Schlumberger (NYSE:SLB) Stock Rating Reaffirmed by Royal Bank of Canada

Schlumberger (NYSE:SLB)‘s stock had its “outperform” rating reiterated by Royal Bank of Canada in a report released on Thursday, Benzinga reports. They currently have a $69.00 price target on the oil and gas company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 51.78% from the stock’s previous close.

Several other equities analysts have also recently issued reports on SLB. Bank of America decreased their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a report on Monday, July 15th. Morgan Stanley decreased their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. dropped their price objective on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday. Citigroup decreased their target price on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Two analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.29.

Schlumberger Price Performance

Shares of NYSE SLB opened at $45.46 on Thursday. Schlumberger has a 52 week low of $38.66 and a 52 week high of $61.20. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The firm has a market cap of $64.55 billion, a P/E ratio of 15.10, a P/E/G ratio of 0.90 and a beta of 1.51. The business’s 50 day moving average price is $43.34 and its 200 day moving average price is $46.80.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $9.14 billion for 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%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share. On average, sell-side analysts expect that Schlumberger will post 3.49 earnings per share for the current year.

Insider Activity

In related news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the transaction, the chief financial officer now directly owns 203,076 shares in the company, valued at approximately $10,141,615.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock worth $9,048,624 over the last three months. Insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. LifePlan Financial LLC increased its stake in Schlumberger by 6.0% during the third quarter. LifePlan Financial LLC now owns 18,422 shares of the oil and gas company’s stock worth $773,000 after acquiring an additional 1,046 shares during the last quarter. Rockland Trust Co. grew its holdings in shares of Schlumberger by 10.4% during the 3rd quarter. Rockland Trust Co. now owns 319,381 shares of the oil and gas company’s stock worth $13,398,000 after purchasing an additional 30,162 shares during the period. Canandaigua National Bank & Trust Co. increased its position in shares of Schlumberger by 6.4% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 54,916 shares of the oil and gas company’s stock worth $2,304,000 after purchasing an additional 3,286 shares during the last quarter. Bright Rock Capital Management LLC raised its holdings in Schlumberger by 50.0% in the 3rd quarter. Bright Rock Capital Management LLC now owns 150,000 shares of the oil and gas company’s stock valued at $6,292,000 after buying an additional 50,000 shares during the period. Finally, Czech National Bank lifted its position in Schlumberger by 6.2% in the third quarter. Czech National Bank now owns 289,269 shares of the oil and gas company’s stock valued at $12,135,000 after buying an additional 16,919 shares during 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.