Schlumberger N.V. (SLB) Receives “Buy” Rating from BMO Capital Markets
Schlumberger N.V. (NYSE:SLB)‘s stock had its “buy” rating reaffirmed by investment analysts at BMO Capital Markets in a report released on Wednesday. They currently have a $74.00 target price on the oil and gas company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 13.67% from the stock’s current price.
Several other equities analysts have also recently commented on SLB. Bank of America Corporation cut their target price on shares of Schlumberger N.V. from $70.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, May 30th. UBS AG set a $90.00 target price on shares of Schlumberger N.V. and gave the company a “buy” rating in a research note on Friday, June 16th. Barclays PLC cut shares of Schlumberger N.V. from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $98.00 to $73.00 in a research note on Wednesday, June 21st. Morgan Stanley upped their target price on shares of Schlumberger N.V. from $90.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 21st. Finally, HSBC Holdings plc reiterated a “neutral” rating and set a $80.00 target price (down from $86.00) on shares of Schlumberger N.V. in a research note on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $86.21.
Shares of Schlumberger N.V. (NYSE:SLB) traded up 0.95% on Wednesday, reaching $65.72. 6,721,513 shares of the company’s stock traded hands. The firm has a market capitalization of $90.99 billion, a P/E ratio of 517.48 and a beta of 1.03. Schlumberger N.V. has a 52 week low of $62.56 and a 52 week high of $87.84. The company’s 50-day moving average is $65.38 and its 200-day moving average is $71.26.
Schlumberger N.V. (NYSE:SLB) last released its earnings results on Friday, July 21st. The oil and gas company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The firm had revenue of $7.46 billion during the quarter, compared to analysts’ expectations of $7.25 billion. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 EPS. Equities research analysts anticipate that Schlumberger N.V. will post $1.51 earnings per share for the current fiscal year.
In other Schlumberger N.V. news, Director Helge Lund bought 2,800 shares of the business’s stock in a transaction on Monday, July 24th. The shares were bought at an average cost of $66.78 per share, for a total transaction of $186,984.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Aaron Gatt Floridia sold 40,000 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $69.17, for a total transaction of $2,766,800.00. Following the transaction, the president now owns 96,175 shares in the company, valued at $6,652,424.75. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in SLB. First Eagle Investment Management LLC lifted its position in Schlumberger N.V. by 103.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 16,025,764 shares of the oil and gas company’s stock valued at $1,055,136,000 after purchasing an additional 8,167,945 shares during the period. Dodge & Cox lifted its position in Schlumberger N.V. by 12.8% during the 2nd quarter. Dodge & Cox now owns 48,271,463 shares of the oil and gas company’s stock valued at $3,178,193,000 after purchasing an additional 5,494,165 shares during the period. American Century Companies Inc. lifted its position in Schlumberger N.V. by 33.5% during the 2nd quarter. American Century Companies Inc. now owns 11,117,713 shares of the oil and gas company’s stock valued at $731,990,000 after purchasing an additional 2,791,675 shares during the period. Vanguard Group Inc. lifted its position in Schlumberger N.V. by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 99,022,940 shares of the oil and gas company’s stock valued at $6,519,670,000 after purchasing an additional 2,790,227 shares during the period. Finally, Capital Research Global Investors lifted its position in Schlumberger N.V. by 13.8% during the 2nd quarter. Capital Research Global Investors now owns 16,460,016 shares of the oil and gas company’s stock valued at $1,083,727,000 after purchasing an additional 1,993,829 shares during the period. Institutional investors own 78.99% of the company’s stock.
About Schlumberger N.V.
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.
Receive News & Stock Ratings for Schlumberger N.V. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger N.V. and related stocks with our FREE daily email newsletter.