Cowen Reiterates “$85.00” Price Target for Schlumberger (SLB)

Schlumberger (NYSE:SLB) received a $85.00 price objective from equities researchers at Cowen in a report released on Thursday. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Cowen’s target price indicates a potential upside of 10.32% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Barclays set a $70.00 price target on Schlumberger and gave the stock a “hold” rating in a research report on Wednesday, October 25th. SunTrust Banks reiterated a “hold” rating on shares of Schlumberger in a research report on Tuesday, October 31st. Citigroup increased their target price on Schlumberger from $77.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 target price (down previously from $86.00) on shares of Schlumberger in a report on Monday, October 16th. Finally, Morgan Stanley reduced their target price on Schlumberger from $90.00 to $81.00 and set an “overweight” rating for the company in a report on Monday, October 23rd. Two research analysts have 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 company’s stock. Schlumberger has a consensus rating of “Buy” and a consensus target price of $79.56.

Schlumberger (SLB) opened at $77.05 on Thursday. The stock has a market capitalization of $106,730.00, a P/E ratio of 197.56, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01. The company has a current ratio of 1.53, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. Schlumberger has a 1 year low of $61.02 and a 1 year high of $87.84.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The company had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $7.91 billion. Schlumberger had a return on equity of 4.42% and a net margin of 1.86%. Schlumberger’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 earnings per share. equities analysts forecast that Schlumberger will post 1.46 EPS for the current fiscal year.

In related news, Director Tore I. Sandvold sold 3,500 shares of the stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $62.63, for a total value of $219,205.00. Following the completion of the sale, the director now owns 1,500 shares of the company’s stock, valued at $93,945. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.38% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of SLB. Catawba Capital Management VA increased its stake in Schlumberger by 0.7% during the second quarter. Catawba Capital Management VA now owns 60,590 shares of the oil and gas company’s stock worth $3,989,000 after acquiring an additional 415 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in Schlumberger by 2.1% during the second quarter. Xact Kapitalforvaltning AB now owns 111,721 shares of the oil and gas company’s stock worth $7,356,000 after acquiring an additional 2,264 shares during the last quarter. Boltwood Capital Management increased its stake in Schlumberger by 1.5% during the second quarter. Boltwood Capital Management now owns 6,780 shares of the oil and gas company’s stock worth $446,000 after acquiring an additional 100 shares during the last quarter. Trust Co increased its stake in Schlumberger by 1.7% during the first quarter. Trust Co now owns 72,263 shares of the oil and gas company’s stock worth $5,643,000 after acquiring an additional 1,193 shares during the last quarter. Finally, Independence Advisors LLC acquired a new stake in Schlumberger during the second quarter worth $288,000. 79.31% of the stock is owned by hedge funds and other institutional investors.

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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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