Schlumberger (NYSE:SLB) received a $85.00 price target from equities researchers at Cowen in a report released on Wednesday. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Cowen’s target price would indicate a potential upside of 30.57% from the company’s previous close.
Other analysts have also issued research reports about the stock. Scotiabank set a $80.00 target price on shares of Schlumberger and gave the company a “buy” rating in a research report on Saturday, October 21st. Piper Jaffray Companies set a $74.00 target price on shares of Schlumberger and gave the company a “buy” rating in a research report on Saturday, October 21st. FBR & Co reiterated a “buy” rating on shares of Schlumberger in a research report on Friday, October 20th. Credit Suisse Group set a $71.00 target price on shares of Schlumberger and gave the company a “buy” rating in a research report on Monday, October 23rd. Finally, B. Riley reiterated a “buy” rating on shares of Schlumberger in a research report on Friday, November 3rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $82.29.
Shares of Schlumberger (SLB) traded down $0.82 during midday trading on Wednesday, hitting $65.10. 4,576,176 shares of the stock traded hands, compared to its average volume of 10,030,439. Schlumberger has a 1-year low of $61.02 and a 1-year high of $82.69. The firm has a market capitalization of $89,580.00, a price-to-earnings ratio of -59.77, a price-to-earnings-growth ratio of 5.08 and a beta of 0.98. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 0.40.
In other Schlumberger news, insider Howard Guild sold 25,000 shares of Schlumberger stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $78.26, for a total transaction of $1,956,500.00. Following the transaction, the insider now directly owns 22,410 shares of the company’s stock, valued at $1,753,806.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Simon Ayat sold 75,000 shares of Schlumberger stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $78.86, for a total transaction of $5,914,500.00. Following the transaction, the chief financial officer now directly owns 138,827 shares in the company, valued at $10,947,897.22. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of SLB. Harding Loevner LP raised its stake in shares of Schlumberger by 1,337.3% in the 3rd quarter. Harding Loevner LP now owns 138,957,632 shares of the oil and gas company’s stock valued at $569,035,000 after acquiring an additional 129,289,552 shares during the period. Vanguard Group Inc. raised its stake in shares of Schlumberger by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 99,022,940 shares of the oil and gas company’s stock valued at $6,519,670,000 after acquiring an additional 2,790,227 shares during the period. Dodge & Cox raised its stake in shares of Schlumberger by 12.8% in the 2nd quarter. Dodge & Cox now owns 48,271,463 shares of the oil and gas company’s stock valued at $3,178,193,000 after acquiring an additional 5,494,165 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Schlumberger by 6.8% in the 4th quarter. Bank of New York Mellon Corp now owns 27,353,450 shares of the oil and gas company’s stock valued at $1,843,349,000 after acquiring an additional 1,733,171 shares during the period. Finally, Northern Cross LLC raised its stake in shares of Schlumberger by 15.3% in the 4th quarter. Northern Cross LLC now owns 19,852,648 shares of the oil and gas company’s stock valued at $1,337,870,000 after acquiring an additional 2,637,527 shares during the period. 79.18% of the stock is currently owned by institutional investors.
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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.
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