Schlumberger (NYSE:SLB) Now Covered by Dbs Bank

Dbs Bank started coverage on shares of Schlumberger (NYSE:SLB) in a research note issued on Wednesday, Benzinga reports. The firm set a “buy” rating and a $64.50 price target on the oil and gas company’s stock. Dbs Bank’s price target would indicate a potential upside of 55.80% from the company’s current price.

A number of other research firms have also weighed in on SLB. Morgan Stanley cut their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday. Piper Sandler cut their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Benchmark reaffirmed a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. TD Cowen upped their price objective on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Bank of America cut their price objective on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.29.

Schlumberger Stock Down 0.2 %

Shares of Schlumberger stock traded down $0.10 on Wednesday, hitting $41.40. 4,088,954 shares of the company traded hands, compared to its average volume of 10,773,278. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Schlumberger has a 12-month low of $38.66 and a 12-month high of $61.70. The company has a 50-day moving average price of $44.71 and a 200 day moving average price of $47.52. The company has a market cap of $59.17 billion, a PE ratio of 13.75, a PEG ratio of 0.85 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. The business had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. Schlumberger’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 EPS. Sell-side analysts predict that Schlumberger will post 3.49 earnings per share for the current year.

Insider Transactions at Schlumberger

In other news, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the transaction, the chief financial officer now directly owns 203,076 shares in the company, valued at $10,141,615.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,716 shares of company stock worth $9,048,624. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Several large investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. raised its holdings in Schlumberger by 379.4% in the second quarter. Newbridge Financial Services Group Inc. now owns 2,402 shares of the oil and gas company’s stock worth $113,000 after purchasing an additional 1,901 shares during the period. SS&H Financial Advisors Inc. raised its holdings in Schlumberger by 279.8% in the second quarter. SS&H Financial Advisors Inc. now owns 32,441 shares of the oil and gas company’s stock worth $1,531,000 after purchasing an additional 23,900 shares during the period. Sanctuary Advisors LLC acquired a new stake in Schlumberger in the second quarter worth $15,603,000. Brown Financial Advisors acquired a new stake in Schlumberger in the second quarter worth $788,000. Finally, New Century Financial Group LLC acquired a new stake in Schlumberger in the second quarter worth $1,043,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

About Schlumberger

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.