Jefferies Group Reiterates $85.00 Price Target for Schlumberger (SLB)

Jefferies Group set a $85.00 price objective on Schlumberger (NYSE:SLB) in a report published on Wednesday morning. The firm currently has a buy rating on the oil and gas company’s stock. Jefferies Group also issued estimates for Schlumberger’s Q1 2018 earnings at $0.37 EPS, Q2 2018 earnings at $0.46 EPS, Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.57 EPS, FY2018 earnings at $1.95 EPS, FY2019 earnings at $3.00 EPS and FY2020 earnings at $4.60 EPS.

A number of other research firms have also recently weighed in on SLB. ValuEngine cut Schlumberger from a hold rating to a sell rating in a report on Thursday, March 1st. Credit Suisse Group set a $86.00 price target on Schlumberger and gave the stock a buy rating in a report on Wednesday, March 14th. B. Riley set a $80.00 price target on Schlumberger and gave the stock a buy rating in a report on Wednesday, January 3rd. SunTrust Banks upped their price target on Schlumberger from $72.00 to $80.00 and gave the stock a hold rating in a report on Tuesday, January 23rd. Finally, Zacks Investment Research cut Schlumberger from a hold rating to a sell rating in a report on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $81.23.

SLB opened at $64.36 on Wednesday. The company has a market capitalization of $91,021.27, a P/E ratio of 42.91, a PEG ratio of 5.19 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.95 and a current ratio of 1.21. Schlumberger has a 1-year low of $61.02 and a 1-year high of $80.89.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The business had revenue of $8.18 billion for the quarter, compared to analysts’ expectations of $8.12 billion. Schlumberger had a positive return on equity of 5.27% and a negative net margin of 4.94%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS. equities research analysts forecast that Schlumberger will post 2.11 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Wednesday, February 7th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Tuesday, February 6th. Schlumberger’s dividend payout ratio (DPR) is 133.33%.

In related news, insider Howard Guild sold 25,000 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $78.26, for a total value of $1,956,500.00. Following the transaction, the insider now directly owns 22,410 shares of the company’s stock, valued at approximately $1,753,806.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Simon Ayat sold 75,000 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $78.86, for a total value of $5,914,500.00. Following the completion of the transaction, the chief financial officer now directly owns 138,827 shares in the company, valued at $10,947,897.22. The disclosure for this sale can be found here. Insiders have bought 18,000 shares of company stock worth $1,163,650 in the last 90 days. Insiders own 0.48% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of SLB. Nationwide Fund Advisors raised its position in shares of Schlumberger by 19.1% in the 2nd quarter. Nationwide Fund Advisors now owns 1,099,366 shares of the oil and gas company’s stock worth $72,382,000 after buying an additional 176,501 shares during the period. Amalgamated Bank raised its position in Schlumberger by 59.8% in the second quarter. Amalgamated Bank now owns 156,467 shares of the oil and gas company’s stock valued at $10,302,000 after purchasing an additional 58,583 shares during the period. BT Investment Management Ltd purchased a new position in Schlumberger in the second quarter valued at about $318,000. Choate Investment Advisors raised its position in Schlumberger by 0.4% in the second quarter. Choate Investment Advisors now owns 14,516 shares of the oil and gas company’s stock valued at $956,000 after purchasing an additional 60 shares during the period. Finally, Sandy Spring Bank raised its position in Schlumberger by 0.6% in the second quarter. Sandy Spring Bank now owns 85,520 shares of the oil and gas company’s stock valued at $5,638,000 after purchasing an additional 540 shares during the period. 79.90% of the stock is currently owned by institutional investors and hedge funds.

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About Schlumberger

Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.

Analyst Recommendations for Schlumberger (NYSE:SLB)

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