Schlumberger (NYSE:SLB) Rating Reiterated by Royal Bank of Canada

Schlumberger (NYSE:SLB)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a research report issued on Monday, Benzinga reports. They currently have a $69.00 price target on the oil and gas company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 40.64% from the company’s previous close.

Several other analysts have also issued reports on SLB. Barclays dropped their target price on Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Citigroup dropped their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Stifel Nicolaus restated a “buy” rating and issued a $64.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Bank of America reduced their price target on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.56.

Schlumberger Price Performance

Shares of SLB opened at $49.06 on Monday. The company has a 50 day moving average of $46.32 and a 200-day moving average of $49.00. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $70.12 billion, a P/E ratio of 16.30, a P/E/G ratio of 1.06 and a beta of 1.55. Schlumberger has a twelve month low of $42.61 and a twelve month high of $62.12.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, equities research analysts forecast that Schlumberger will post 3.48 EPS for the current fiscal year.

Insider Activity at Schlumberger

In related news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The disclosure for this sale can be found here. In the last three months, insiders sold 286,874 shares of company stock valued at $14,148,517. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Schlumberger

Several large investors have recently added to or reduced their stakes in the company. Register Financial Advisors LLC bought a new position in Schlumberger during the first quarter worth about $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Schlumberger during the 4th quarter valued at approximately $26,000. Manchester Capital Management LLC boosted its holdings in Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after buying an additional 426 shares during the period. Bruce G. Allen Investments LLC grew its stake in Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 392 shares in the last quarter. Finally, Transcendent Capital Group LLC bought a new stake in Schlumberger during the 4th quarter valued at $32,000. 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.