Schlumberger’s (SLB) Outperform Rating Reiterated 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 note issued to investors on Thursday, Benzinga reports. They currently have a $69.00 target price on the oil and gas company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 55.62% from the company’s current price.

A number of other equities analysts have also commented on the company. Susquehanna dropped their price objective on Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research note on Thursday, July 11th. Dbs Bank started coverage on Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective on the stock. UBS Group dropped their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. dropped their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $65.29.

Schlumberger Stock Up 0.9 %

NYSE SLB traded up $0.40 during trading on Thursday, hitting $44.34. 3,840,450 shares of the company traded hands, compared to its average volume of 11,022,916. Schlumberger has a 12 month low of $38.66 and a 12 month high of $61.20. The business has a fifty day simple moving average of $43.48 and a 200 day simple moving average of $46.87. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $62.96 billion, a P/E ratio of 14.73, a PEG ratio of 0.90 and a beta of 1.51.

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

Insider Buying and Selling

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the sale, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock worth $9,048,624 in the last quarter. Insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Large investors have recently made changes to their positions in the company. Crescent Grove Advisors LLC acquired a new position in Schlumberger in the 2nd quarter worth $257,000. National Bank of Canada FI boosted its stake in Schlumberger by 15.0% in the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after purchasing an additional 51,637 shares during the period. Mission Wealth Management LP acquired a new position in Schlumberger in the 1st quarter worth $245,000. Public Sector Pension Investment Board boosted its stake in Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after purchasing an additional 11,813 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in Schlumberger by 9.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after purchasing an additional 64,974 shares during the period. 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.