Stifel Nicolaus Reiterates Buy Rating for Schlumberger (NYSE:SLB)

Schlumberger (NYSE:SLB)‘s stock had its “buy” rating reissued by research analysts at Stifel Nicolaus in a research note issued to investors on Monday, Benzinga reports. They currently have a $60.00 price objective on the oil and gas company’s stock, down from their prior price objective of $62.00. Stifel Nicolaus’ target price points to a potential upside of 43.08% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler cut their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Evercore ISI boosted their price objective on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Finally, Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.58.

Schlumberger Stock Down 1.2 %

Shares of NYSE:SLB opened at $41.94 on Monday. Schlumberger has a 52-week low of $38.66 and a 52-week high of $59.05. The stock has a market cap of $59.54 billion, a P/E ratio of 13.48, a PEG ratio of 1.27 and a beta of 1.51. The business has a fifty day moving average of $43.03 and a two-hundred day moving average of $45.78. 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 (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same period last year, the business earned $0.78 earnings per share. Schlumberger’s revenue was up 10.2% compared to the same quarter last year. On average, research analysts expect that Schlumberger will post 3.44 earnings per share for the current year.

Institutional Trading of Schlumberger

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ORG Partners LLC increased its holdings in shares of Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares during the period. Register Financial Advisors LLC acquired a new position in shares of Schlumberger during the first quarter worth about $27,000. Bruce G. Allen Investments LLC raised its holdings in Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares in the last quarter. Unique Wealth Strategies LLC acquired a new stake in Schlumberger in the second quarter valued at about $30,000. Finally, Manchester Capital Management LLC boosted its holdings in Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Company Profile

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.