Cowen Reiterates “$85.00” Price Target for Schlumberger (SLB)
Schlumberger (NYSE:SLB) received a $85.00 price target from stock analysts at Cowen in a report issued on Thursday. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Cowen’s target price would suggest a potential upside of 9.02% from the stock’s current price.
SLB has been the subject of several other reports. Zacks Investment Research lowered shares of Schlumberger from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Piper Jaffray Companies set a $74.00 target price on shares of Schlumberger and gave the company a “buy” rating in a report on Saturday, October 21st. FBR & Co reaffirmed a “buy” rating on shares of Schlumberger in a report on Friday, October 20th. ValuEngine lowered shares of Schlumberger from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Finally, Credit Suisse Group set a $71.00 target price on shares of Schlumberger and gave the company a “buy” rating in a report on Monday, October 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $79.56.
Schlumberger (NYSE SLB) traded up $0.92 during trading hours on Thursday, hitting $77.97. 9,207,768 shares of the stock traded hands, compared to its average volume of 9,360,000. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.53. The stock has a market cap of $108,010.00, a price-to-earnings ratio of 199.92, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01. Schlumberger has a 52-week low of $61.02 and a 52-week high of $87.84.
Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $7.91 billion during the quarter, compared to analyst estimates of $7.91 billion. Schlumberger had a net margin of 1.86% and a return on equity of 4.42%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. equities research analysts forecast that Schlumberger will post 1.46 EPS for the current year.
In other Schlumberger news, Director Tore I. Sandvold sold 3,500 shares of Schlumberger 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 sale, the director now owns 1,500 shares of the company’s stock, valued at approximately $93,945. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.38% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in SLB. Catawba Capital Management VA boosted its stake in Schlumberger by 0.7% during the 2nd quarter. Catawba Capital Management VA now owns 60,590 shares of the oil and gas company’s stock worth $3,989,000 after purchasing an additional 415 shares during the last quarter. Xact Kapitalforvaltning AB boosted its position in shares of Schlumberger by 2.1% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 111,721 shares of the oil and gas company’s stock valued at $7,356,000 after acquiring an additional 2,264 shares during the last quarter. Boltwood Capital Management boosted its position in shares of Schlumberger by 1.5% during the 2nd quarter. Boltwood Capital Management now owns 6,780 shares of the oil and gas company’s stock valued at $446,000 after acquiring an additional 100 shares during the last quarter. Trust Co boosted its position in shares of Schlumberger by 1.7% during the 1st quarter. Trust Co now owns 72,263 shares of the oil and gas company’s stock valued at $5,643,000 after acquiring an additional 1,193 shares during the last quarter. Finally, Independence Advisors LLC acquired a new position in shares of Schlumberger during the 2nd quarter valued at about $288,000. 79.31% of the stock is currently owned by institutional investors.
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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