Morgan Stanley Analysts Give Schlumberger (SLB) a $81.00 Price Target

Morgan Stanley set a $81.00 price objective on Schlumberger (NYSE:SLB) in a report released on Thursday. The brokerage currently has a buy rating on the oil and gas company’s stock.

SLB has been the subject of several other research reports. Piper Jaffray Companies set a $74.00 target price on Schlumberger and gave the stock a buy rating in a research note on Saturday, October 21st. Goldman Sachs Group downgraded Schlumberger from a conviction-buy rating to a buy rating and set a $75.00 target price for the company. in a research note on Monday, November 13th. Royal Bank of Canada set a $73.00 target price on Schlumberger and gave the stock a buy rating in a research note on Thursday, December 21st. Scotiabank set a $80.00 target price on Schlumberger and gave the stock a buy rating in a research note on Saturday, October 21st. Finally, Deutsche Bank initiated coverage on Schlumberger in a research note on Tuesday, October 10th. They set a buy rating and a $78.00 target price for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Schlumberger presently has a consensus rating of Buy and an average price target of $80.15.

Schlumberger (NYSE:SLB) traded up $0.05 on Thursday, reaching $76.42. 13,309,238 shares of the company traded hands, compared to its average volume of 9,290,000. Schlumberger has a 1-year low of $61.02 and a 1-year high of $87.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.53 and a quick ratio of 1.20. The company has a market capitalization of $105,860.00, a PE ratio of 195.95, a price-to-earnings-growth ratio of 5.91 and a beta of 1.01.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 19th. The oil and gas company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The business had revenue of $8.18 billion during the quarter, compared to analysts’ expectations of $8.12 billion. Schlumberger had a net margin of 1.86% and a return on equity of 4.42%. Schlumberger’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 earnings per share. sell-side analysts anticipate that Schlumberger will post 1.46 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Wednesday, February 7th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.62%. Schlumberger’s payout ratio is presently 512.82%.

In related news, Director Tore I. Sandvold sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $62.63, for a total value of $219,205.00. Following the sale, the director now directly owns 1,500 shares in the company, valued at $93,945. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Harding Loevner LP boosted its holdings in shares of Schlumberger by 1,337.3% during the 3rd quarter. Harding Loevner LP now owns 138,957,632 shares of the oil and gas company’s stock worth $569,035,000 after buying an additional 129,289,552 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of Schlumberger by 103.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 16,025,764 shares of the oil and gas company’s stock worth $1,055,136,000 after buying an additional 8,167,945 shares in the last quarter. Dodge & Cox boosted its holdings in shares of Schlumberger by 12.8% during the 2nd quarter. Dodge & Cox now owns 48,271,463 shares of the oil and gas company’s stock worth $3,178,193,000 after buying an additional 5,494,165 shares in the last quarter. Capital International Investors boosted its holdings in shares of Schlumberger by 74.8% during the 3rd quarter. Capital International Investors now owns 10,031,514 shares of the oil and gas company’s stock worth $699,798,000 after buying an additional 4,294,058 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Schlumberger by 33.5% during the 2nd quarter. American Century Companies Inc. now owns 11,117,713 shares of the oil and gas company’s stock worth $731,990,000 after buying an additional 2,791,675 shares in the last quarter. Institutional investors and hedge funds own 79.35% of the company’s stock.

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About Schlumberger

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 (NYSE:SLB)

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