Citigroup Forecasts Strong Price Appreciation for Schlumberger (NYSE:SLB) Stock

Schlumberger (NYSE:SLB) had its price objective raised by equities research analysts at Citigroup from $50.00 to $54.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Citigroup’s price objective points to a potential upside of 24.34% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Barclays cut their price objective on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Wells Fargo & Company lowered their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Bank of America decreased their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. upped their price objective on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Stock Down 0.3 %

Shares of SLB stock traded down $0.15 on Tuesday, hitting $43.43. The stock had a trading volume of 15,500,498 shares, compared to its average volume of 13,940,633. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The business has a 50 day moving average of $40.84 and a 200 day moving average of $42.81. Schlumberger has a 12-month low of $36.52 and a 12-month high of $55.69. The stock has a market cap of $61.33 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 3.61 and a beta of 1.52.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9,241,140 billion. During the same quarter last year, the business posted $0.86 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, analysts expect that Schlumberger will post 3.29 EPS for the current year.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Institutional investors have recently modified their holdings of the company. Flagship Harbor Advisors LLC grew its position in Schlumberger by 89.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 16,892 shares of the oil and gas company’s stock worth $648,000 after acquiring an additional 7,990 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Schlumberger during the 4th quarter valued at $25,481,000. Geneos Wealth Management Inc. boosted its position in Schlumberger by 9.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 51,792 shares of the oil and gas company’s stock valued at $1,986,000 after buying an additional 4,603 shares during the period. apricus wealth LLC grew its holdings in Schlumberger by 60.3% in the 4th quarter. apricus wealth LLC now owns 88,100 shares of the oil and gas company’s stock worth $3,378,000 after acquiring an additional 33,140 shares during the last quarter. Finally, Gradient Investments LLC raised its position in Schlumberger by 15.5% during the 4th quarter. Gradient Investments LLC now owns 688,669 shares of the oil and gas company’s stock valued at $26,404,000 after purchasing an additional 92,514 shares during the last quarter. 81.99% of the stock is currently owned by 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.