Schlumberger N.V. (SLB) Given “Buy” Rating at Jefferies Group LLC
Jefferies Group LLC reaffirmed their buy rating on shares of Schlumberger N.V. (NYSE:SLB) in a report published on Friday morning. The brokerage currently has a $80.00 target price on the oil and gas company’s stock.
A number of other equities research analysts also recently issued reports on SLB. UBS AG set a $90.00 price target on shares of Schlumberger N.V. and gave the stock a buy rating in a report on Friday, June 16th. Barclays PLC downgraded shares of Schlumberger N.V. from an overweight rating to an equal weight rating and lowered their price target for the stock from $98.00 to $73.00 in a report on Wednesday, June 21st. Morgan Stanley increased their price target on shares of Schlumberger N.V. from $90.00 to $110.00 and gave the stock an equal weight rating in a report on Wednesday, June 21st. HSBC Holdings plc reissued a neutral rating and issued a $80.00 price target (down from $86.00) on shares of Schlumberger N.V. in a report on Wednesday, June 21st. Finally, BMO Capital Markets reissued a buy rating and issued a $89.00 price target on shares of Schlumberger N.V. in a report on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have given 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 price target of $85.80.
Shares of Schlumberger N.V. (NYSE:SLB) traded up 0.87% during midday trading on Friday, reaching $69.76. 6,559,138 shares of the company were exchanged. Schlumberger N.V. has a 12-month low of $62.56 and a 12-month high of $87.84. The company has a 50 day moving average price of $65.20 and a 200-day moving average price of $70.30. The stock has a market capitalization of $96.58 billion, a P/E ratio of 549.29 and a beta of 1.03.
Schlumberger N.V. (NYSE:SLB) last announced its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7.46 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the prior year, the firm posted $0.23 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts forecast that Schlumberger N.V. will post $1.53 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Wednesday, September 6th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Friday, September 1st. Schlumberger N.V.’s dividend payout ratio is 1,538.58%.
In other news, Director Michael E. Marks bought 8,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average price of $64.20 per share, for a total transaction of $513,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Helge Lund bought 2,800 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was purchased at an average price of $66.78 per share, for a total transaction of $186,984.00. The disclosure for this purchase can be found here. 0.38% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of SLB. First Eagle Investment Management LLC grew its holdings in shares of Schlumberger N.V. by 103.9% in the second quarter. First Eagle Investment Management LLC now owns 16,025,764 shares of the oil and gas company’s stock worth $1,055,136,000 after purchasing an additional 8,167,945 shares during the last quarter. Dodge & Cox grew its holdings 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 last quarter. American Century Companies Inc. grew its holdings in shares of Schlumberger N.V. by 33.5% in the second quarter. American Century Companies Inc. now owns 11,117,713 shares of the oil and gas company’s stock worth $731,990,000 after purchasing an additional 2,791,675 shares during the last quarter. Vanguard Group Inc. grew its holdings 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 last quarter. Finally, Capital Research Global Investors grew its holdings in shares of Schlumberger N.V. by 13.8% in the second quarter. Capital Research Global Investors now owns 16,460,016 shares of the oil and gas company’s stock worth $1,083,727,000 after purchasing an additional 1,993,829 shares during the last quarter. Hedge funds and other institutional investors own 78.90% 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.
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