Schlumberger (SLB) Given a $73.00 Price Target at Royal Bank of Canada

Royal Bank of Canada set a $73.00 target price on Schlumberger (NYSE:SLB) in a report published on Thursday. The firm currently has a buy rating on the oil and gas company’s stock.

Several other research firms also recently commented on SLB. Jefferies Group set a $80.00 price target on shares of Schlumberger and gave the company a buy rating in a research report on Friday, August 25th. Loop Capital dropped their price objective on shares of Schlumberger from $80.00 to $75.00 and set a buy rating on the stock in a research note on Thursday, October 26th. Scotiabank set a $80.00 price objective on shares of Schlumberger and gave the company a buy rating in a research note on Saturday, October 21st. Citigroup boosted their price objective on shares of Schlumberger from $77.00 to $80.00 and gave the company a buy rating in a research note on Thursday, October 5th. Finally, Deutsche Bank started coverage on shares of Schlumberger in a research note on Tuesday, October 10th. They issued a buy rating and a $78.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $79.42.

Shares of Schlumberger (NYSE:SLB) opened at $67.44 on Thursday. Schlumberger has a 12-month low of $61.02 and a 12-month high of $87.84. The company has a market cap of $94,003.88, a price-to-earnings ratio of 172.93, a P/E/G ratio of 2.08 and a beta of 1.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.53 and a quick ratio of 1.20.

Schlumberger (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 the consensus estimate of $0.42. Schlumberger had a net margin of 1.86% and a return on equity of 4.42%. The firm had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $7.91 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. Schlumberger’s revenue for the quarter was up 12.6% on a year-over-year basis. equities analysts forecast that Schlumberger will post 1.47 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Wednesday, December 6th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.97%. Schlumberger’s dividend payout ratio (DPR) is presently 512.83%.

In other news, Director Tore I. Sandvold sold 3,500 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total transaction of $219,205.00. Following the transaction, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $93,945. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.38% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Aviance Capital Management LLC purchased a new position in shares of Schlumberger during the 2nd quarter worth about $100,000. Mountain Capital Investment Advisors Inc purchased a new position in shares of Schlumberger during the 2nd quarter worth about $107,000. Tradewinds Capital Management LLC lifted its holdings in shares of Schlumberger by 22.3% during the 2nd quarter. Tradewinds Capital Management LLC now owns 1,636 shares of the oil and gas company’s stock worth $108,000 after acquiring an additional 298 shares during the period. Jacobi Capital Management LLC lifted its holdings in shares of Schlumberger by 95.8% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,044 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 1,000 shares during the period. Finally, Atlantic Trust LLC purchased a new position in shares of Schlumberger during the 2nd quarter worth about $137,000. Institutional investors and hedge funds own 79.32% of the company’s stock.

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About Schlumberger

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.

Analyst Recommendations for Schlumberger (NYSE:SLB)

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