Schlumberger (NYSE:SLB) Given Buy Rating at Stifel Nicolaus

Schlumberger (NYSE:SLB)‘s stock had its “buy” rating reissued by Stifel Nicolaus in a research note issued to investors on Monday, Benzinga reports. They currently have a $60.00 price objective on the oil and gas company’s stock, down from their prior price objective of $62.00. Stifel Nicolaus’ price target points to a potential upside of 41.28% from the stock’s previous close.

A number of other research firms also recently weighed in on SLB. JPMorgan Chase & Co. dropped their price target on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Piper Sandler decreased their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a report on Thursday, October 3rd. BMO Capital Markets decreased their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, October 10th. Finally, Citigroup decreased their price target on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a report on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.03.

Schlumberger Price Performance

Shares of SLB traded up $0.55 during trading hours on Monday, hitting $42.47. 3,968,995 shares of the company were exchanged, compared to its average volume of 11,053,511. The company has a market capitalization of $60.70 billion, a PE ratio of 14.14, a PEG ratio of 0.96 and a beta of 1.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The firm has a fifty day simple moving average of $43.10 and a 200-day simple moving average of $45.95. Schlumberger has a one year low of $38.66 and a one year high of $59.05.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $0.78 EPS. As a group, sell-side analysts predict that Schlumberger will post 3.46 earnings per share for the current year.

Hedge Funds Weigh In On Schlumberger

Hedge funds and other institutional investors have recently bought and sold shares of the business. Register Financial Advisors LLC bought a new position in Schlumberger in the first quarter valued at approximately $27,000. Manchester Capital Management LLC boosted its stake in Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares during the last quarter. Bruce G. Allen Investments LLC boosted its stake in Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares during the last quarter. ORG Partners LLC boosted its stake in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares during the last quarter. Finally, Unique Wealth Strategies LLC bought a new position in Schlumberger in the second quarter valued at approximately $30,000. 81.99% of the stock is owned by institutional investors.

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.