Zacks Investment Research cut shares of Schlumberger N.V. (NYSE:SLB) from a hold rating to a sell rating in a research note released on Wednesday.
According to Zacks, “Schlumberger has lesser exposure to the U.S. shale plays – where drillers might start gathering again as crude is trading above $50-per-barrel mark. This is reflected from the fact that during 2016, 2015 and 2014, the oilfield services player generated 80%, 76% and 71% of its consolidated revenues from non-US operations. Thus, Schlumberger is losing out on the opportunity to gain profitable contracts from shale drillers of late. Also, since 2015, Schlumberger’s long-term debt load increased considerably. Moreover, the company’s cash balance continues to plunge over the last seven quarters, reflecting significant balance sheet weakness. On top of that, Schlumberger lost 26.3% value year to date, following the industry’s 32.8% decline.”
Other equities research analysts have also issued reports about the company. Scotiabank set a $90.00 price target on Schlumberger N.V. and gave the company a buy rating in a research report on Friday, July 7th. BMO Capital Markets reissued a buy rating and issued a $74.00 price target (down from $89.00) on shares of Schlumberger N.V. in a research report on Thursday, July 13th. Loop Capital lowered their price target on Schlumberger N.V. from $93.00 to $80.00 and set a buy rating for the company in a research report on Tuesday, July 25th. Seaport Global Securities reissued a buy rating on shares of Schlumberger N.V. in a research report on Friday, July 21st. Finally, Instinet reaffirmed a buy rating and set a $78.00 target price (down from $85.00) on shares of Schlumberger N.V. in a research report on Monday, July 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $80.08.
Schlumberger N.V. (SLB) opened at $63.58 on Wednesday. The company has a market capitalization of $87,617.82, a price-to-earnings ratio of 49.03, a price-to-earnings-growth ratio of 1.93 and a beta of 1.02. The company has a quick ratio of 1.20, a current ratio of 1.53 and a debt-to-equity ratio of 0.40.
Schlumberger N.V. (NYSE:SLB) last released its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $7.91 billion during the quarter, compared to analyst estimates of $7.91 billion. Schlumberger N.V. had a return on equity of 4.42% and a net margin of 1.86%. Schlumberger N.V.’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. equities analysts expect that Schlumberger N.V. will post 1.47 earnings per share for the current year.
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In other Schlumberger N.V. news, Director Tore I. Sandvold sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $62.63, for a total value of $219,205.00. Following the sale, the director now owns 1,500 shares of the company’s stock, valued at approximately $93,945. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael E. Marks purchased 8,000 shares of the stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $64.20 per share, for a total transaction of $513,600.00. The disclosure for this purchase can be found here. Company insiders own 0.38% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Grimes & Company Inc. raised its holdings in shares of Schlumberger N.V. by 6.5% during the 3rd quarter. Grimes & Company Inc. now owns 63,293 shares of the oil and gas company’s stock valued at $4,415,000 after buying an additional 3,886 shares in the last quarter. Courier Capital LLC raised its holdings in shares of Schlumberger N.V. by 353.2% during the 3rd quarter. Courier Capital LLC now owns 71,814 shares of the oil and gas company’s stock valued at $5,009,000 after buying an additional 55,968 shares in the last quarter. FDx Advisors Inc. raised its holdings in shares of Schlumberger N.V. by 10.8% during the 3rd quarter. FDx Advisors Inc. now owns 44,915 shares of the oil and gas company’s stock valued at $3,133,000 after buying an additional 4,364 shares in the last quarter. Global X MANAGEMENT CO LLC raised its holdings in shares of Schlumberger N.V. by 10.8% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 14,619 shares of the oil and gas company’s stock valued at $1,020,000 after buying an additional 1,424 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its holdings in shares of Schlumberger N.V. by 0.5% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 377,122 shares of the oil and gas company’s stock valued at $26,308,000 after buying an additional 1,880 shares in the last quarter. 79.13% of the stock is currently owned by institutional investors.
About Schlumberger N.V.
Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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