 Price Target
Schlumberger N.V. (NYSE:SLB) received a $80.00 price target from stock analysts at Scotiabank in a research report issued on Saturday. The firm presently has a “buy” rating on the oil and gas company’s stock. Scotiabank’s price target indicates a potential upside of 26.68% from the stock’s current price.
SLB has been the topic of several other research reports. Zacks Investment Research raised Schlumberger N.V. from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. FBR & Co reissued a “buy” rating on shares of Schlumberger N.V. in a research report on Friday. Piper Jaffray Companies set a $74.00 price objective on Schlumberger N.V. and gave the stock a “buy” rating in a research report on Saturday. Iberia Capital cut Schlumberger N.V. from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $100.00 to $77.00 in a research report on Thursday, June 29th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $80.00 price objective on shares of Schlumberger N.V. in a research report on Wednesday, September 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $81.92.
Shares of Schlumberger N.V. (NYSE:SLB) traded down 2.09% during midday trading on Friday, hitting $63.15. The stock had a trading volume of 19,259,629 shares. Schlumberger N.V. has a 52 week low of $61.40 and a 52 week high of $87.84. The firm has a market cap of $87.75 billion, a P/E ratio of 157.88 and a beta of 1.05. The company’s 50 day moving average is $67.31 and its 200 day moving average is $68.66.
Schlumberger N.V. (NYSE:SLB) last posted its quarterly earnings data on Friday, October 20th. The oil and gas company reported $0.42 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. The business had revenue of $7.91 billion for the quarter, compared to analysts’ expectations of $7.91 billion. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The business’s revenue was up 12.6% on a year-over-year basis. On average, equities analysts predict that Schlumberger N.V. will post $1.51 earnings per share for the current fiscal year.
In related news, Director Helge Lund acquired 2,800 shares of Schlumberger N.V. stock in a transaction that occurred on Monday, July 24th. The stock was bought at an average price of $66.78 per share, with a total value of $186,984.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael E. Marks acquired 8,000 shares of Schlumberger N.V. stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average cost of $64.20 per share, with a total value of $513,600.00. The disclosure for this purchase can be found here. 0.38% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Edge Wealth Management LLC increased its position in Schlumberger N.V. by 148.4% during the 3rd quarter. Edge Wealth Management LLC now owns 3,361 shares of the oil and gas company’s stock valued at $234,000 after buying an additional 2,008 shares in the last quarter. Financial Advisory Service Inc. bought a new position in Schlumberger N.V. during the 3rd quarter valued at approximately $216,000. Glynn Capital Management LLC increased its position in Schlumberger N.V. by 34.7% during the 3rd quarter. Glynn Capital Management LLC now owns 21,550 shares of the oil and gas company’s stock valued at $1,503,000 after buying an additional 5,550 shares in the last quarter. Honkamp Krueger Financial Services Inc. increased its position in Schlumberger N.V. by 16.7% during the 3rd quarter. Honkamp Krueger Financial Services Inc. now owns 5,874 shares of the oil and gas company’s stock valued at $410,000 after buying an additional 840 shares in the last quarter. Finally, Oakbrook Investments LLC increased its position in Schlumberger N.V. by 1.2% during the 3rd quarter. Oakbrook Investments LLC now owns 400,805 shares of the oil and gas company’s stock valued at $27,960,000 after buying an additional 4,945 shares in the last quarter. 78.85% of the stock is owned by institutional investors.
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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