J P Morgan Chase & Co Lowers Schlumberger N.V. (SLB) Price Target to $76.00

Schlumberger N.V. (NYSE:SLB) had its price target cut by J P Morgan Chase & Co from $79.00 to $76.00 in a research report issued on Tuesday. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. J P Morgan Chase & Co’s price objective indicates a potential upside of 15.55% from the stock’s previous close.

A number of other research analysts have also commented on SLB. UBS AG set a $90.00 price target on shares of Schlumberger N.V. and gave the company a “buy” rating in a research report on Friday, June 16th. Sanford C. Bernstein restated an “outperform” rating and set a $80.00 price target on shares of Schlumberger N.V. in a research report on Wednesday, September 6th. Seaport Global Securities restated a “buy” rating on shares of Schlumberger N.V. in a research report on Friday, July 21st. BMO Capital Markets restated a “buy” rating and set a $74.00 price target on shares of Schlumberger N.V. in a research report on Wednesday, September 6th. Finally, BidaskClub lowered shares of Schlumberger N.V. from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $85.80.

Schlumberger N.V. (SLB) traded up 0.81% during midday trading on Tuesday, reaching $66.30. The company’s stock had a trading volume of 1,069,612 shares. The stock has a 50-day moving average price of $65.22 and a 200 day moving average price of $70.93. The company has a market cap of $91.79 billion, a PE ratio of 522.05 and a beta of 1.03. Schlumberger N.V. has a 12 month low of $62.56 and a 12 month high of $87.84.

Schlumberger N.V. (NYSE:SLB) last released its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $7.46 billion during the quarter, compared to analyst estimates of $7.25 billion. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 EPS. Analysts expect that Schlumberger N.V. will post $1.51 earnings per share for the current fiscal year.

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In related news, Director Michael E. Marks purchased 8,000 shares of Schlumberger N.V. stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $64.20 per share, for a total transaction of $513,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Helge Lund purchased 2,800 shares of Schlumberger N.V. stock in a transaction that occurred on Monday, July 24th. The shares were bought at an average price of $66.78 per share, for a total transaction of $186,984.00. The disclosure for this purchase can be found here. 0.38% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Intl Fcstone Inc. purchased a new position in shares of Schlumberger N.V. during the second quarter valued at about $605,000. M Holdings Securities Inc. increased its position in shares of Schlumberger N.V. by 108.2% during the second quarter. M Holdings Securities Inc. now owns 8,264 shares of the oil and gas company’s stock valued at $544,000 after buying an additional 4,294 shares during the period. Griffin Asset Management Inc. purchased a new position in shares of Schlumberger N.V. during the second quarter valued at about $3,774,000. Lord Abbett & CO. LLC increased its position in shares of Schlumberger N.V. by 29.1% during the second quarter. Lord Abbett & CO. LLC now owns 980,653 shares of the oil and gas company’s stock valued at $64,566,000 after buying an additional 220,976 shares during the period. Finally, RNC Capital Management LLC increased its position in shares of Schlumberger N.V. by 46.1% during the second quarter. RNC Capital Management LLC now owns 538,993 shares of the oil and gas company’s stock valued at $35,487,000 after buying an additional 170,162 shares during the period. Institutional investors own 78.99% of the company’s stock.

Schlumberger N.V. Company Profile

Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.

Analyst Recommendations for Schlumberger N.V. (NYSE:SLB)

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