SunTrust Banks Reiterates $82.00 Price Target for Schlumberger (SLB)

SunTrust Banks set a $82.00 target price on Schlumberger (NYSE:SLB) in a research note released on Monday. The firm currently has a buy rating on the oil and gas company’s stock. SunTrust Banks also issued estimates for Schlumberger’s Q4 2019 earnings at $0.99 EPS.

A number of other equities analysts have also issued reports on the company. Credit Suisse Group set a $80.00 target price on Schlumberger and gave the company a buy rating in a research report on Monday. Cowen reaffirmed a buy rating and issued a $77.00 target price on shares of Schlumberger in a research report on Friday, April 13th. Jefferies Group set a $85.00 target price on Schlumberger and gave the company a buy rating in a research report on Wednesday, April 4th. Barclays set a $70.00 target price on Schlumberger and gave the company a hold rating in a research report on Saturday, March 24th. Finally, ValuEngine lowered Schlumberger from a hold rating to a sell rating in a research report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Schlumberger presently has an average rating of Buy and a consensus price target of $79.80.

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NYSE SLB opened at $69.10 on Monday. The company has a market capitalization of $95,366.84, a price-to-earnings ratio of 46.07, a P/E/G ratio of 5.48 and a beta of 1.05. Schlumberger has a fifty-two week low of $61.02 and a fifty-two week high of $80.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.11 and a quick ratio of 0.95.



Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, April 20th. The oil and gas company reported $0.38 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.38. The firm had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $7.79 billion. Schlumberger had a positive return on equity of 5.85% and a negative net margin of 4.01%. Schlumberger’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 EPS. sell-side analysts forecast that Schlumberger will post 2.1 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Wednesday, June 6th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Tuesday, June 5th. Schlumberger’s dividend payout ratio is presently 133.33%.

In related news, CEO Paal Kibsgaard bought 10,000 shares of the company’s stock in a transaction on Monday, March 26th. The shares were purchased at an average cost of $64.68 per share, with a total value of $646,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick Schorn bought 5,000 shares of the company’s stock in a transaction on Monday, March 26th. The stock was bought at an average cost of $64.79 per share, for a total transaction of $323,950.00. The disclosure for this purchase can be found here. Insiders acquired 18,000 shares of company stock worth $1,163,650 over the last ninety days. 0.48% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SLB. Rafferty Asset Management LLC grew its stake in shares of Schlumberger by 9.0% in the second quarter. Rafferty Asset Management LLC now owns 11,891 shares of the oil and gas company’s stock worth $783,000 after purchasing an additional 983 shares in the last quarter. Isthmus Partners LLC grew its stake in shares of Schlumberger by 1.4% in the second quarter. Isthmus Partners LLC now owns 92,291 shares of the oil and gas company’s stock worth $6,076,000 after purchasing an additional 1,246 shares in the last quarter. Pathstone Family Office LLC grew its stake in shares of Schlumberger by 73.3% in the second quarter. Pathstone Family Office LLC now owns 5,035 shares of the oil and gas company’s stock worth $4,410,000 after purchasing an additional 2,129 shares in the last quarter. Tetrem Capital Management Ltd. grew its stake in shares of Schlumberger by 3.4% in the second quarter. Tetrem Capital Management Ltd. now owns 838,598 shares of the oil and gas company’s stock worth $55,213,000 after purchasing an additional 27,657 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in shares of Schlumberger by 4.0% in the second quarter. UBS Asset Management Americas Inc. now owns 4,048,285 shares of the oil and gas company’s stock worth $266,539,000 after purchasing an additional 154,718 shares in the last quarter. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

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Schlumberger Company Profile

Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.

Analyst Recommendations for Schlumberger (NYSE:SLB)

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