Schlumberger (SLB) Stock Rating Reaffirmed by Bank of America

Bank of America restated their buy rating on shares of Schlumberger (NYSE:SLB) in a research report sent to investors on Monday, MarketBeat reports. They currently have a $52.00 price target on the oil and gas company’s stock, down from their previous price target of $69.00.

A number of other equities research analysts also recently weighed in on SLB. ValuEngine downgraded Schlumberger from a hold rating to a sell rating in a research report on Tuesday, September 4th. Stifel Nicolaus initiated coverage on Schlumberger in a research report on Monday, September 10th. They set a hold rating and a $69.00 target price for the company. Morgan Stanley initiated coverage on Schlumberger in a research report on Tuesday, September 18th. They set an equal weight rating and a $72.00 target price for the company. Jefferies Financial Group dropped their target price on Schlumberger from $80.00 to $75.00 and set a buy rating for the company in a research report on Wednesday, September 26th. Finally, Tudor Pickering downgraded Schlumberger from a buy rating to a hold rating in a research report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $74.50.

SLB stock opened at $42.32 on Monday. The firm has a market cap of $61.10 billion, a PE ratio of 28.21, a PEG ratio of 4.35 and a beta of 1.04. Schlumberger has a twelve month low of $41.87 and a twelve month 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 released its earnings results on Friday, October 19th. The oil and gas company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.57 billion. Schlumberger had a positive return on equity of 6.55% and a negative net margin of 2.00%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 earnings per share. On average, equities research analysts predict that Schlumberger will post 1.69 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Wednesday, December 5th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.73%. Schlumberger’s dividend payout ratio (DPR) is presently 133.33%.

In related news, CFO Simon Ayat sold 60,000 shares of Schlumberger stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $56.60, for a total transaction of $3,396,000.00. Following the completion of the sale, the chief financial officer now directly owns 234,008 shares of the company’s stock, valued at $13,244,852.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.48% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Mainstay Capital Management LLC ADV grew its stake in Schlumberger by 3,884.1% in the second 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 acquired a new position in Schlumberger in the third quarter valued at about $131,000. Truvestments Capital LLC acquired a new position in Schlumberger in the third quarter valued at about $132,000. Whitener Capital Management Inc. acquired a new position in Schlumberger in the third quarter valued at about $137,000. Finally, Moneta Group Investment Advisors LLC grew its stake in Schlumberger by 909.1% in the second 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. 77.74% of the stock is owned by institutional investors and hedge funds.

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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