Zacks Investment Research upgraded shares of Schlumberger N.V. (NYSE:SLB) from a sell rating to a hold rating in a research note released on Friday.
According to Zacks, “Schlumberger is the world's largest oilfield services company. The continued and effective cost-management initiatives are noteworthy. Higher activities in the land market of the U.S and fracturing work recovery in North America also are commendable. Moreover, the strength in its fundamentals is reflected through its attractive dividend yield. The company’s focus on international markets deserves appreciation. Despite these positives, since 2015, Schlumberger’s long-term debt load increased considerably. Moreover, the company’s cash balance continues to plunge over the last seven quarters, reflecting significant balance sheet weakness. Schlumberger has lesser exposure to the U.S. shale plays – where drillers might start gathering again as crude is trading above $50-per-barrel mark. Thus, Schlumberger is losing out on the opportunity to gain profitable contracts from shale drillers of late.”
A number of other analysts also recently issued reports on the stock. B. Riley restated a buy rating on shares of Schlumberger N.V. in a report on Friday, November 3rd. SunTrust Banks, Inc. restated a hold rating on shares of Schlumberger N.V. in a report on Tuesday, October 31st. Loop Capital decreased their price objective on shares of Schlumberger N.V. from $80.00 to $75.00 and set a buy rating for the company in a report on Thursday, October 26th. Citigroup Inc. decreased their price objective on shares of Schlumberger N.V. from $80.00 to $76.00 and set a buy rating for the company in a report on Wednesday, October 25th. Finally, Barclays PLC set a $70.00 price objective on shares of Schlumberger N.V. and gave the stock a hold rating in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $79.31.
Schlumberger N.V. (NYSE SLB) traded down $1.28 on Friday, hitting $63.77. 3,156,390 shares of the company were exchanged, compared to its average volume of 6,993,735. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.53 and a quick ratio of 1.20. Schlumberger N.V. has a one year low of $61.40 and a one year high of $87.84. The company has a market capitalization of $91,067.12, a price-to-earnings ratio of 50.96, a P/E/G ratio of 2.01 and a beta of 1.02.
Schlumberger N.V. (NYSE:SLB) last released its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. Schlumberger N.V. had a net margin of 1.86% and a return on equity of 4.42%. The company had revenue of $7.91 billion for the quarter, compared to analyst estimates of $7.91 billion. During the same period last year, the firm earned $0.25 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. analysts predict that Schlumberger N.V. will post 1.47 earnings per share for the current year.
In related news, Director Tore I. Sandvold sold 3,500 shares of Schlumberger N.V. stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total value of $219,205.00. Following the transaction, the director now directly owns 1,500 shares of the company’s stock, valued at $93,945. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.38% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Valley National Advisers Inc. increased its stake in shares of Schlumberger N.V. by 0.3% in the second quarter. Valley National Advisers Inc. now owns 2,594 shares of the oil and gas company’s stock worth $171,000 after buying an additional 8 shares during the period. Wealth Architects LLC increased its stake in shares of Schlumberger N.V. by 0.3% in the first quarter. Wealth Architects LLC now owns 4,003 shares of the oil and gas company’s stock worth $313,000 after buying an additional 13 shares during the period. Syntal Capital Partners LLC increased its stake in shares of Schlumberger N.V. by 0.5% in the first quarter. Syntal Capital Partners LLC now owns 5,613 shares of the oil and gas company’s stock worth $439,000 after buying an additional 29 shares during the period. Family Legacy Inc. increased its position in Schlumberger N.V. by 0.9% during the 2nd quarter. Family Legacy Inc. now owns 3,372 shares of the oil and gas company’s stock valued at $222,000 after purchasing an additional 30 shares during the period. Finally, Frontier Wealth Management LLC increased its position in Schlumberger N.V. by 0.4% during the 2nd quarter. Frontier Wealth Management LLC now owns 8,229 shares of the oil and gas company’s stock valued at $542,000 after purchasing an additional 35 shares during the period. 79.13% of the stock is currently owned by institutional investors.
About Schlumberger N.V.
Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Schlumberger N.V. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger N.V. and related companies with MarketBeat.com's FREE daily email newsletter.