Schlumberger’s (SLB) In-Line Rating Reiterated at Evercore ISI

Evercore ISI reissued their in-line rating on shares of Schlumberger (NYSE:SLB) in a research report released on Wednesday morning, Marketbeat Ratings reports. Evercore ISI currently has a $44.00 target price on the oil and gas company’s stock, down from their prior target price of $62.00.

Several other analysts have also issued reports on the stock. Susquehanna reduced their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Stifel Nicolaus reduced their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. JPMorgan Chase & Co. cut their target price on Schlumberger from $55.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Bank of America reduced their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.58.

Schlumberger Trading Up 2.0 %

SLB opened at $40.68 on Wednesday. Schlumberger has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The firm has a market capitalization of $57.45 billion, a PE ratio of 13.08, a P/E/G ratio of 1.35 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The company’s 50-day moving average is $40.95 and its 200 day moving average is $42.95.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 earnings per share. As a group, research analysts predict that Schlumberger will post 3.39 earnings per share for the current fiscal year.

Insider Activity

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp increased its stake in Schlumberger by 0.6% in the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after acquiring an additional 528,279 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Schlumberger by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after purchasing an additional 239,966 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after buying an additional 1,560,684 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after buying an additional 1,916,851 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Schlumberger by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock worth $335,214,000 after buying an additional 31,718 shares in the last quarter. 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.