Schlumberger (NYSE:SLB – Get Free Report) had its price objective upped by equities research analysts at TD Cowen from $53.00 to $55.00 in a report issued on Tuesday, Marketbeat reports. The firm currently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s target price suggests a potential upside of 32.14% from the company’s current price.
A number of other analysts also recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a report on Thursday, October 3rd. Bank of America cut their target price 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 decreased their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Wells Fargo & Company dropped their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Finally, Barclays decreased their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $55.81.
Schlumberger Price Performance
Schlumberger (NYSE:SLB – Get Free Report) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping 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 company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same quarter last year, the business earned $0.86 earnings per share. Schlumberger’s revenue was up 3.3% on a year-over-year basis. As a group, research analysts expect that Schlumberger will post 3.29 EPS for the current fiscal year.
Insider Buying and Selling at Schlumberger
In related news, insider Dianne B. Ralston sold 43,161 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the sale, the insider now owns 235,024 shares of the company’s stock, valued at $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the transaction, the vice president now directly owns 11,240 shares in the company, valued at approximately $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 198,258 shares of company stock valued at $8,732,604. 0.26% of the stock is currently owned by company insiders.
Institutional Trading of Schlumberger
Hedge funds have recently modified their holdings of the stock. Grove Bank & Trust grew its holdings in Schlumberger by 17.4% in the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after purchasing an additional 224 shares during the period. M&R Capital Management Inc. boosted its position in shares of Schlumberger by 1.7% during the 3rd quarter. M&R Capital Management Inc. now owns 14,817 shares of the oil and gas company’s stock worth $622,000 after purchasing an additional 241 shares in the last quarter. CX Institutional grew its stake in shares of Schlumberger by 2.4% in the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock valued at $398,000 after buying an additional 244 shares during the period. GM Advisory Group LLC increased its position in Schlumberger by 3.8% in the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock valued at $281,000 after buying an additional 247 shares in the last quarter. Finally, Cordatus Wealth Management LLC raised its stake in Schlumberger by 2.1% during the 3rd quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock worth $561,000 after buying an additional 281 shares during the period. Institutional investors own 81.99% of the company’s stock.
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.
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