Schlumberger (NYSE:SLB) Upgraded to “Buy” by Benchmark

Schlumberger (NYSE:SLBGet Rating) was upgraded by equities researchers at Benchmark from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, MarketBeat reports. The firm currently has a $55.00 target price on the oil and gas company’s stock. Benchmark’s price target suggests a potential upside of 54.02% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Stifel Nicolaus increased their price target on Schlumberger from $44.00 to $50.00 in a report on Friday, April 8th. Morgan Stanley dropped their price target on Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 13th. HSBC upgraded Schlumberger from a “hold” rating to a “buy” rating and raised their target price for the company from $4.60 to $44.20 in a research report on Wednesday, April 27th. Cowen raised their target price on Schlumberger from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Piper Sandler upgraded Schlumberger from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $43.00 to $55.00 in a research report on Monday, April 11th. Seventeen research analysts have rated the stock with a buy rating, According to MarketBeat, Schlumberger presently has an average rating of “Buy” and a consensus target price of $47.15.

Schlumberger Stock Down 1.7 %

Shares of NYSE:SLB opened at $35.71 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.35 and a debt-to-equity ratio of 0.78. Schlumberger has a 52-week low of $25.90 and a 52-week high of $49.83. The stock’s fifty day simple moving average is $39.17 and its 200-day simple moving average is $39.87. The company has a market capitalization of $50.47 billion, a P/E ratio of 19.41, a P/E/G ratio of 0.52 and a beta of 1.93.

Schlumberger (NYSE:SLBGet Rating) last released its earnings results on Friday, July 22nd. The oil and gas company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.40 by $0.10. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.28 billion. Schlumberger had a return on equity of 15.06% and a net margin of 10.56%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 earnings per share. As a group, equities research analysts forecast that Schlumberger will post 1.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Limited/Nv Schlumberger sold 14,500,000 shares of the stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $15.50, for a total transaction of $224,750,000.00. Following the completion of the sale, the insider now directly owns 35,101,961 shares of the company’s stock, valued at $544,080,395.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Vijay Kasibhatla sold 20,000 shares of Schlumberger stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $43.32, for a total value of $866,400.00. Following the transaction, the director now owns 46,529 shares in the company, valued at $2,015,636.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Limited/Nv Schlumberger sold 14,500,000 shares of Schlumberger stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $15.50, for a total value of $224,750,000.00. Following the completion of the transaction, the insider now owns 35,101,961 shares in the company, valued at approximately $544,080,395.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,567,459 shares of company stock worth $430,840,521. Corporate insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLB. Vanguard Group Inc. boosted its holdings in Schlumberger by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 121,361,420 shares of the oil and gas company’s stock worth $5,013,440,000 after buying an additional 1,510,608 shares during the period. BlackRock Inc. lifted its holdings in shares of Schlumberger by 16.9% in the 4th quarter. BlackRock Inc. now owns 111,487,119 shares of the oil and gas company’s stock valued at $3,339,042,000 after acquiring an additional 16,123,949 shares during the last quarter. State Street Corp raised its position in Schlumberger by 0.6% in the 4th quarter. State Street Corp now owns 91,556,288 shares of the oil and gas company’s stock worth $2,753,092,000 after purchasing an additional 554,778 shares during the period. Norges Bank purchased a new stake in Schlumberger in the 4th quarter worth about $938,856,000. Finally, GQG Partners LLC increased its position in shares of Schlumberger by 1,413.5% during the first quarter. GQG Partners LLC now owns 27,916,533 shares of the oil and gas company’s stock worth $1,153,123,000 after acquiring an additional 26,072,056 shares during the period. 76.34% of the stock is owned by institutional investors.

Schlumberger Company Profile

(Get Rating)

Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

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Analyst Recommendations for Schlumberger (NYSE:SLB)

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