Schlumberger (NYSE:SLB) Earns “Overweight” Rating from Morgan Stanley

Schlumberger (NYSE:SLBGet Free Report)‘s stock had its “overweight” rating reiterated by investment analysts at Morgan Stanley in a report issued on Monday, Benzinga reports. They presently have a $65.00 price objective on the oil and gas company’s stock. Morgan Stanley’s price target would indicate a potential upside of 31.18% from the stock’s previous close.

A number of other research firms have also recently weighed in on SLB. The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. HSBC restated a “buy” rating and issued a $71.00 price target on shares of Schlumberger in a research note on Thursday, April 4th. Stifel Nicolaus reiterated a “buy” rating and issued a $64.00 price objective on shares of Schlumberger in a report on Monday. Benchmark restated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Monday. Finally, BMO Capital Markets reduced their target price on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a report on Monday. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.67.

View Our Latest Stock Analysis on SLB

Schlumberger Stock Up 0.1 %

SLB opened at $49.55 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. Schlumberger has a one year low of $42.73 and a one year high of $62.12. The business’s 50-day simple moving average is $51.68 and its 200-day simple moving average is $52.28. The stock has a market capitalization of $70.73 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60.

Schlumberger (NYSE:SLBGet Free Report) last issued its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS. Analysts anticipate that Schlumberger will post 3.51 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the transaction, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now directly 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. Insiders sold a total of 110,768 shares of company stock worth $5,511,037 in the last quarter. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Schlumberger

A number of large investors have recently modified their holdings of the stock. BluePath Capital Management LLC bought a new stake in Schlumberger in the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Schlumberger during the fourth quarter worth $26,000. Register Financial Advisors LLC bought a new stake in shares of Schlumberger during the first quarter worth $27,000. MCF Advisors LLC increased its position in shares of Schlumberger by 1,355.9% during the third quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 461 shares in the last quarter. Finally, Transcendent Capital Group LLC bought a new position in Schlumberger in the fourth quarter valued at $32,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

About Schlumberger

(Get Free Report)

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.

See Also

Analyst Recommendations for Schlumberger (NYSE:SLB)

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