Schlumberger (NYSE:SLB) had its target price decreased by equities research analysts at Royal Bank of Canada to $51.00 in a research note issued on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the oil and gas company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 31.48% from the company’s previous close.
Several other research firms have also issued reports on SLB. Stifel Nicolaus set a $50.00 price target on shares of Schlumberger and gave the stock a “hold” rating in a research report on Monday, April 22nd. BMO Capital Markets set a $44.00 price target on shares of Schlumberger and gave the stock a “hold” rating in a research report on Monday, April 22nd. Morgan Stanley set a $51.00 price target on shares of Schlumberger and gave the stock a “hold” rating in a research report on Monday, April 22nd. SunTrust Banks upped their price target on shares of Schlumberger to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Finally, Barclays dropped their price target on shares of Schlumberger from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $57.16.
Shares of SLB stock traded down $0.21 during trading on Wednesday, reaching $38.79. The company’s stock had a trading volume of 219,096 shares, compared to its average volume of 9,583,258. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.45. The firm has a market cap of $52.86 billion, a PE ratio of 23.94, a P/E/G ratio of 1.58 and a beta of 1.31. Schlumberger has a one year low of $34.99 and a one year high of $75.43.
Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Thursday, April 18th. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. Schlumberger had a net margin of 6.19% and a return on equity of 5.87%. The firm had revenue of $7.88 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same period in the prior year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that Schlumberger will post 1.57 earnings per share for the current fiscal year.
In related news, CFO Simon Ayat sold 25,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $46.10, for a total value of $1,152,500.00. Following the transaction, the chief financial officer now directly owns 255,971 shares in the company, valued at $11,800,263.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander C. Juden sold 8,643 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $43.29, for a total transaction of $374,155.47. Following the completion of the transaction, the insider now owns 70,260 shares in the company, valued at $3,041,555.40. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in SLB. Ellis Investment Partners LLC bought a new stake in Schlumberger during the first quarter worth about $26,000. CX Institutional lifted its holdings in shares of Schlumberger by 158.4% in the first quarter. CX Institutional now owns 646 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 396 shares during the last quarter. Berman Capital Advisors LLC bought a new position in shares of Schlumberger in the fourth quarter worth about $31,000. Bruderman Asset Management LLC bought a new position in shares of Schlumberger in the fourth quarter worth about $33,000. Finally, Alera Investment Advisors LLC lifted its holdings in shares of Schlumberger by 65.8% in the first quarter. Alera Investment Advisors LLC now owns 806 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 320 shares during the last quarter. Institutional investors and hedge funds own 79.29% of the company’s stock.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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