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.
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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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.
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