Schlumberger (NYSE:SLB) received a $73.00 target price from research analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Royal Bank of Canada’s price target points to a potential upside of 8.10% from the company’s previous close.
Other research analysts have also recently issued reports about the stock. Barclays set a $70.00 price objective on shares of Schlumberger and gave the stock a “hold” rating in a research note on Wednesday, October 25th. SunTrust Banks reaffirmed a “hold” rating on shares of Schlumberger in a research note on Tuesday, October 31st. Citigroup lifted their target price on shares of Schlumberger from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Morgan Stanley lowered their target price on shares of Schlumberger from $90.00 to $81.00 and set an “overweight” rating for the company in a research note on Monday, October 23rd. Finally, J P Morgan Chase & Co lowered their target price on shares of Schlumberger from $79.00 to $76.00 and set an “overweight” rating for the company in a research note on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $79.42.
Shares of Schlumberger (NYSE SLB) traded down $0.33 on Thursday, hitting $67.53. 4,397,859 shares of the stock were exchanged, compared to its average volume of 7,251,728. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.53. Schlumberger has a fifty-two week low of $61.02 and a fifty-two week high of $87.84. The stock has a market cap of $90,429.90, a PE ratio of 50.60, a price-to-earnings-growth ratio of 2.00 and a beta of 1.01.
In other news, Director Tore I. Sandvold sold 3,500 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total transaction of $219,205.00. Following the completion of the sale, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $93,945. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Valley National Advisers Inc. increased its position in shares of Schlumberger by 0.3% in the 2nd quarter. Valley National Advisers Inc. now owns 2,594 shares of the oil and gas company’s stock worth $171,000 after purchasing an additional 8 shares during the last quarter. Wealth Architects LLC increased its position in shares of Schlumberger by 0.3% in the 1st quarter. Wealth Architects LLC now owns 4,003 shares of the oil and gas company’s stock worth $313,000 after purchasing an additional 13 shares during the last quarter. Dynamic Advisors Solutions LLC increased its position in shares of Schlumberger by 0.3% in the 3rd quarter. Dynamic Advisors Solutions LLC now owns 6,195 shares of the oil and gas company’s stock worth $487,000 after purchasing an additional 18 shares during the last quarter. Bingham Osborn & Scarborough LLC increased its position in shares of Schlumberger by 0.7% in the 4th quarter. Bingham Osborn & Scarborough LLC now owns 2,589 shares of the oil and gas company’s stock worth $217,000 after purchasing an additional 18 shares during the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management increased its position in shares of Schlumberger by 0.5% in the 1st quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 3,720 shares of the oil and gas company’s stock worth $291,000 after purchasing an additional 18 shares during the last quarter. 79.32% of the stock is owned by institutional investors.
About Schlumberger
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.
