Schlumberger’s (SLB) In-Line Rating Reiterated at Evercore ISI

Schlumberger (NYSE:SLB)‘s stock had its “in-line” rating reaffirmed by analysts at Evercore ISI in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $44.00 target price on the oil and gas company’s stock, down from their prior target price of $62.00. Evercore ISI’s target price indicates a potential upside of 10.14% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Dbs Bank assumed coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective for the company. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Piper Sandler began coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. Wells Fargo & Company decreased their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Finally, Stifel Nicolaus decreased their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average target price of $56.58.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $39.95 on Wednesday. The stock has a market capitalization of $56.42 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.42 and a beta of 1.52. The business has a 50-day moving average of $40.95 and a two-hundred day moving average of $42.95. Schlumberger has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 EPS. On average, equities research analysts predict that Schlumberger will post 3.39 EPS for the current fiscal year.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Several institutional investors and hedge funds have recently made changes to their positions in SLB. State Street Corp increased its holdings in shares of Schlumberger by 0.6% in the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after acquiring an additional 528,279 shares in the last quarter. Geode Capital Management LLC increased its stake in Schlumberger by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock worth $1,195,290,000 after purchasing an additional 239,966 shares in the last quarter. Legal & General Group Plc raised its holdings in Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after buying an additional 1,560,684 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Schlumberger by 20.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after buying an additional 1,916,851 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Schlumberger by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock valued at $335,214,000 after buying an additional 31,718 shares during the period. Institutional investors and hedge funds 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.