Schlumberger (NYSE:SLB) Upgraded at Sanford C. Bernstein

Schlumberger (NYSE:SLB) was upgraded by investment analysts at Sanford C. Bernstein to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

A number of other brokerages have also recently issued reports on SLB. Susquehanna dropped their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Stifel Nicolaus reissued a “buy” rating and set a $60.00 target price (down from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Dbs Bank began coverage on Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price on the stock. Citigroup decreased their target price on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, UBS Group decreased their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Price Performance

Schlumberger stock opened at $43.59 on Tuesday. Schlumberger has a 1 year low of $38.66 and a 1 year high of $55.69. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $61.56 billion, a P/E ratio of 14.02, a PEG ratio of 1.56 and a beta of 1.52. The business has a 50-day moving average of $42.26 and a 200-day moving average of $44.77.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion for 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 business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. On average, equities analysts anticipate that Schlumberger will post 3.4 EPS for the current year.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was 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 directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Large investors have recently bought and sold shares of the company. ORG Partners LLC increased its stake in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares during the period. Bruce G. Allen Investments LLC increased its stake in shares of Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 392 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Schlumberger in the third quarter valued at about $29,000. Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger in the second quarter valued at about $30,000. Finally, Riverview Trust Co increased its stake in shares of Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 308 shares during the period. 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.