Schlumberger (NYSE:SLB) Rating Increased to Strong-Buy at Sanford C. Bernstein

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

SLB has been the topic of several other research reports. Piper Sandler dropped their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Bank of America dropped their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Stifel Nicolaus reissued a “buy” rating and issued a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Morgan Stanley decreased their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, Wells Fargo & Company cut their price target on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Price Performance

SLB stock opened at $43.59 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The business has a 50-day simple moving average of $42.31 and a two-hundred day simple moving average of $44.76. The company has a market capitalization of $61.56 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 1.56 and a beta of 1.52. Schlumberger has a 52-week low of $38.66 and a 52-week high of $55.69.

Schlumberger (NYSE:SLB) last announced its quarterly 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 business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 earnings per share. Research analysts expect that Schlumberger will post 3.4 EPS for the current fiscal year.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was 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 approximately $8,880,160.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Financial Advocates Investment Management boosted its stake in shares of Schlumberger by 3.4% during the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 218 shares during the period. Chilton Capital Management LLC raised its holdings in Schlumberger by 0.8% during the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after buying an additional 219 shares during the last quarter. Grove Bank & Trust boosted its position in Schlumberger by 17.4% during the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after buying an additional 224 shares during the period. First PREMIER Bank grew its holdings in Schlumberger by 8.7% in the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 227 shares during the last quarter. Finally, Addison Advisors LLC increased its position in shares of Schlumberger by 6.5% in the second quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock valued at $179,000 after acquiring an additional 233 shares during the period. 81.99% of the stock is 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.