Schlumberger (NYSE:SLB) Now Covered by Analysts at BMO Capital Markets

Investment analysts at BMO Capital Markets began coverage on shares of Schlumberger (NYSE:SLB) in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage set an “outperform” rating on the oil and gas company’s stock.

SLB has been the topic of a number of other research reports. Citigroup raised Schlumberger from a “neutral” rating to a “buy” rating and increased their price target for the company from $20.00 to $26.00 in a research note on Monday, July 27th. Morgan Stanley raised their target price on Schlumberger from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Bank of America upped their price target on Schlumberger from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, June 17th. UBS Group lifted their price objective on shares of Schlumberger from $18.00 to $19.50 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Schlumberger from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $23.16.

Schlumberger stock traded down $0.55 during trading hours on Thursday, reaching $15.01. 17,891,311 shares of the company’s stock traded hands, compared to its average volume of 16,189,224. The firm has a market capitalization of $21.60 billion, a price-to-earnings ratio of -0.95, a PEG ratio of 4.71 and a beta of 2.10. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.92 and a current ratio of 1.23. Schlumberger has a fifty-two week low of $11.87 and a fifty-two week high of $41.14. The firm’s 50 day moving average is $18.58 and its 200-day moving average is $17.70.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 24th. The oil and gas company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. Schlumberger had a negative net margin of 73.90% and a positive return on equity of 8.12%. The business had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same period in the prior year, the business posted $0.35 earnings per share. Schlumberger’s revenue was down 35.5% compared to the same quarter last year. Analysts predict that Schlumberger will post 0.56 EPS for the current year.

In other Schlumberger news, CEO Peuch Olivier Le purchased 25,000 shares of the stock in a transaction on Monday, September 14th. The shares were purchased at an average price of $17.95 per share, with a total value of $448,750.00. Following the completion of the transaction, the chief executive officer now directly owns 191,770 shares in the company, valued at $3,442,271.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark G. Papa acquired 15,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was acquired at an average cost of $19.46 per share, with a total value of $291,900.00. Following the completion of the transaction, the director now owns 50,131 shares of the company’s stock, valued at $975,549.26. The disclosure for this purchase can be found here. 0.58% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Cerebellum GP LLC bought a new position in Schlumberger in the 2nd quarter valued at about $74,000. Banco de Sabadell S.A grew its holdings in Schlumberger by 66.7% in the 1st quarter. Banco de Sabadell S.A now owns 2,000 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 800 shares in the last quarter. Allworth Financial LP increased its position in Schlumberger by 59.0% during the 2nd quarter. Allworth Financial LP now owns 2,075 shares of the oil and gas company’s stock worth $38,000 after buying an additional 770 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of Schlumberger by 97.2% during the second quarter. Lindbrook Capital LLC now owns 2,489 shares of the oil and gas company’s stock worth $46,000 after buying an additional 1,227 shares in the last quarter. Finally, Trustcore Financial Services LLC boosted its position in shares of Schlumberger by 62.9% in the second quarter. Trustcore Financial Services LLC now owns 2,546 shares of the oil and gas company’s stock valued at $47,000 after acquiring an additional 983 shares during the period. 72.50% of the stock is owned by hedge funds and other institutional investors.

About Schlumberger

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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The Fly

Analyst Recommendations for Schlumberger (NYSE:SLB)

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