Schlumberger (NYSE:SLB) Receives Buy Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their buy rating on shares of Schlumberger (NYSE:SLB) in a report issued on Thursday, AnalystRatings.com reports. The firm currently has a $27.00 price objective on the oil and gas company’s stock.

A number of other equities research analysts also recently issued reports on the stock. Credit Suisse Group reiterated a hold rating and issued a $36.00 target price on shares of Schlumberger in a research report on Wednesday, January 22nd. Cfra lowered shares of Schlumberger from a hold rating to a sell rating and dropped their price target for the stock from $42.00 to $15.00 in a research note on Monday, March 9th. Stifel Nicolaus dropped their price target on shares of Schlumberger from $47.00 to $34.00 and set a buy rating on the stock in a research note on Tuesday, March 10th. UBS Group lowered shares of Schlumberger from a buy rating to a neutral rating and dropped their price target for the stock from $47.00 to $30.00 in a research note on Tuesday, March 3rd. Finally, Citigroup dropped their price target on shares of Schlumberger from $17.00 to $11.50 and set a neutral rating on the stock in a research note on Friday, March 20th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $35.08.

SLB stock traded down $1.76 during midday trading on Thursday, reaching $13.76. The company had a trading volume of 21,789,447 shares, compared to its average volume of 29,917,926. Schlumberger has a 1 year low of $11.87 and a 1 year high of $48.88. The company has a current ratio of 1.19, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $21.49 billion, a P/E ratio of -1.88, a PEG ratio of 1.30 and a beta of 1.68. The company has a 50 day moving average of $25.24 and a two-hundred day moving average of $33.54.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Schlumberger had a negative net margin of 30.80% and a positive return on equity of 6.77%. The company had revenue of $8.23 billion during the quarter, compared to the consensus estimate of $8.16 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The company’s revenue was up .6% compared to the same quarter last year. On average, sell-side analysts anticipate that Schlumberger will post 1.12 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Wednesday, February 12th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 14.53%. The ex-dividend date is Tuesday, February 11th. Schlumberger’s payout ratio is 136.05%.

In other news, insider Rajeev Sonthalia purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was purchased at an average cost of $35.24 per share, with a total value of $35,240.00. Following the acquisition, the insider now directly owns 13,829 shares of the company’s stock, valued at approximately $487,333.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vijay Kasibhatla purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were purchased at an average cost of $17.05 per share, with a total value of $34,100.00. Following the completion of the acquisition, the director now directly owns 29,362 shares in the company, valued at $500,622.10. The disclosure for this purchase can be found here. Company insiders own 0.58% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SLB. Ancora Advisors LLC lifted its position in shares of Schlumberger by 0.7% in the third quarter. Ancora Advisors LLC now owns 35,572 shares of the oil and gas company’s stock worth $1,215,000 after purchasing an additional 255 shares in the last quarter. Close Asset Management Ltd grew its stake in shares of Schlumberger by 0.3% in the fourth quarter. Close Asset Management Ltd now owns 90,595 shares of the oil and gas company’s stock valued at $3,641,000 after acquiring an additional 300 shares in the last quarter. Duff & Phelps Investment Management Co. grew its stake in shares of Schlumberger by 2.0% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 15,435 shares of the oil and gas company’s stock valued at $620,000 after acquiring an additional 300 shares in the last quarter. Regent Investment Management LLC grew its stake in shares of Schlumberger by 4.5% in the fourth quarter. Regent Investment Management LLC now owns 6,986 shares of the oil and gas company’s stock valued at $281,000 after acquiring an additional 300 shares in the last quarter. Finally, Beaton Management Co. Inc. grew its stake in shares of Schlumberger by 4.6% in the fourth quarter. Beaton Management Co. Inc. now owns 6,864 shares of the oil and gas company’s stock valued at $275,000 after acquiring an additional 300 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

Schlumberger Company Profile

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Analyst Recommendations for Schlumberger (NYSE:SLB)

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