Schlumberger N.V. (NYSE:SLB) Given a $90.00 Price Target by Scotiabank Analysts
Schlumberger N.V. (NYSE:SLB) has been assigned a $90.00 price target by investment analysts at Scotiabank in a research note issued to investors on Friday, July 7th. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Scotiabank’s price objective would suggest a potential upside of 35.24% from the stock’s current price.
SLB has been the subject of a number of other reports. Stephens reiterated an “overweight” rating and issued a $89.00 target price on shares of Schlumberger N.V. in a research note on Monday, March 27th. Jefferies Group LLC reiterated an “equal weight” rating on shares of Schlumberger N.V. in a research note on Friday, April 14th. Cowen and Company reiterated an “outperform” rating and issued a $99.00 target price on shares of Schlumberger N.V. in a research note on Tuesday, April 25th. Vetr upgraded shares of Schlumberger N.V. from a “buy” rating to a “strong-buy” rating and set a $91.00 target price for the company in a research note on Thursday, April 20th. Finally, Iberia Capital cut shares of Schlumberger N.V. from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $100.00 to $77.00 in a research note on Thursday, June 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $86.40.
Schlumberger N.V. (SLB) traded down 1.47% during midday trading on Friday, reaching $66.55. 5,756,523 shares of the company’s stock traded hands. The firm has a market cap of $92.14 billion, a PE ratio of 524.02 and a beta of 1.02. The firm’s 50-day moving average is $66.69 and its 200 day moving average is $74.58. Schlumberger N.V. has a 52-week low of $64.15 and a 52-week high of $87.84.
Schlumberger N.V. (NYSE:SLB) last released its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The business had revenue of $7.46 billion for the quarter, compared to analysts’ expectations of $7.25 billion. During the same period last year, the business earned $0.23 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. Equities research analysts expect that Schlumberger N.V. will post $1.51 earnings per share for the current fiscal year.
In other news, President Aaron Gatt Floridia sold 40,000 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $69.17, for a total value of $2,766,800.00. Following the completion of the sale, the president now directly owns 96,175 shares of the company’s stock, valued at $6,652,424.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Helge Lund acquired 2,800 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was purchased at an average cost of $66.78 per share, with a total value of $186,984.00. The disclosure for this purchase can be found here. 0.38% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. Shelton Capital Management increased its stake in shares of Schlumberger N.V. by 17.8% in the fourth quarter. Shelton Capital Management now owns 83,650 shares of the oil and gas company’s stock valued at $7,022,000 after buying an additional 12,655 shares in the last quarter. National Pension Service boosted its position in Schlumberger N.V. by 4.5% in the first quarter. National Pension Service now owns 964,626 shares of the oil and gas company’s stock valued at $75,086,000 after buying an additional 41,903 shares during the last quarter. Rathbone Brothers plc boosted its position in shares of Schlumberger N.V. by 1.2% in the first quarter. Rathbone Brothers plc now owns 126,286 shares of the oil and gas company’s stock worth $9,863,000 after buying an additional 1,537 shares in the last quarter. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Schlumberger N.V. during the fourth quarter worth $160,000. Finally, First United Bank Trust boosted its position in shares of Schlumberger N.V. by 9.8% in the first quarter. First United Bank Trust now owns 13,135 shares of the oil and gas company’s stock worth $1,026,000 after buying an additional 1,175 shares in the last quarter. 79.14% of the stock is owned by hedge funds and other institutional investors.
Schlumberger N.V. Company Profile
Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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