Bank of America Increases Schlumberger (NYSE:SLB) Price Target to $63.00

Schlumberger (NYSE:SLB) had its price objective lifted by investment analysts at Bank of America from $62.00 to $63.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Bank of America‘s target price suggests a potential upside of 22.54% from the stock’s previous close.

Other analysts also recently issued reports about the company. Barclays cut their target price on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Wednesday, April 3rd. Stifel Nicolaus raised their target price on Schlumberger from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Finally, Wells Fargo & Company raised their target price on Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.31.

Schlumberger Trading Down 0.5 %

Shares of NYSE:SLB opened at $51.41 on Monday. Schlumberger has a 1 year low of $42.73 and a 1 year high of $62.12. The firm has a market capitalization of $73.38 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 0.94 and a beta of 1.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.00. The business’s 50 day moving average price is $51.43 and its 200-day moving average price is $52.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 19th. The oil and gas company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $8.99 billion for the quarter, compared to analyst estimates of $8.96 billion. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 EPS. On average, equities research analysts forecast that Schlumberger will post 3.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Schlumberger

In other news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 249,182 shares in the company, valued at approximately $13,151,825.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 249,182 shares in the company, valued at approximately $13,151,825.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Howard Guild sold 22,853 shares of Schlumberger stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $51.66, for a total value of $1,180,585.98. Following the completion of the transaction, the chief accounting officer now owns 22,181 shares of the company’s stock, valued at approximately $1,145,870.46. The disclosure for this sale can be found here. Insiders sold a total of 172,191 shares of company stock valued at $8,636,322 in the last three months. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Schlumberger

Institutional investors have recently added to or reduced their stakes in the business. BluePath Capital Management LLC purchased a new stake in Schlumberger during the third quarter worth approximately $25,000. Acadian Asset Management LLC purchased a new stake in Schlumberger in the first quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Schlumberger in the fourth quarter valued at approximately $26,000. Register Financial Advisors LLC purchased a new stake in Schlumberger in the first quarter valued at approximately $27,000. Finally, Coppell Advisory Solutions LLC purchased a new stake in Schlumberger in the second quarter valued at approximately $27,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.