Evercore ISI Reaffirms “In-Line” Rating for Schlumberger (NYSE:SLB)

Schlumberger (NYSE:SLB)‘s stock had its “in-line” rating reissued by investment analysts at Evercore ISI in a report released on Wednesday,Benzinga reports. They currently 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 price objective suggests a potential upside of 10.14% from the stock’s current price.

Other analysts have also issued reports about the company. Dbs Bank started coverage on Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price on the stock. Citigroup cut 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. BMO Capital Markets dropped their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Finally, Stifel Nicolaus lowered their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.58.

Schlumberger Trading Up 0.3 %

NYSE:SLB opened at $39.95 on Wednesday. Schlumberger has a 12 month low of $36.52 and a 12 month high of $55.69. The business’s 50-day moving average is $40.95 and its two-hundred day moving average is $42.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The firm has a market capitalization of $56.42 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52.

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

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the sale, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky lifted its position in shares of Schlumberger by 25.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after purchasing an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in Schlumberger by 27.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after buying an additional 16,350 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Schlumberger by 8.7% during the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after buying an additional 65,318 shares during the period. Concurrent Investment Advisors LLC grew its holdings in shares of Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after acquiring an additional 14,376 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its stake in shares of Schlumberger by 0.6% in the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after acquiring an additional 11,813 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

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.