Schlumberger (NYSE:SLB) Rating Reiterated by Morgan Stanley

Schlumberger (NYSE:SLB)‘s stock had its “overweight” rating reiterated by equities research analysts at Morgan Stanley in a report issued on Monday, Benzinga reports. They presently have a $65.00 price target on the oil and gas company’s stock. Morgan Stanley’s price objective points to a potential upside of 31.18% from the stock’s previous close.

A number of other analysts also recently issued reports on SLB. Royal Bank of Canada raised their price objective on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Barclays lowered their target price on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Stifel Nicolaus reissued a “buy” rating and set a $64.00 target price on shares of Schlumberger in a research report on Monday. Finally, HSBC reaffirmed a “buy” rating and set a $71.00 price target on shares of Schlumberger in a research report on Thursday, April 4th. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $69.67.

Schlumberger Trading Up 0.1 %

Shares of NYSE:SLB opened at $49.55 on Monday. The business’s 50 day moving average price is $51.68 and its 200-day moving average price is $52.28. Schlumberger has a 1 year low of $42.73 and a 1 year high of $62.12. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The firm has a market capitalization of $70.73 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. During the same period last year, the company earned $0.63 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities research analysts forecast that Schlumberger will post 3.51 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $52.78, for a total value of $329,875.00. Following the sale, the chief financial officer now directly owns 249,182 shares in the company, valued at $13,151,825.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.78, for a total value of $329,875.00. Following the sale, the chief financial officer now owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The disclosure for this sale can be found here. Insiders have sold 110,768 shares of company stock worth $5,511,037 over the last three months. 0.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Schlumberger

Institutional investors and hedge funds have recently modified their holdings of the stock. BluePath Capital Management LLC purchased a new position in Schlumberger in the third quarter valued at about $25,000. MCF Advisors LLC boosted its holdings in Schlumberger by 1,355.9% in the third quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 461 shares during the last quarter. Register Financial Advisors LLC purchased a new position in Schlumberger in the first quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC bought a new position in Schlumberger during the 4th quarter worth approximately $26,000. Finally, Transcendent Capital Group LLC bought a new position in Schlumberger during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Company Profile

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.