Morgan Stanley Lowers Schlumberger N.V. (SLB) Price Target to $81.00
Schlumberger N.V. (NYSE:SLB) had its price objective reduced by stock analysts at Morgan Stanley from $90.00 to $81.00 in a note issued to investors on Monday. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Morgan Stanley’s price target indicates a potential upside of 28.27% from the company’s current price.
Several other research firms also recently commented on SLB. Jefferies Group LLC set a $80.00 price objective on Schlumberger N.V. and gave the company a “buy” rating in a research note on Friday, August 25th. BidaskClub downgraded Schlumberger N.V. from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Royal Bank Of Canada set a $86.00 price objective on Schlumberger N.V. and gave the company a “buy” rating in a research note on Saturday, October 7th. Scotiabank set a $80.00 price objective on Schlumberger N.V. and gave the company a “buy” rating in a research note on Saturday. Finally, Citigroup Inc. upped their price objective on Schlumberger N.V. from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $80.81.
Schlumberger N.V. (NYSE SLB) traded down 0.65% during mid-day trading on Monday, reaching $62.74. The company had a trading volume of 1,742,993 shares. The stock has a market capitalization of $86.87 billion, a PE ratio of 494.02 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. has a one year low of $61.40 and a one year high of $87.84.
Schlumberger N.V. (NYSE:SLB) last released its earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $7.91 billion during the quarter, compared to analyst estimates of $7.91 billion. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. Schlumberger N.V.’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. Equities research analysts anticipate that Schlumberger N.V. will post $1.51 earnings per share for the current year.
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In other news, Director Michael E. Marks bought 8,000 shares of Schlumberger N.V. stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of $64.20 per share, with a total value of $513,600.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in SLB. Baker Avenue Asset Management grew its stake in shares of Schlumberger N.V. by 3.1% during the third quarter. Baker Avenue Asset Management now owns 39,042 shares of the oil and gas company’s stock valued at $2,693,000 after buying an additional 1,180 shares during the last quarter. Palo Capital grew its stake in shares of Schlumberger N.V. by 105.5% during the third quarter. Palo Capital now owns 22,120 shares of the oil and gas company’s stock valued at $1,526,000 after buying an additional 11,355 shares during the last quarter. Gerstein Fisher grew its stake in shares of Schlumberger N.V. by 12.8% during the third quarter. Gerstein Fisher now owns 7,881 shares of the oil and gas company’s stock valued at $544,000 after buying an additional 896 shares during the last quarter. J. Goldman & Company bought a new position in shares of Schlumberger N.V. during the third quarter valued at about $12,811,000. Finally, TrimTabs Asset Management bought a new position in shares of Schlumberger N.V. during the third quarter valued at about $1,899,000. 78.85% of the stock is currently owned by hedge funds and other institutional investors.
About Schlumberger N.V.
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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