Schlumberger’s (NYSE:SLB) Buy Rating Reaffirmed at Cowen

Schlumberger (NYSE:SLB)‘s stock had its “buy” rating restated by equities researchers at Cowen in a report released on Thursday, March 15th. They currently have a $81.00 target price on the oil and gas company’s stock. Cowen’s price objective indicates a potential upside of 25.85% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Piper Jaffray increased their price target on shares of Schlumberger from $74.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. ValuEngine downgraded shares of Schlumberger from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Barclays set a $75.00 price target on shares of Schlumberger and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. Zacks Investment Research downgraded shares of Schlumberger from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $85.00 price target on shares of Schlumberger in a research report on Sunday, January 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $81.23.

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Schlumberger stock traded down $1.41 during midday trading on Thursday, reaching $64.36. 7,515,858 shares of the company traded hands, compared to its average volume of 6,744,343. The company has a market cap of $91,021.27, a price-to-earnings ratio of 42.91, a price-to-earnings-growth ratio of 5.19 and a beta of 1.05. Schlumberger has a 12 month low of $61.02 and a 12 month high of $80.89. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 0.40.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, January 19th. The oil and gas company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.04. The company 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 firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 earnings per share. sell-side analysts expect that Schlumberger will post 2.11 EPS for the current fiscal year.

In related news, insider Mogharbel Khaled Al acquired 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 28th. The stock was bought 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 of the company’s stock, valued at approximately $1,959,992.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paal Kibsgaard acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 26th. The shares were bought at an average price of $64.68 per share, with a total value of $646,800.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 18,000 shares of company stock valued at $1,163,650. 0.48% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Harding Loevner LP raised its holdings 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 purchasing an additional 129,289,552 shares in the last quarter. Dodge & Cox raised its holdings 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 purchasing an additional 5,494,165 shares in the last quarter. Capital International Investors raised its holdings in shares of Schlumberger by 74.8% in the 3rd quarter. Capital International Investors now owns 10,031,514 shares of the oil and gas company’s stock valued at $699,798,000 after purchasing an additional 4,294,058 shares in the last quarter. Vanguard Group Inc. raised its holdings 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 purchasing an additional 2,790,227 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Schlumberger by 25.6% in the 4th quarter. Franklin Resources Inc. now owns 13,240,530 shares of the oil and gas company’s stock valued at $892,278,000 after purchasing an additional 2,696,580 shares in the last quarter. Institutional investors own 79.90% of the company’s stock.

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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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