Scotiabank Reiterates “$80.00” Price Target for Schlumberger N.V. (SLB)
A number of other research firms also recently commented on SLB. Jefferies Group LLC reissued a buy rating and issued a $80.00 price objective on shares of Schlumberger N.V. in a research note on Friday, September 29th. BidaskClub raised Schlumberger N.V. from a strong sell rating to a sell rating in a research note on Wednesday, August 2nd. Citigroup Inc. boosted their price objective on Schlumberger N.V. from $77.00 to $80.00 and gave the stock a buy rating in a research note on Thursday, October 5th. Cowen and Company set a $80.00 price objective on Schlumberger N.V. and gave the stock a buy rating in a research note on Friday, October 6th. Finally, Royal Bank Of Canada set a $86.00 price objective on Schlumberger N.V. and gave the stock a buy rating in a research note on Saturday, October 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $80.54.
Shares of Schlumberger N.V. (SLB) opened at 61.91 on Friday. Schlumberger N.V. has a 52 week low of $61.40 and a 52 week high of $87.84. The firm has a 50-day moving average price of $67.27 and a 200-day moving average price of $68.40. The stock has a market cap of $85.72 billion, a PE ratio of 487.48 and a beta of 1.05.
Schlumberger N.V. (NYSE:SLB) last announced its earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $7.91 billion. Schlumberger N.V. had a return on equity of 3.80% and a net margin of 0.62%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. On average, analysts forecast that Schlumberger N.V. will post $1.51 earnings per share for the current fiscal year.
In other news, Director Michael E. Marks bought 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, for a total transaction of $513,600.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.38% of the company’s stock.
Several large investors have recently made changes to their positions in SLB. CGOV Asset Management lifted its position in shares of Schlumberger N.V. by 27.1% in the first quarter. CGOV Asset Management now owns 41,300 shares of the oil and gas company’s stock worth $4,297,000 after buying an additional 8,800 shares during the last quarter. Waldron LP lifted its position in shares of Schlumberger N.V. by 76.5% in the first quarter. Waldron LP now owns 7,270 shares of the oil and gas company’s stock worth $568,000 after buying an additional 3,150 shares during the last quarter. Miller Howard Investments Inc. NY lifted its position in shares of Schlumberger N.V. by 0.4% in the first quarter. Miller Howard Investments Inc. NY now owns 67,237 shares of the oil and gas company’s stock worth $5,251,000 after buying an additional 263 shares during the last quarter. Financial Architects Inc lifted its position in shares of Schlumberger N.V. by 12.8% in the first quarter. Financial Architects Inc now owns 5,368 shares of the oil and gas company’s stock worth $419,000 after buying an additional 609 shares during the last quarter. Finally, Braun Stacey Associates Inc. lifted its position in shares of Schlumberger N.V. by 9.0% in the first quarter. Braun Stacey Associates Inc. now owns 40,990 shares of the oil and gas company’s stock worth $3,201,000 after buying an additional 3,375 shares during the last quarter. 78.85% of the stock is owned by 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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