Schlumberger (SLB) Stock Rating Reaffirmed by Royal Bank of Canada

Schlumberger (NYSE:SLB)‘s stock had its “buy” rating reaffirmed by research analysts at Royal Bank of Canada in a research report issued on Sunday.

A number of other brokerages have also issued reports on SLB. Jefferies Group set a $78.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a research report on Thursday, January 4th. Loop Capital lowered their target price on shares of Schlumberger from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. Scotiabank set a $80.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a research report on Saturday, October 21st. Citigroup raised their target price on shares of Schlumberger from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, October 5th. Finally, Deutsche Bank started coverage on shares of Schlumberger in a research report on Tuesday, October 10th. They set a “buy” rating and a $78.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Schlumberger has a consensus rating of “Buy” and a consensus target price of $80.15.

Shares of Schlumberger (SLB) traded up $0.05 on Friday, hitting $76.42. 13,144,460 shares of the stock were exchanged, compared to its average volume of 9,460,000. The company has a current ratio of 1.53, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $105,860.00, a price-to-earnings ratio of -70.11, a PEG ratio of 5.85 and a beta of 1.01. Schlumberger has a twelve month low of $61.02 and a twelve month high of $87.78.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The business had revenue of $8.18 billion for the quarter, compared to analyst estimates of $8.12 billion. Schlumberger had a net margin of 1.86% and a return on equity of 4.42%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. analysts expect that Schlumberger will post 2.17 earnings per share for the current fiscal year.

In other news, Director Tore I. Sandvold sold 3,500 shares of Schlumberger stock in a transaction 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 transaction, the director now owns 1,500 shares of the company’s stock, valued at approximately $93,945. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in SLB. Cobiz Wealth LLC increased its position in Schlumberger by 13.0% during the 2nd quarter. Cobiz Wealth LLC now owns 80,024 shares of the oil and gas company’s stock worth $5,269,000 after purchasing an additional 9,187 shares in the last quarter. Portland Global Advisors LLC increased its position in Schlumberger by 4.9% during the 2nd quarter. Portland Global Advisors LLC now owns 26,784 shares of the oil and gas company’s stock worth $1,763,000 after purchasing an additional 1,245 shares in the last quarter. Confluence Investment Management LLC increased its position in Schlumberger by 74.3% during the 2nd quarter. Confluence Investment Management LLC now owns 542,568 shares of the oil and gas company’s stock worth $35,723,000 after purchasing an additional 231,318 shares in the last quarter. Bank of Montreal Can increased its position in Schlumberger by 41.6% during the 2nd quarter. Bank of Montreal Can now owns 1,601,025 shares of the oil and gas company’s stock worth $105,414,000 after purchasing an additional 470,615 shares in the last quarter. Finally, Marshwinds Advisory Co. increased its position in Schlumberger by 8.8% during the 2nd quarter. Marshwinds Advisory Co. now owns 18,500 shares of the oil and gas company’s stock worth $1,218,000 after purchasing an additional 1,499 shares in the last quarter. 79.35% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Schlumberger (NYSE:SLB)

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