Schlumberger (SLB) Given a $86.00 Price Target at Credit Suisse Group

Credit Suisse Group set a $86.00 target price on Schlumberger (NYSE:SLB) in a research report released on Wednesday, March 14th. The firm currently has a buy rating on the oil and gas company’s stock.

Several other equities research analysts have also recently issued reports on SLB. Susquehanna Bancshares set a $88.00 price objective on shares of Schlumberger and gave the stock a buy rating in a research report on Monday, January 22nd. ValuEngine cut shares of Schlumberger from a hold rating to a sell rating in a research report on Thursday, March 1st. Atlantic Securities upgraded shares of Schlumberger from a neutral rating to an overweight rating in a research report on Monday, January 22nd. Barclays set a $75.00 price target on shares of Schlumberger and gave the company a hold rating in a research report on Tuesday, January 23rd. Finally, Loop Capital reiterated a buy rating and set a $82.00 price target (up from $77.00) on shares of Schlumberger in a research report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. Schlumberger presently has a consensus rating of Buy and an average price target of $81.23.

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SLB opened at $64.36 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 0.40. The firm has a market cap of $89,692.70, a price-to-earnings ratio of 42.91, a P/E/G ratio of 5.11 and a beta of 1.05. Schlumberger has a 52-week low of $61.02 and a 52-week high of $80.89.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The firm had revenue of $8.18 billion for the quarter, compared to the consensus estimate of $8.12 billion. Schlumberger had a negative net margin of 4.94% and a positive return on equity of 5.27%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the firm posted $0.27 earnings per share. research analysts anticipate that Schlumberger will post 2.11 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Wednesday, February 7th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.11%. Schlumberger’s payout ratio is 133.33%.

In other Schlumberger news, CEO Paal Kibsgaard bought 10,000 shares of the business’s stock in a transaction dated Monday, March 26th. The shares were acquired at an average cost of $64.68 per share, with a total value of $646,800.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Mogharbel Khaled Al acquired 3,000 shares of the company’s stock in a transaction on Wednesday, March 28th. The stock was purchased at an average cost of $64.30 per share, for a total transaction of $192,900.00. Following the completion of the purchase, the insider now directly owns 30,482 shares in the company, valued at approximately $1,959,992.60. The disclosure for this purchase can be found here. Insiders bought a total of 18,000 shares of company stock worth $1,163,650 over the last ninety days. Corporate insiders own 0.48% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in SLB. Capital Analysts LLC grew its stake in shares of Schlumberger by 1.6% during the 2nd quarter. Capital Analysts LLC now owns 33,935 shares of the oil and gas company’s stock worth $2,234,000 after purchasing an additional 550 shares during the period. QCI Asset Management Inc. NY grew its stake in shares of Schlumberger by 3.6% during the 2nd quarter. QCI Asset Management Inc. NY now owns 182,583 shares of the oil and gas company’s stock worth $12,021,000 after purchasing an additional 6,367 shares during the period. IndexIQ Advisors LLC grew its stake in shares of Schlumberger by 26.6% during the 2nd quarter. IndexIQ Advisors LLC now owns 24,046 shares of the oil and gas company’s stock worth $1,584,000 after purchasing an additional 5,054 shares during the period. Motco grew its stake in shares of Schlumberger by 3.8% during the 2nd quarter. Motco now owns 46,810 shares of the oil and gas company’s stock worth $3,082,000 after purchasing an additional 1,723 shares during the period. Finally, Greenwood Capital Associates LLC grew its stake in shares of Schlumberger by 6.1% during the 2nd quarter. Greenwood Capital Associates LLC now owns 46,895 shares of the oil and gas company’s stock worth $3,087,000 after purchasing an additional 2,693 shares during the period. 79.90% of the stock is currently owned by institutional investors.

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About Schlumberger

Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.

Analyst Recommendations for Schlumberger (NYSE:SLB)

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