Bank of America Raises Schlumberger (NYSE:SLB) Price Target to $63.00

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

SLB has been the topic of several other research reports. Royal Bank of Canada raised their price target on shares of Schlumberger from $66.00 to $69.00 and gave the company an outperform rating in a research report on Wednesday, April 3rd. Stifel Nicolaus lifted their target price on shares of Schlumberger from $63.00 to $64.00 and gave the stock a buy rating in a research report on Monday, January 22nd. The Goldman Sachs Group reissued a buy rating on shares of Schlumberger in a research report on Monday, April 1st. Susquehanna reissued a positive rating and set a $77.00 target price on shares of Schlumberger in a research report on Monday, April 8th. Finally, Barclays dropped their target price on shares of Schlumberger from $74.00 to $70.00 and set an overweight rating on the stock in a research report on Thursday, April 4th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $70.31.

Schlumberger Price Performance

Shares of NYSE SLB opened at $50.81 on Monday. Schlumberger has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The stock has a market cap of $72.53 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 0.93 and a beta of 1.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.32. The firm’s 50-day simple moving average is $51.50 and its 200 day simple moving average is $52.50.

Schlumberger (NYSE:SLB) last announced 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 net margin of 12.68% and a return on equity of 21.97%. The business had revenue of $8.99 billion for the quarter, compared to analysts’ expectations of $8.96 billion. During the same quarter last year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, research analysts anticipate that Schlumberger will post 3.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Schlumberger news, CAO Howard Guild sold 22,853 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $51.66, for a total value of $1,180,585.98. Following the transaction, the chief accounting officer now owns 22,181 shares in the company, valued at $1,145,870.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 249,182 shares in the company, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. Insiders sold 172,191 shares of company stock valued at $8,636,322 over the last three months. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BluePath Capital Management LLC purchased a new stake in Schlumberger in the third quarter worth about $25,000. Acadian Asset Management LLC purchased a new stake in Schlumberger in the first quarter worth about $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Schlumberger in the fourth quarter worth about $26,000. Register Financial Advisors LLC purchased a new stake in Schlumberger in the first quarter worth about $27,000. Finally, Coppell Advisory Solutions LLC purchased a new stake in Schlumberger in the second quarter worth about $27,000. 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.