Schlumberger (NYSE:SLB) Now Covered by Dbs Bank

Research analysts at Dbs Bank began coverage on shares of Schlumberger (NYSE:SLB) in a research report issued on Wednesday, Benzinga reports. The brokerage set a “buy” rating and a $64.50 price target on the oil and gas company’s stock. Dbs Bank’s price objective suggests a potential upside of 55.80% from the stock’s current price.

A number of other research firms also recently weighed in on SLB. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. UBS Group decreased their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley decreased their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday. Susquehanna decreased their target price on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, July 11th. Finally, Bank of America decreased their price objective on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $66.29.

Schlumberger Stock Down 0.2 %

Shares of SLB stock traded down $0.10 during trading hours on Wednesday, hitting $41.40. 4,088,954 shares of the company were exchanged, compared to its average volume of 10,773,278. The business has a 50 day moving average of $44.71 and a two-hundred day moving average of $47.52. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Schlumberger has a 52 week low of $38.66 and a 52 week high of $61.70. The company has a market capitalization of $59.17 billion, a PE ratio of 13.75, a PEG ratio of 0.85 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 earnings per share. Analysts anticipate that Schlumberger will post 3.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The disclosure for this sale can be found here. Insiders have sold a total of 180,716 shares of company stock valued at $9,048,624 in the last ninety days. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Schlumberger

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. increased its position in shares of Schlumberger by 379.4% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,402 shares of the oil and gas company’s stock worth $113,000 after buying an additional 1,901 shares during the period. SS&H Financial Advisors Inc. increased its position in shares of Schlumberger by 279.8% during the second quarter. SS&H Financial Advisors Inc. now owns 32,441 shares of the oil and gas company’s stock worth $1,531,000 after buying an additional 23,900 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Schlumberger during the second quarter worth $15,603,000. Brown Financial Advisors acquired a new stake in shares of Schlumberger during the second quarter worth $788,000. Finally, New Century Financial Group LLC acquired a new stake in shares of Schlumberger during the second quarter worth $1,043,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.