Schlumberger’s (SLB) Outperform Rating Reiterated at Royal Bank of Canada

Schlumberger (NYSE:SLB)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They currently have a $57.00 target price on the oil and gas company’s stock. Royal Bank of Canada’s price target points to a potential upside of 29.18% from the stock’s previous close.

A number of other brokerages also recently issued reports on SLB. Wells Fargo & Company lowered their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Evercore ISI reiterated an “in-line” rating and issued a $44.00 price target (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. BMO Capital Markets decreased their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Stifel Nicolaus cut their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.58.

Schlumberger Stock Up 1.3 %

Shares of Schlumberger stock traded up $0.55 during trading on Tuesday, hitting $44.13. The company’s stock had a trading volume of 10,933,173 shares, compared to its average volume of 13,591,785. Schlumberger has a 52 week low of $36.52 and a 52 week high of $55.69. The company has a fifty day simple moving average of $40.84 and a two-hundred day simple moving average of $42.81. The company has a market capitalization of $62.31 billion, a PE ratio of 14.18, a P/E/G ratio of 3.61 and a beta of 1.52. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same period in the previous year, the company earned $0.86 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts predict that Schlumberger will post 3.29 earnings per share for the current year.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Several institutional investors have recently made changes to their positions in SLB. ORG Partners LLC raised its stake in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after buying an additional 484 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Schlumberger in the 3rd quarter worth $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Schlumberger during the 3rd quarter worth $37,000. DiNuzzo Private Wealth Inc. boosted its position in Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP purchased a new stake in shares of Schlumberger during the third quarter valued at about $47,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

About Schlumberger

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.