Schlumberger (NYSE:SLB) Given a $43.00 Price Target by Bank of America Analysts

Schlumberger (NYSE:SLB) received a $43.00 price target from equities research analysts at Bank of America in a research note issued to investors on Monday, TipRanks reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Bank of America‘s price target indicates a potential upside of 21.71% from the stock’s current price.

Other research analysts have also issued reports about the company. Morgan Stanley dropped their price objective on Schlumberger from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. ValuEngine upgraded Schlumberger from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Citigroup dropped their price objective on Schlumberger from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Wells Fargo & Co dropped their price objective on Schlumberger from $44.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Barclays set a $47.00 price objective on Schlumberger and gave the stock a “buy” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $44.82.

Shares of NYSE SLB traded up $0.51 during trading hours on Monday, reaching $35.33. The stock had a trading volume of 12,890,149 shares, compared to its average volume of 10,796,906. The business’s fifty day moving average is $34.33 and its two-hundred day moving average is $37.54. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.29 and a quick ratio of 1.01. The company has a market cap of $46.46 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 2.93 and a beta of 1.49. Schlumberger has a twelve month low of $30.65 and a twelve month high of $55.61.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Schlumberger had a positive return on equity of 6.00% and a negative net margin of 30.22%. The firm had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period in the prior year, the company posted $0.46 earnings per share. The business’s revenue for the quarter was up .4% compared to the same quarter last year. Sell-side analysts forecast that Schlumberger will post 1.47 earnings per share for the current fiscal year.

In related news, insider Stephanie Cox sold 24,057 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $40.59, for a total value of $976,473.63. Following the transaction, the insider now owns 46,354 shares in the company, valued at $1,881,508.86. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Simon Farrant sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $33.55, for a total value of $167,750.00. Following the completion of the transaction, the vice president now owns 20,316 shares in the company, valued at approximately $681,601.80. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Schlumberger by 1.0% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 25,410 shares of the oil and gas company’s stock worth $1,010,000 after acquiring an additional 262 shares during the period. Pendal Group Ltd lifted its holdings in shares of Schlumberger by 1.5% in the 2nd quarter. Pendal Group Ltd now owns 18,636 shares of the oil and gas company’s stock valued at $703,000 after acquiring an additional 269 shares during the last quarter. Artemis Investment Management LLP raised its position in Schlumberger by 4.9% in the 2nd quarter. Artemis Investment Management LLP now owns 6,260 shares of the oil and gas company’s stock worth $248,000 after purchasing an additional 293 shares during the period. Glassman Wealth Services raised its position in Schlumberger by 6.0% in the 2nd quarter. Glassman Wealth Services now owns 5,177 shares of the oil and gas company’s stock worth $206,000 after purchasing an additional 295 shares during the period. Finally, Truvestments Capital LLC raised its position in Schlumberger by 19.6% in the 2nd quarter. Truvestments Capital LLC now owns 1,860 shares of the oil and gas company’s stock worth $74,000 after purchasing an additional 305 shares during the period. Hedge funds and other institutional investors own 76.66% of the company’s stock.

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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