Schlumberger (NYSE:SLB) Upgraded by Sanford C. Bernstein to Strong-Buy Rating

Schlumberger (NYSE:SLB - Get Free Report) was upgraded by equities research analysts at Sanford C. Bernstein to a "strong-buy" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. BMO Capital Markets dropped their price target on Schlumberger from $60.00 to $58.00 and set an "outperform" rating for the company in a research note on Thursday, October 10th. Stifel Nicolaus reissued a "buy" rating and set a $60.00 price target (down from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Barclays lowered their price objective on Schlumberger from $67.00 to $63.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. JPMorgan Chase & Co. cut their target price on shares of Schlumberger from $64.00 to $60.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 1st. Finally, Piper Sandler reduced their target price on shares of Schlumberger from $71.00 to $66.00 and set an "overweight" rating on the stock in a report on Monday, July 15th. Two investment 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 data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $60.97.

Schlumberger Price Performance

Shares of SLB traded down $0.27 during midday trading on Tuesday, hitting $43.32. The company's stock had a trading volume of 5,340,236 shares, compared to its average volume of 11,262,858. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger has a one year low of $38.66 and a one year high of $55.69. The stock has a market capitalization of $61.17 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 1.56 and a beta of 1.52. The company's fifty day simple moving average is $42.31 and its two-hundred day simple moving average is $44.76.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm 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%. The business's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share. As a group, equities analysts expect that Schlumberger will post 3.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the company's stock in a transaction that occurred on 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Schlumberger

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Schlumberger by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company's stock valued at $7,352,771,000 after buying an additional 1,868,688 shares during the last quarter. Capital World Investors raised its position in Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company's stock valued at $4,875,402,000 after buying an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Schlumberger by 14.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company's stock worth $4,712,897,000 after acquiring an additional 10,606,191 shares during the period. Legal & General Group Plc lifted its holdings in Schlumberger by 14.0% during the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company's stock worth $598,544,000 after acquiring an additional 1,560,684 shares during the period. Finally, Boston Partners boosted its position in Schlumberger by 35.8% in the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company's stock worth $635,883,000 after purchasing an additional 3,069,395 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

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.