HSBC Upgrades Schlumberger (SLB) to “Buy”

Schlumberger (NYSE:SLB) was upgraded by equities researchers at HSBC from a “hold” rating to a “buy” rating in a research report issued on Sunday.

Other research analysts also recently issued reports about the company. ValuEngine downgraded Schlumberger from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Stifel Nicolaus began coverage on Schlumberger in a research note on Monday, September 10th. They set a “hold” rating and a $69.00 target price for the company. Morgan Stanley began coverage on Schlumberger in a research note on Tuesday, September 18th. They set an “equal weight” rating and a $72.00 target price for the company. Jefferies Financial Group reduced their target price on Schlumberger from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, September 26th. Finally, Tudor Pickering downgraded Schlumberger from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $76.94.

Shares of NYSE:SLB traded down $0.80 during trading on Friday, hitting $45.10. 16,183,562 shares of the company were exchanged, compared to its average volume of 10,885,454. The firm has a market capitalization of $62.45 billion, a price-to-earnings ratio of 30.07, a price-to-earnings-growth ratio of 4.45 and a beta of 1.03. Schlumberger has a fifty-two week low of $44.68 and a fifty-two week high of $80.35. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.38.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 19th. The oil and gas company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.57 billion. Schlumberger had a positive return on equity of 6.55% and a negative net margin of 2.00%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 EPS. As a group, analysts anticipate that Schlumberger will post 1.69 earnings per share for the current year.

In related news, CFO Simon Ayat sold 60,000 shares of the business’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $56.60, for a total value of $3,396,000.00. Following the completion of the sale, the chief financial officer now directly owns 234,008 shares in the company, valued at approximately $13,244,852.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael E. Marks purchased 8,000 shares of Schlumberger stock in a transaction that occurred on Thursday, September 6th. The stock was purchased at an average price of $60.31 per share, with a total value of $482,480.00. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLB. Mainstay Capital Management LLC ADV lifted its position in shares of Schlumberger by 3,884.1% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,773 shares of the oil and gas company’s stock valued at $105,000 after acquiring an additional 6,603 shares during the period. Zions Bancorporation bought a new stake in shares of Schlumberger during the 3rd quarter valued at $131,000. Truvestments Capital LLC bought a new stake in shares of Schlumberger during the 3rd quarter valued at $132,000. Whitener Capital Management Inc. bought a new stake in shares of Schlumberger during the 3rd quarter valued at $137,000. Finally, Moneta Group Investment Advisors LLC lifted its position in shares of Schlumberger by 909.1% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 22,352 shares of the oil and gas company’s stock valued at $138,000 after acquiring an additional 20,137 shares during the period. Institutional investors and hedge funds own 77.49% of the company’s stock.

Schlumberger Company Profile

Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.

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Analyst Recommendations for Schlumberger (NYSE:SLB)

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