TD Cowen Issues Positive Forecast for Schlumberger (NYSE:SLB) Stock Price

Schlumberger (NYSE:SLB) had its price objective lifted by research analysts at TD Cowen from $53.00 to $55.00 in a note issued to investors on Tuesday, MarketBeat.com reports. The firm presently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s price target points to a potential upside of 26.21% from the company’s previous close.

A number of other research firms also recently issued reports on SLB. Stifel Nicolaus cut their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. increased their target price on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday. BMO Capital Markets dropped their target price on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Finally, Citigroup decreased their target price on Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $56.25.

Schlumberger Trading Up 6.1 %

NYSE SLB opened at $43.58 on Tuesday. The stock has a market capitalization of $61.54 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 3.61 and a beta of 1.52. Schlumberger has a 52 week low of $36.52 and a 52 week high of $55.69. The stock’s 50 day moving average price is $40.84 and its two-hundred day moving average price is $42.81. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9,241,140 billion. During the same period in the previous year, the business earned $0.86 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. As a group, analysts anticipate that Schlumberger will post 3.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was 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 directly owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp boosted its stake in shares of Schlumberger by 0.6% during the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after purchasing an additional 528,279 shares during the period. Geode Capital Management LLC boosted its position 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 valued at $1,195,290,000 after buying an additional 239,966 shares during the period. Legal & General Group Plc grew its holdings in Schlumberger by 14.0% in 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 acquiring an additional 1,560,684 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Schlumberger by 20.6% during 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 acquiring an additional 1,916,851 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Schlumberger by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock worth $335,214,000 after purchasing an additional 31,718 shares during the period. 81.99% of the stock is owned by institutional investors.

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.