Schlumberger (NYSE:SLB) Price Target Increased to $63.00 by Analysts at Bank of America

Schlumberger (NYSE:SLB) had its price objective boosted by Bank of America from $62.00 to $63.00 in a report issued on Monday, Benzinga reports. Bank of America currently has a buy rating on the oil and gas company’s stock.

A number of other equities research analysts also recently issued reports on the stock. HSBC reiterated a buy rating and set a $71.00 price objective on shares of Schlumberger in a research note on Thursday, April 4th. Royal Bank of Canada increased their price objective on shares of Schlumberger from $66.00 to $69.00 and gave the stock an outperform rating in a research note on Wednesday, April 3rd. Stifel Nicolaus increased their price objective on shares of Schlumberger from $63.00 to $64.00 and gave the stock a buy rating in a research note on Monday, January 22nd. Barclays reduced their price objective on shares of Schlumberger from $74.00 to $70.00 and set an overweight rating on the stock in a research note on Thursday, April 4th. Finally, Wells Fargo & Company raised their price target on shares of Schlumberger from $69.00 to $70.00 and gave the company an overweight rating in a research note on Monday, January 22nd. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $70.31.

Schlumberger Price Performance

NYSE:SLB opened at $50.94 on Monday. Schlumberger has a 52 week low of $42.73 and a 52 week high of $62.12. The firm has a market cap of $72.71 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 0.98 and a beta of 1.60. The firm’s 50-day simple moving average is $51.56 and its 200 day simple moving average is $52.48. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.32.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $8.99 billion for the quarter, compared to analyst estimates of $8.96 billion. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. Schlumberger’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $0.71 earnings per share. As a group, sell-side analysts predict that Schlumberger will post 3.52 earnings per share for the current year.

Insiders Place Their Bets

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the transaction, the chief financial officer now owns 242,932 shares in the company, valued at approximately $11,816,212.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Mogharbel Khaled Al sold 38,570 shares of Schlumberger stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total value of $1,944,699.40. Following the completion of the sale, the executive vice president now owns 386,841 shares in the company, valued at approximately $19,504,523.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the sale, the chief financial officer now owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 172,191 shares of company stock worth $8,636,322. 0.26% of the stock is currently owned by insiders.

Institutional Trading of Schlumberger

Several hedge funds have recently modified their holdings of SLB. BluePath Capital Management LLC bought a new stake in Schlumberger during the 3rd quarter valued at $25,000. MCF Advisors LLC increased its stake in Schlumberger by 1,355.9% during the 3rd 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 in the last quarter. Register Financial Advisors LLC bought a new stake in Schlumberger during the 1st quarter valued at $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in Schlumberger during the 4th quarter valued at $26,000. Finally, Indiana Trust & Investment Management CO bought a new stake in Schlumberger during the 3rd quarter valued at $31,000. 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.