Schlumberger (SLB) Upgraded by SunTrust Banks to Buy

SunTrust Banks upgraded shares of Schlumberger (NYSE:SLB) from a hold rating to a buy rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. SunTrust Banks also issued estimates for Schlumberger’s Q1 2018 earnings at $0.35 EPS, Q2 2018 earnings at $0.43 EPS, Q3 2018 earnings at $0.54 EPS, Q4 2018 earnings at $0.65 EPS, FY2018 earnings at $1.98 EPS, Q1 2019 earnings at $0.63 EPS, Q2 2019 earnings at $0.73 EPS, Q3 2019 earnings at $0.88 EPS, Q4 2019 earnings at $1.01 EPS and FY2019 earnings at $3.25 EPS. The analysts noted that the move was a valuation call.

SLB has been the subject of a number of other research reports. Royal Bank of Canada set a $73.00 price objective on shares of Schlumberger and gave the company a buy rating in a research note on Thursday, December 21st. Barclays set a $70.00 price objective on shares of Schlumberger and gave the company a hold rating in a research note on Saturday, March 24th. UBS set a $95.00 price objective on shares of Schlumberger and gave the company a buy rating in a research note on Monday, January 22nd. Zacks Investment Research downgraded shares of Schlumberger from a hold rating to a sell rating in a research note on Tuesday, January 23rd. Finally, ValuEngine downgraded shares of Schlumberger from a hold rating to a sell rating in a research note on Sunday, December 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $81.23.

How to Become a New Pot Stock Millionaire

Shares of SLB stock opened at $64.36 on Tuesday. Schlumberger has a twelve month low of $61.02 and a twelve month high of $80.89. The stock has a market capitalization of $91,021.27, a P/E ratio of 42.91, a PEG ratio of 5.19 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.95.

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

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

In related news, insider Mogharbel Khaled Al purchased 3,000 shares of the firm’s stock in a transaction on Wednesday, March 28th. The stock was purchased at an average price of $64.30 per share, for a total transaction of $192,900.00. Following the acquisition, the insider now directly owns 30,482 shares in the company, valued at $1,959,992.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Howard Guild sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $78.26, for a total value of $1,956,500.00. Following the completion of the transaction, the insider now owns 22,410 shares of the company’s stock, valued at approximately $1,753,806.60. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 18,000 shares of company stock valued at $1,163,650. 0.48% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harding Loevner LP boosted its holdings in 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 worth $569,035,000 after acquiring an additional 129,289,552 shares during the period. Vanguard Group Inc. boosted its stake in shares of Schlumberger by 2.9% during 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 buying an additional 2,790,227 shares during the last quarter. Dodge & Cox boosted its stake in shares of Schlumberger by 12.8% during 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 buying an additional 5,494,165 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Schlumberger by 6.8% during 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 buying an additional 1,733,171 shares during the last quarter. Finally, Northern Cross LLC boosted its stake in shares of Schlumberger by 15.3% during 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 buying an additional 2,637,527 shares during the last quarter. Hedge funds and other institutional investors own 79.90% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Schlumberger (SLB) Upgraded by SunTrust Banks to Buy” was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this article on another website, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The legal version of this article can be accessed at https://www.dispatchtribunal.com/2018/04/07/schlumberger-slb-upgraded-by-suntrust-banks-to-buy.html.

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)

Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply