Schlumberger (NYSE:SLB) PT Raised to $59.00 at Barclays

Schlumberger (NYSE:SLBGet Rating) had its price target raised by stock analysts at Barclays from $55.00 to $59.00 in a research note issued on Wednesday, The Fly reports. Barclays‘s price objective suggests a potential upside of 20.58% from the stock’s current price.

SLB has been the subject of several other research reports. Piper Sandler raised shares of Schlumberger from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $43.00 to $55.00 in a report on Monday, April 11th. Morgan Stanley increased their price objective on shares of Schlumberger from $43.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, April 11th. StockNews.com downgraded shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Monday, April 25th. Cowen upped their target price on shares of Schlumberger from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, March 31st. Finally, HSBC upgraded shares of Schlumberger from a “hold” rating to a “buy” rating and upped their target price for the company from $4.60 to $44.20 in a research report on Wednesday, April 27th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $46.71.

Shares of Schlumberger stock opened at $48.93 on Wednesday. The company has a market capitalization of $69.16 billion, a P/E ratio of 33.29, a P/E/G ratio of 0.55 and a beta of 1.90. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.24. The company has a fifty day moving average of $42.41 and a 200 day moving average of $38.33. Schlumberger has a fifty-two week low of $25.90 and a fifty-two week high of $49.08.

Schlumberger (NYSE:SLBGet Rating) last issued its earnings results on Friday, April 22nd. The oil and gas company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.90 billion. Schlumberger had a net margin of 8.84% and a return on equity of 14.02%. Schlumberger’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. Analysts forecast that Schlumberger will post 1.84 EPS for the current year.

In related news, Director Vijay Kasibhatla sold 20,000 shares of the firm’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $43.32, for a total transaction of $866,400.00. Following the completion of the transaction, the director now owns 46,529 shares of the company’s stock, valued at $2,015,636.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gavin Rennick sold 10,759 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $46.70, for a total transaction of $502,445.30. Following the transaction, the insider now directly owns 38,044 shares of the company’s stock, valued at approximately $1,776,654.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,546,587 shares of company stock valued at $226,788,025. Corporate insiders own 0.28% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLB. EagleClaw Capital Managment LLC increased its holdings in Schlumberger by 18.8% in the third quarter. EagleClaw Capital Managment LLC now owns 26,584 shares of the oil and gas company’s stock valued at $790,000 after buying an additional 4,200 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Schlumberger in the third quarter valued at $10,125,000. Franklin Resources Inc. increased its holdings in Schlumberger by 16.0% in the third quarter. Franklin Resources Inc. now owns 1,359,968 shares of the oil and gas company’s stock valued at $40,310,000 after buying an additional 187,140 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in Schlumberger by 14.8% in the third quarter. Neuberger Berman Group LLC now owns 124,087 shares of the oil and gas company’s stock valued at $3,155,000 after buying an additional 15,964 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Schlumberger in the third quarter valued at about $49,000. 76.34% of the stock is owned by institutional investors.

Schlumberger Company Profile (Get Rating)

Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

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