Schlumberger N.V.’s (SLB) Outperform Rating Reaffirmed at Sanford C. Bernstein
Sanford C. Bernstein reiterated their outperform rating on shares of Schlumberger N.V. (NYSE:SLB) in a research report released on Wednesday. They currently have a $80.00 price target on the oil and gas company’s stock.
Other equities analysts have also recently issued reports about the company. Scotiabank set a $90.00 target price on Schlumberger N.V. and gave the stock a buy rating in a report on Friday, July 7th. Jefferies Group LLC restated a buy rating and issued a $92.00 target price on shares of Schlumberger N.V. in a report on Friday, June 30th. BMO Capital Markets restated a buy rating and issued a $89.00 target price on shares of Schlumberger N.V. in a report on Thursday, June 22nd. UBS AG set a $90.00 target price on Schlumberger N.V. and gave the stock a buy rating in a report on Friday, June 16th. Finally, Credit Suisse Group set a $78.00 target price on Schlumberger N.V. and gave the stock a buy rating in a report on Monday, July 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $86.21.
Shares of Schlumberger N.V. (SLB) opened at 65.72 on Wednesday. The stock has a market cap of $90.99 billion, a PE ratio of 517.48 and a beta of 1.03. The firm has a 50-day moving average price of $65.36 and a 200-day moving average price of $71.22. Schlumberger N.V. has a 52 week low of $62.56 and a 52 week high of $87.84.
Schlumberger N.V. (NYSE:SLB) last issued its earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.05. The business had revenue of $7.46 billion for the quarter, compared to analysts’ expectations of $7.25 billion. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS. On average, analysts forecast that Schlumberger N.V. will post $1.51 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Wednesday, September 6th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.04%. Schlumberger N.V.’s dividend payout ratio is currently 1,538.58%.
In related news, Director Michael E. Marks purchased 8,000 shares of Schlumberger N.V. stock in a transaction on Friday, August 11th. The stock was bought at an average price of $64.20 per share, with a total value of $513,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Aaron Gatt Floridia sold 40,000 shares of the business’s stock in a transaction dated 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 approximately $6,652,424.75. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Schlumberger N.V. by 2.9% in the second quarter. Vanguard Group Inc. now owns 99,022,940 shares of the oil and gas company’s stock worth $6,519,670,000 after purchasing an additional 2,790,227 shares during the period. State Street Corp increased its stake in shares of Schlumberger N.V. by 1.1% in the first quarter. State Street Corp now owns 72,400,230 shares of the oil and gas company’s stock worth $5,655,994,000 after purchasing an additional 769,874 shares during the period. Dodge & Cox increased its stake in shares of Schlumberger N.V. by 12.8% in the second quarter. Dodge & Cox now owns 48,271,463 shares of the oil and gas company’s stock worth $3,178,193,000 after purchasing an additional 5,494,165 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Schlumberger N.V. by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 26,666,760 shares of the oil and gas company’s stock worth $2,082,673,000 after purchasing an additional 477,006 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Schlumberger N.V. by 2.9% in the second quarter. Northern Trust Corp now owns 18,762,468 shares of the oil and gas company’s stock worth $1,235,321,000 after purchasing an additional 536,928 shares during the period. Institutional investors and hedge funds own 78.99% of the company’s stock.
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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