Citigroup Inc. Increases Schlumberger NV (SLB) Price Target to $93.00
Schlumberger NV (NYSE:SLB) had its price objective lifted by analysts at Citigroup Inc. from $89.00 to $93.00 in a research report issued on Tuesday. The brokerage currently has a “buy” rating on the stock. Citigroup Inc.’s price objective would suggest a potential upside of 12.96% from the company’s previous close.
Several other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. restated a “buy” rating on shares of Schlumberger NV in a report on Thursday, June 30th. Goldman Sachs Group Inc. restated a “conviction-buy” rating on shares of Schlumberger NV in a report on Tuesday, July 5th. Guggenheim restated a “buy” rating on shares of Schlumberger NV in a report on Wednesday, August 31st. Jefferies Group restated a “hold” rating on shares of Schlumberger NV in a report on Thursday, June 30th. Finally, Stephens restated a “top pick” rating on shares of Schlumberger NV in a report on Friday, July 15th. Four equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Schlumberger NV presently has a consensus rating of “Buy” and an average price target of $90.69.
Shares of Schlumberger NV (NYSE:SLB) traded down 1.24% on Tuesday, hitting $81.31. The company had a trading volume of 2,497,106 shares. The company’s market cap is $113.08 billion. Schlumberger NV has a 12-month low of $59.60 and a 12-month high of $83.97. The company has a 50 day moving average of $78.68 and a 200-day moving average of $77.99.
Schlumberger NV (NYSE:SLB) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. Schlumberger NV had a negative net margin of 5.64% and a positive return on equity of 6.88%. The company had revenue of $7.16 billion for the quarter, compared to the consensus estimate of $7.09 billion. On average, analysts forecast that Schlumberger NV will post $1.12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Wednesday, September 7th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Friday, September 2nd. Schlumberger NV’s dividend payout ratio is currently -168.07%.
In other Schlumberger NV news, CFO Simon Ayat sold 50,000 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $83.68, for a total value of $4,184,000.00. Following the completion of the sale, the chief financial officer now owns 153,335 shares in the company, valued at $12,831,072.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Howard Guild sold 11,900 shares of the stock in a transaction on Monday, July 25th. The shares were sold at an average price of $81.32, for a total transaction of $967,708.00. Following the completion of the sale, the insider now owns 19,781 shares of the company’s stock, valued at approximately $1,608,590.92. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Invictus RG boosted its stake in Schlumberger NV by 379.2% in the second quarter. Invictus RG now owns 1,313 shares of the company’s stock worth $104,000 after buying an additional 1,039 shares in the last quarter. Roble Belko & Company Inc bought a new stake in Schlumberger NV during the second quarter worth about $108,000. Proficio Capital Partners LLC boosted its stake in Schlumberger NV by 78.3% in the second quarter. Proficio Capital Partners LLC now owns 1,426 shares of the company’s stock worth $113,000 after buying an additional 626 shares in the last quarter. J.Safra Asset Management Corp bought a new stake in Schlumberger NV during the second quarter worth about $114,000. Finally, New Harbor Financial Group LLC boosted its stake in Schlumberger NV by 50.0% in the second quarter. New Harbor Financial Group LLC now owns 1,500 shares of the company’s stock worth $118,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 78.39% of the company’s stock.
About Schlumberger NV
Schlumberger N.V. is a supplier of technology, integrated project management and information solutions to the international oil and gas exploration and production industry. The Company operates in the oilfield service markets through three groups: Reservoir Characterization, Drilling and Production. Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
Receive News & Stock Ratings for Schlumberger NV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger NV and related stocks with our FREE daily email newsletter.