Schlumberger (SLB) Rating Increased to Hold at ValuEngine

ValuEngine upgraded shares of Schlumberger (NYSE:SLB) from a sell rating to a hold rating in a research note published on Thursday morning.

Several other research firms also recently commented on SLB. Stifel Nicolaus started coverage on shares of Schlumberger in a report on Monday, September 10th. They issued a hold rating and a $69.00 price objective on the stock. Seaport Global Securities set a $72.00 price objective on shares of Schlumberger and gave the company a buy rating in a report on Monday, July 23rd. Citigroup dropped their price objective on shares of Schlumberger from $84.00 to $79.00 and set a buy rating on the stock in a report on Wednesday, June 13th. Morgan Stanley started coverage on shares of Schlumberger in a report on Tuesday, September 18th. They issued an equal weight rating and a $72.00 price objective on the stock. Finally, Piper Jaffray Companies reaffirmed a buy rating and issued a $80.00 price objective on shares of Schlumberger in a report on Monday, July 23rd. Eight analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $78.55.

SLB stock opened at $63.00 on Thursday. The firm has a market capitalization of $84.32 billion, a PE ratio of 42.00, a price-to-earnings-growth ratio of 5.68 and a beta of 0.93. The company has a current ratio of 1.12, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38. Schlumberger has a 12 month low of $59.25 and a 12 month high of $80.35.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 20th. The oil and gas company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. The business had revenue of $8.30 billion for the quarter, compared to the consensus estimate of $8.35 billion. Schlumberger had a negative net margin of 2.34% and a positive return on equity of 6.25%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 EPS. On average, research analysts expect that Schlumberger will post 1.79 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Wednesday, September 5th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Tuesday, September 4th. Schlumberger’s dividend payout ratio is currently 133.33%.

In other news, Director Michael E. Marks bought 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The stock was purchased at an average cost of $60.31 per share, for a total transaction of $482,480.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

A number of large investors have recently bought and sold shares of SLB. Mainstay Capital Management LLC ADV raised its position in Schlumberger by 3,884.1% during the second quarter. Mainstay Capital Management LLC ADV now owns 6,773 shares of the oil and gas company’s stock worth $105,000 after acquiring an additional 6,603 shares during the period. Moneta Group Investment Advisors LLC raised its position in Schlumberger by 909.1% during the second quarter. Moneta Group Investment Advisors LLC now owns 22,352 shares of the oil and gas company’s stock worth $138,000 after acquiring an additional 20,137 shares during the period. SRS Capital Advisors Inc. raised its position in Schlumberger by 57.6% during the first quarter. SRS Capital Advisors Inc. now owns 2,323 shares of the oil and gas company’s stock worth $150,000 after acquiring an additional 849 shares during the period. McKinley Carter Wealth Services Inc. acquired a new position in Schlumberger during the first quarter worth $154,000. Finally, Squar Milner Financial Services LLC acquired a new position in Schlumberger during the second quarter worth $157,000. Institutional investors own 78.43% of the company’s stock.

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.

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Analyst Recommendations for Schlumberger (NYSE:SLB)

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