Schlumberger (NYSE:SLB) Coverage Initiated by Analysts at Piper Sandler

Investment analysts at Piper Sandler started coverage on shares of Schlumberger (NYSE:SLB) in a research note issued on Thursday, MarketBeat.com reports. The firm set a “neutral” rating and a $47.00 price target on the oil and gas company’s stock. Piper Sandler’s price target would indicate a potential upside of 25.90% from the company’s current price.

A number of other brokerages also recently commented on SLB. Bank of America dropped their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Citigroup decreased their target price on Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, December 9th. UBS Group dropped their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Dbs Bank assumed coverage on shares of Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective on the stock. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.03.

Schlumberger Price Performance

Schlumberger stock opened at $37.33 on Thursday. The company has a 50-day moving average price of $42.38 and a 200 day moving average price of $43.85. The stock has a market cap of $52.72 billion, a P/E ratio of 12.00, a PEG ratio of 1.42 and a beta of 1.51. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger has a 12-month low of $37.28 and a 12-month high of $55.69.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. Sell-side analysts anticipate that Schlumberger will post 3.39 earnings per share for the current year.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Schlumberger

Institutional investors and hedge funds have recently made changes to their positions in the business. Ceredex Value Advisors LLC purchased a new stake in Schlumberger during the second quarter valued at about $92,944,000. 1832 Asset Management L.P. purchased a new stake in shares of Schlumberger during the 2nd quarter worth about $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Schlumberger by 20.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after buying an additional 1,916,851 shares in the last quarter. Legal & General Group Plc increased its position in shares of Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after acquiring an additional 1,560,684 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Schlumberger by 14.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock valued at $333,445,000 after acquiring an additional 915,705 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.