Schlumberger (NYSE:SLB) Earns Outperform Rating from Royal Bank of Canada

Schlumberger (NYSE:SLB)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They presently have a $57.00 price objective on the oil and gas company’s stock. Royal Bank of Canada’s target price points to a potential upside of 36.95% from the stock’s current price.

Other analysts have also issued research reports about the company. TD Cowen upped their target price on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Piper Sandler started coverage on shares of Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Jefferies Financial Group cut their price target on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Finally, Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $41.62 on Tuesday. The company has a 50 day moving average of $40.83 and a 200 day moving average of $42.80. The stock has a market cap of $58.78 billion, a P/E ratio of 13.38, a P/E/G ratio of 3.61 and a beta of 1.52. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger has a 12 month low of $36.52 and a 12 month high of $55.69.

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

Insider Transactions at Schlumberger

In related news, VP Ugo Prechner sold 7,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the sale, the vice president now directly owns 11,240 shares of the company’s stock, valued at approximately $496,808. This represents a 38.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the completion of the transaction, the executive vice president now directly owns 184,626 shares of the company’s stock, valued at $8,140,160.34. This trade represents a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,258 shares of company stock valued at $8,732,604. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Several large investors have recently bought and sold shares of SLB. Wealth Effects LLC purchased a new stake in shares of Schlumberger during the 4th quarter valued at about $360,000. Stonegate Investment Group LLC grew its position in Schlumberger by 22.3% in the 4th quarter. Stonegate Investment Group LLC now owns 27,706 shares of the oil and gas company’s stock worth $1,062,000 after purchasing an additional 5,053 shares during the period. Perigon Wealth Management LLC raised its stake in Schlumberger by 7.3% during the 4th quarter. Perigon Wealth Management LLC now owns 16,859 shares of the oil and gas company’s stock valued at $693,000 after buying an additional 1,146 shares during the last quarter. Jeppson Wealth Management LLC lifted its holdings in shares of Schlumberger by 22.7% during the 4th quarter. Jeppson Wealth Management LLC now owns 6,055 shares of the oil and gas company’s stock valued at $232,000 after buying an additional 1,120 shares during the period. Finally, Fortitude Advisory Group L.L.C. purchased a new position in shares of Schlumberger in the 4th quarter worth $363,000. 81.99% of the stock is currently owned by institutional investors.

About Schlumberger

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.