Schlumberger N.V. (SLB) Given a $86.00 Price Target by Royal Bank Of Canada Analysts
Royal Bank Of Canada set a $86.00 price objective on Schlumberger N.V. (NYSE:SLB) in a research report report published on Saturday. The brokerage currently has a buy rating on the oil and gas company’s stock.
SLB has been the subject of a number of other reports. Sanford C. Bernstein reissued an outperform rating and issued a $80.00 price target on shares of Schlumberger N.V. in a research report on Wednesday, September 6th. Morgan Stanley increased their price target on Schlumberger N.V. from $90.00 to $110.00 and gave the company an equal weight rating in a research report on Wednesday, June 21st. Jefferies Group LLC set a $80.00 price target on Schlumberger N.V. and gave the company a buy rating in a research report on Friday, August 25th. Zacks Investment Research downgraded Schlumberger N.V. from a hold rating to a sell rating in a research note on Wednesday, July 12th. Finally, Scotiabank set a $90.00 price objective on Schlumberger N.V. and gave the company a buy rating in a research note on Friday, July 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $83.84.
Schlumberger N.V. (NYSE:SLB) traded down 0.77% during trading on Friday, hitting $68.34. 5,717,424 shares of the company traded hands. The firm has a market capitalization of $94.62 billion, a P/E ratio of 538.11 and a beta of 1.05. Schlumberger N.V. has a 12-month low of $62.56 and a 12-month high of $87.84. The stock has a 50-day moving average price of $66.39 and a 200-day moving average price of $69.47.
Schlumberger N.V. (NYSE:SLB) last released its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The business had revenue of $7.46 billion during the quarter, compared to analyst estimates of $7.25 billion. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. Schlumberger N.V.’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 EPS. Equities analysts expect that Schlumberger N.V. will post $1.52 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Wednesday, September 6th will be issued a $0.50 dividend. The ex-dividend date is Friday, September 1st. This represents a $2.00 annualized dividend and a dividend yield of 2.93%. Schlumberger N.V.’s payout ratio is currently 1,538.58%.
In other Schlumberger N.V. news, Director Michael E. Marks purchased 8,000 shares of the stock in a transaction on Friday, August 11th. The shares were purchased at an average price of $64.20 per share, with a total value of $513,600.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Helge Lund purchased 2,800 shares of the stock in a transaction on Monday, July 24th. The stock was acquired at an average cost of $66.78 per share, for a total transaction of $186,984.00. The disclosure for this purchase can be found here. Company insiders own 0.38% of the company’s stock.
Several large investors have recently added to or reduced their stakes in SLB. First Eagle Investment Management LLC raised its holdings in shares of Schlumberger N.V. by 103.9% in 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 acquiring an additional 8,167,945 shares in the last quarter. Dodge & Cox raised its holdings in shares of Schlumberger N.V. by 12.8% in 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 acquiring an additional 5,494,165 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Schlumberger N.V. by 33.5% in 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 acquiring an additional 2,791,675 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Schlumberger N.V. by 2.9% in 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 acquiring an additional 2,790,227 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Schlumberger N.V. by 13.8% in 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 acquiring an additional 1,993,829 shares in the last quarter. 78.91% of the stock is currently owned by hedge funds and other institutional investors.
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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