Schlumberger’s (SLB) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Schlumberger (NYSE:SLB)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $57.00 price target on the oil and gas company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 36.95% from the stock’s previous close.

A number of other brokerages have also recently issued reports on SLB. Barclays reduced their price objective on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Bank of America cut their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Susquehanna lowered their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. TD Cowen increased their target price on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Evercore ISI reissued an “in-line” rating and issued a $44.00 price target (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $41.62 on Tuesday. The stock’s fifty day moving average is $40.83 and its 200 day moving average is $42.80. Schlumberger has a one year low of $36.52 and a one year high of $55.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The stock has a market cap of $58.78 billion, a P/E ratio of 13.38, a P/E/G ratio of 3.61 and a beta of 1.52.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same period in the previous year, the firm earned $0.86 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts anticipate that Schlumberger will post 3.29 earnings per share for the current year.

Insider Activity

In other news, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the completion of the sale, the executive vice president now directly owns 184,626 shares in the company, valued at approximately $8,140,160.34. This trade represents a 40.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the transaction, the vice president now owns 11,240 shares in the company, valued at approximately $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,258 shares of company stock valued at $8,732,604. 0.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Schlumberger

A number of hedge funds have recently added to or reduced their stakes in the stock. ORG Partners LLC raised its stake in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Schlumberger during the 3rd quarter worth $29,000. Ashton Thomas Securities LLC bought a new stake in Schlumberger during the 3rd quarter valued at $37,000. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after buying an additional 876 shares during the period. Finally, J. Stern & Co. LLP purchased a new stake in shares of Schlumberger in the 3rd quarter worth $47,000. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.