Schlumberger (NYSE:SLB) had its target price boosted by Piper Jaffray Companies from $74.00 to $90.00 in a report released on Friday, The Fly reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Piper Jaffray Companies’ price target points to a potential upside of 17.77% from the stock’s previous close.
SLB has been the subject of several other reports. Goldman Sachs Group downgraded Schlumberger from a “conviction-buy” rating to a “buy” rating and set a $75.00 price objective for the company. in a research report on Monday, November 13th. Royal Bank of Canada set a $73.00 price objective on Schlumberger and gave the stock a “buy” rating in a research report on Thursday, December 21st. Scotiabank set a $80.00 price objective on Schlumberger and gave the stock a “buy” rating in a research report on Saturday, October 21st. Deutsche Bank started coverage on Schlumberger in a research report on Tuesday, October 10th. They set a “buy” rating and a $78.00 price objective for the company. Finally, ValuEngine downgraded Schlumberger from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $80.15.
Shares of Schlumberger (NYSE:SLB) traded up $0.05 during mid-day trading on Friday, hitting $76.42. The company had a trading volume of 13,150,000 shares, compared to its average volume of 9,290,000. The company has a current ratio of 1.53, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. Schlumberger has a twelve month low of $61.02 and a twelve month high of $87.84. The company has a market cap of $105,860.00, a P/E ratio of 195.95, a P/E/G ratio of 5.91 and a beta of 1.01.
Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 19th. The oil and gas company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.04. Schlumberger had a return on equity of 4.42% and a net margin of 1.86%. The business had revenue of $8.18 billion during the quarter, compared to the consensus estimate of $8.12 billion. During the same period in the prior year, the company earned $0.27 EPS. Schlumberger’s revenue for the quarter was up 15.1% on a year-over-year basis. analysts anticipate that Schlumberger will post 1.46 EPS for the current year.
In related news, Director Tore I. Sandvold sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was 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 owns 1,500 shares of the company’s stock, valued at $93,945. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.38% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harding Loevner LP boosted its holdings in Schlumberger by 1,337.3% in the third quarter. Harding Loevner LP now owns 138,957,632 shares of the oil and gas company’s stock worth $569,035,000 after acquiring an additional 129,289,552 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in Schlumberger by 103.9% in the second quarter. First Eagle Investment Management LLC now owns 16,025,764 shares of the oil and gas company’s stock worth $1,055,136,000 after acquiring an additional 8,167,945 shares in the last quarter. Dodge & Cox boosted its holdings in Schlumberger by 12.8% in the second quarter. Dodge & Cox now owns 48,271,463 shares of the oil and gas company’s stock worth $3,178,193,000 after acquiring an additional 5,494,165 shares in the last quarter. Capital International Investors boosted its holdings in Schlumberger by 74.8% in the third quarter. Capital International Investors now owns 10,031,514 shares of the oil and gas company’s stock worth $699,798,000 after acquiring an additional 4,294,058 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Schlumberger by 33.5% in the second quarter. American Century Companies Inc. now owns 11,117,713 shares of the oil and gas company’s stock worth $731,990,000 after acquiring an additional 2,791,675 shares in the last quarter. 79.35% of the stock is owned by institutional investors and hedge funds.
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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.