Schlumberger (NYSE:SLB) Coverage Initiated by Analysts at Oddo Bhf

Oddo Bhf initiated coverage on shares of Schlumberger (NYSE:SLB) in a report issued on Thursday, The Fly reports. The brokerage set an “outperform” rating and a $44.50 price target on the oil and gas company’s stock. Oddo Bhf’s target price would indicate a potential upside of 34.08% from the stock’s current price.

Several other research analysts also recently commented on SLB. JPMorgan Chase & Co. upgraded Schlumberger from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $28.00 to $37.00 in a report on Thursday, October 7th. Oddo Securities began coverage on Schlumberger in a report on Thursday. They set an “outperform” rating and a $44.50 price objective on the stock. Cowen restated an “outperform” rating and set a $29.03 price objective (down from $32.00) on shares of Schlumberger in a report on Monday, July 26th. HSBC upgraded Schlumberger from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $18.10 to $25.00 in a report on Wednesday, August 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $37.00 price target on shares of Schlumberger in a report on Thursday, September 9th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Schlumberger has a consensus rating of “Buy” and a consensus price target of $32.69.

Shares of NYSE SLB traded up $0.43 during midday trading on Thursday, hitting $33.19. The company’s stock had a trading volume of 68,606 shares, compared to its average volume of 12,605,433. The company has a current ratio of 1.37, a quick ratio of 1.00 and a debt-to-equity ratio of 1.20. The business’s 50 day moving average is $28.73 and its two-hundred day moving average is $29.75. Schlumberger has a 12-month low of $13.70 and a 12-month high of $36.87. The firm has a market cap of $46.41 billion, a P/E ratio of 46.06 and a beta of 2.39.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Thursday, July 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.04. The firm had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.52 billion. Schlumberger had a return on equity of 9.96% and a net margin of 4.72%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 earnings per share. On average, analysts predict that Schlumberger will post 1.25 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in Schlumberger by 43.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 116,515 shares of the oil and gas company’s stock valued at $3,730,000 after buying an additional 35,481 shares during the last quarter. Lodge Hill Capital LLC increased its holdings in Schlumberger by 58.0% in the second quarter. Lodge Hill Capital LLC now owns 395,000 shares of the oil and gas company’s stock valued at $12,644,000 after buying an additional 145,000 shares during the last quarter. Discerene Group LP increased its holdings in Schlumberger by 4.5% in the second quarter. Discerene Group LP now owns 3,536,457 shares of the oil and gas company’s stock valued at $113,202,000 after buying an additional 153,000 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Schlumberger by 8.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 436,771 shares of the oil and gas company’s stock valued at $13,857,000 after buying an additional 33,475 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Schlumberger by 129.0% in the first quarter. Canada Pension Plan Investment Board now owns 1,592,870 shares of the oil and gas company’s stock valued at $43,310,000 after buying an additional 897,159 shares during the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

About Schlumberger

Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration; Reservoir Performance; Well Construction; and Production Systems. The Digital and Integration segment combines the company’s software and seismic businesses with its integrated offering of asset performance solutions.

Further Reading: Average Daily Trade Volume Explained

The Fly logo

Analyst Recommendations for Schlumberger (NYSE:SLB)

Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.