Schlumberger NV (SLB) Upgraded at Jefferies Group
A number of other equities research analysts also recently issued reports on the stock. Guggenheim reiterated a buy rating on shares of Schlumberger NV in a research report on Wednesday, August 31st. JPMorgan Chase & Co. restated a buy rating on shares of Schlumberger NV in a research report on Friday, July 22nd. Citigroup Inc. lifted their price objective on Schlumberger NV from $89.00 to $93.00 and gave the stock a buy rating in a research report on Tuesday, October 11th. Scotiabank restated a sector outperform rating and set a $90.00 price objective (up from $80.00) on shares of Schlumberger NV in a research report on Tuesday, July 26th. Finally, Societe Generale upgraded Schlumberger NV from a hold rating to a buy rating and lifted their price objective for the stock from $86.00 to $91.00 in a research report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Schlumberger NV has a consensus rating of Buy and a consensus price target of $91.01.
Schlumberger NV (NYSE:SLB) opened at 80.10 on Tuesday. The company has a 50-day moving average price of $80.09 and a 200 day moving average price of $78.72. Schlumberger NV has a 12 month low of $59.60 and a 12 month high of $84.30. The stock’s market capitalization is $111.44 billion.
Schlumberger NV (NYSE:SLB) last posted its quarterly earnings results on Thursday, October 20th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.03. Schlumberger NV had a negative net margin of 8.78% and a positive return on equity of 5.06%. The company earned $7 billion during the quarter, compared to the consensus estimate of $7.24 billion. During the same period last year, the firm earned $0.78 EPS. The company’s revenue for the quarter was down 17.2% on a year-over-year basis. Equities analysts predict that Schlumberger NV will post $1.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Wednesday, December 7th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.50%. Schlumberger NV’s payout ratio is -108.70%.
In other Schlumberger NV news, Director Michael E. Marks sold 13,600 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $81.19, for a total value of $1,104,184.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tore I. Sandvold sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $78.09, for a total value of $195,225.00. Following the completion of the sale, the director now directly owns 17,750 shares of the company’s stock, valued at approximately $1,386,097.50. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Babson Capital Management LLC raised its stake in shares of Schlumberger NV by 166.7% in the first quarter. Babson Capital Management LLC now owns 27,359 shares of the company’s stock valued at $2,018,000 after buying an additional 17,100 shares in the last quarter. Eachwin Capital LP purchased a new stake in shares of Schlumberger NV during the first quarter valued at about $504,000. LPL Financial LLC raised its stake in shares of Schlumberger NV by 1.3% in the first quarter. LPL Financial LLC now owns 217,404 shares of the company’s stock valued at $15,797,000 after buying an additional 2,850 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Schlumberger NV by 6.5% in the first quarter. Jones Financial Companies Lllp now owns 82,495 shares of the company’s stock valued at $6,084,000 after buying an additional 5,060 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Schlumberger NV during the first quarter valued at about $2,745,000. 79.04% of the stock is owned by institutional investors and hedge funds.
Schlumberger NV Company Profile
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.
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