Royal Bank of Canada Reaffirms Outperform Rating for Schlumberger (NYSE:SLB)

Schlumberger (NYSE:SLB)‘s stock had its “outperform” rating reaffirmed by research analysts at Royal Bank of Canada in a research note issued 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 points to a potential upside of 29.18% from the stock’s previous close.

Several other research analysts have also issued reports on SLB. BMO Capital Markets cut their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. JPMorgan Chase & Co. boosted their target price on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday. TD Cowen raised their price objective on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America cut their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $55.58.

Schlumberger Stock Up 1.3 %

NYSE SLB traded up $0.55 during trading hours on Tuesday, hitting $44.13. 10,933,173 shares of the company traded hands, compared to its average volume of 13,591,785. The business’s 50-day moving average is $40.84 and its 200-day moving average is $42.81. Schlumberger has a twelve month low of $36.52 and a twelve month high of $55.69. The stock has a market capitalization of $62.31 billion, a price-to-earnings 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 quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9,241,140 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS. Sell-side analysts anticipate that Schlumberger will post 3.29 earnings per share for the current year.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

A number of institutional investors have recently made changes to their positions in SLB. ORG Partners LLC grew its position in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Schlumberger in the third 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. boosted its position in Schlumberger by 1,068.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 876 shares during the period. Finally, J. Stern & Co. LLP bought a new stake in Schlumberger in the 3rd quarter worth $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.