Susquehanna Increases Schlumberger (NYSE:SLB) Price Target to $68.00

Schlumberger (NYSE:SLBGet Rating) had its target price upped by equities research analysts at Susquehanna from $65.00 to $68.00 in a research report issued to clients and investors on Monday, The Fly reports. The firm currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price target points to a potential upside of 22.59% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Susquehanna Bancshares raised their target price on shares of Schlumberger from $52.00 to $59.00 and gave the stock a “positive” rating in a report on Monday, October 24th. Morgan Stanley lifted their price objective on shares of Schlumberger from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, November 7th. The Goldman Sachs Group lifted their price objective on shares of Schlumberger from $46.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, October 25th. Wolfe Research lowered shares of Schlumberger from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 12th. Finally, Royal Bank of Canada lifted their price objective on shares of Schlumberger from $59.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, November 8th. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $57.52.

Schlumberger Price Performance

SLB stock opened at $55.47 on Monday. The company has a market cap of $78.66 billion, a P/E ratio of 23.11, a PEG ratio of 0.50 and a beta of 1.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.25 and a quick ratio of 0.92. Schlumberger has a 1 year low of $30.65 and a 1 year high of $62.78. The firm has a 50-day moving average of $52.95 and a 200 day moving average of $44.91.

Schlumberger (NYSE:SLBGet Rating) last released its quarterly earnings results on Friday, January 20th. The oil and gas company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. The business had revenue of $7.88 billion for the quarter, compared to the consensus estimate of $7.80 billion. Schlumberger had a net margin of 12.25% and a return on equity of 18.51%. The company’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. On average, sell-side analysts forecast that Schlumberger will post 3.03 EPS for the current year.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 70,000 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $57.20, for a total transaction of $4,004,000.00. Following the sale, the executive vice president now owns 204,357 shares of the company’s stock, valued at approximately $11,689,220.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Howard Guild sold 20,053 shares of the company’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $53.00, for a total value of $1,062,809.00. Following the sale, the chief accounting officer now directly owns 35,994 shares of the company’s stock, valued at approximately $1,907,682. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Abdellah Merad sold 70,000 shares of the company’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $57.20, for a total transaction of $4,004,000.00. Following the completion of the sale, the executive vice president now directly owns 204,357 shares in the company, valued at $11,689,220.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 269,389 shares of company stock valued at $15,026,271. Insiders own 0.28% of the company’s stock.

Institutional Trading of Schlumberger

Several large investors have recently made changes to their positions in the business. Jennison Associates LLC lifted its stake in shares of Schlumberger by 59.3% in the 2nd quarter. Jennison Associates LLC now owns 28,917,488 shares of the oil and gas company’s stock valued at $1,034,089,000 after purchasing an additional 10,761,322 shares during the period. FMR LLC lifted its stake in shares of Schlumberger by 44.9% in the 2nd quarter. FMR LLC now owns 32,671,828 shares of the oil and gas company’s stock valued at $1,168,374,000 after purchasing an additional 10,121,321 shares during the period. Allen Investment Management LLC lifted its stake in shares of Schlumberger by 32,149.8% in the 2nd quarter. Allen Investment Management LLC now owns 6,498,016 shares of the oil and gas company’s stock valued at $232,369,000 after purchasing an additional 6,477,867 shares during the period. Franklin Resources Inc. lifted its stake in shares of Schlumberger by 501.7% in the 2nd quarter. Franklin Resources Inc. now owns 7,401,112 shares of the oil and gas company’s stock valued at $264,665,000 after purchasing an additional 6,171,139 shares during the period. Finally, Mirabella Financial Services LLP lifted its stake in shares of Schlumberger by 4,920.1% in the 3rd quarter. Mirabella Financial Services LLP now owns 4,487,500 shares of the oil and gas company’s stock valued at $4,488,000 after purchasing an additional 4,398,110 shares during the period. 80.22% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Company Profile

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Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s software and seismic businesses with its integrated offering of asset performance solutions.

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