Schlumberger (NYSE:SLB) received a $78.00 price objective from equities researchers at Jefferies Group in a research note issued on Thursday. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Jefferies Group’s price objective suggests a potential upside of 6.70% from the company’s previous close.
Other research analysts have also issued reports about the company. Deutsche Bank started coverage on Schlumberger in a research report on Tuesday, October 10th. They set a “buy” rating and a $78.00 target price on the stock. Royal Bank of Canada set a $86.00 price target on Schlumberger and gave the company a “buy” rating in a research note on Saturday, October 7th. Cowen set a $80.00 price target on Schlumberger and gave the company a “buy” rating in a research note on Friday, October 6th. Citigroup boosted their price target on Schlumberger from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, October 5th. Finally, Scotiabank set a $80.00 price target on Schlumberger and gave the company a “buy” rating in a research note on Saturday, October 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Schlumberger currently has an average rating of “Buy” and an average price target of $79.37.
Shares of Schlumberger (SLB) traded up $1.77 during trading hours on Thursday, reaching $73.10. The company had a trading volume of 12,251,779 shares, compared to its average volume of 10,152,914. Schlumberger has a 12 month low of $61.02 and a 12 month high of $87.84. The firm has a market cap of $101,260.00, a price-to-earnings ratio of 187.44, a P/E/G ratio of 1.46 and a beta of 1.01. The company has a quick ratio of 1.20, a current ratio of 1.53 and a debt-to-equity ratio of 0.40.
Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. Schlumberger had a return on equity of 4.42% and a net margin of 1.86%. The company had revenue of $7.91 billion for the quarter, compared to analyst estimates of $7.91 billion. During the same period in the prior year, the company posted $0.25 EPS. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. equities analysts predict that Schlumberger will post 1.47 earnings per share for the current fiscal year.
In other news, Director Tore I. Sandvold sold 3,500 shares of the company’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $62.63, for a total value of $219,205.00. Following the sale, the director now owns 1,500 shares in the company, valued at $93,945. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of SLB. Tredje AP fonden boosted its position in Schlumberger by 0.3% during the first quarter. Tredje AP fonden now owns 100,972 shares of the oil and gas company’s stock worth $7,936,000 after purchasing an additional 303 shares in the last quarter. Westpac Banking Corp raised its holdings in shares of Schlumberger by 40.2% during the first quarter. Westpac Banking Corp now owns 4,043 shares of the oil and gas company’s stock valued at $316,000 after acquiring an additional 1,160 shares during the last quarter. Comerica Securities Inc. raised its holdings in shares of Schlumberger by 61.8% during the first quarter. Comerica Securities Inc. now owns 14,328 shares of the oil and gas company’s stock valued at $1,119,000 after acquiring an additional 5,472 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd raised its holdings in shares of Schlumberger by 180.0% during the first quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 7,000 shares of the oil and gas company’s stock valued at $547,000 after acquiring an additional 4,500 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Schlumberger by 4.2% during the first quarter. Legal & General Group Plc now owns 6,715,534 shares of the oil and gas company’s stock valued at $524,469,000 after acquiring an additional 273,522 shares during the last quarter. Institutional investors own 79.30% of the company’s stock.
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Schlumberger 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.