Schlumberger (NYSE:SLB) Price Target Increased to $63.00 by Analysts at Bank of America

Schlumberger (NYSE:SLB) had its price target increased by Bank of America from $62.00 to $63.00 in a report published on Monday, Benzinga reports. Bank of America currently has a buy rating on the oil and gas company’s stock.

Several other brokerages also recently weighed in on SLB. The Goldman Sachs Group restated a buy rating on shares of Schlumberger in a report on Monday, April 1st. Royal Bank of Canada increased their price objective on Schlumberger from $66.00 to $69.00 and gave the company an outperform rating in a research report on Wednesday, April 3rd. Wells Fargo & Company increased their price objective on Schlumberger from $69.00 to $70.00 and gave the company an overweight rating in a research report on Monday, January 22nd. Barclays dropped their price objective on Schlumberger from $74.00 to $70.00 and set an overweight rating on the stock in a research report on Thursday, April 4th. Finally, Stifel Nicolaus raised their target price on Schlumberger from $63.00 to $64.00 and gave the stock a buy rating in a research report on Monday, January 22nd. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $70.31.

Schlumberger Price Performance

SLB opened at $50.94 on Monday. The stock has a fifty day simple moving average of $51.56 and a two-hundred day simple moving average of $52.48. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The company has a market cap of $72.71 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 0.98 and a beta of 1.60. Schlumberger has a 12-month low of $42.73 and a 12-month high of $62.12.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The firm had revenue of $8.99 billion during the quarter, compared to the consensus estimate of $8.96 billion. During the same period last year, the company earned $0.71 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. Research analysts predict that Schlumberger will post 3.52 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Kevin Fyfe sold 20,223 shares of Schlumberger stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $52.05, for a total transaction of $1,052,607.15. Following the transaction, the vice president now directly owns 31,198 shares of the company’s stock, valued at approximately $1,623,855.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kevin Fyfe sold 20,223 shares of Schlumberger stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $52.05, for a total value of $1,052,607.15. Following the sale, the vice president now directly owns 31,198 shares in the company, valued at approximately $1,623,855.90. The disclosure for this sale can be found here. Insiders have sold a total of 172,191 shares of company stock valued at $8,636,322 in the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Highland Capital Management LLC raised its stake in Schlumberger by 2,494.0% during the 4th quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock valued at $5,278,000 after purchasing an additional 97,516 shares during the period. Guinness Asset Management LTD increased its stake in Schlumberger by 0.3% in the 3rd quarter. Guinness Asset Management LTD now owns 331,309 shares of the oil and gas company’s stock worth $19,468,000 after acquiring an additional 965 shares during the last quarter. Nordea Investment Management AB increased its stake in Schlumberger by 36.4% in the 4th quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock worth $74,080,000 after acquiring an additional 380,185 shares during the last quarter. Allworth Financial LP increased its stake in Schlumberger by 3.8% in the 3rd quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock worth $324,000 after acquiring an additional 206 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in Schlumberger by 6.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock worth $31,726,000 after acquiring an additional 35,763 shares during the last quarter. Institutional investors 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.