Schlumberger (NYSE:SLB) Earns Buy Rating from Analysts at Melius

Key Points

• Analysts at Melius initiated coverage on Schlumberger, assigning a "buy" rating and a price target of $82.00, indicating a potential upside of 145.93% from the company's previous close.
• Other analysts have been more conservative, with firms like JPMorgan Chase and Piper Sandler lowering their price targets to $44.00 and $42.00, respectively, while maintaining "overweight" and "neutral" ratings.
• Despite a 6.5% year-over-year decline in quarterly revenue, Schlumberger reported earnings per share of $0.74, slightly beating analyst expectations of $0.73.

Analysts at Melius started coverage on shares of Schlumberger (NYSE:SLB - Get Free Report) in a research note issued on Wednesday,Briefing.com Automated Import reports. The brokerage set a "buy" rating and a $82.00 price target on the oil and gas company's stock. Melius' price objective would suggest a potential upside of 145.93% from the company's previous close.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. lowered their price objective on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Piper Sandler lowered their price objective on Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Jefferies Financial Group lowered their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Barclays lowered their target price on Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Finally, Morgan Stanley lowered their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $51.21.

Schlumberger Trading Up 0.1%

NYSE:SLB opened at $33.3430 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a market cap of $45.05 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 9.24 and a beta of 1.03. Schlumberger has a one year low of $31.11 and a one year high of $46.16. The business's 50-day simple moving average is $34.61 and its 200 day simple moving average is $36.47.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.Schlumberger's quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 earnings per share. As a group, sell-side analysts predict that Schlumberger will post 3.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the sale, the director directly owned 23,525 shares in the company, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On Schlumberger

Institutional investors and hedge funds have recently modified their holdings of the stock. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Schlumberger during the 2nd quarter valued at $25,000. First Command Advisory Services Inc. lifted its position in shares of Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after acquiring an additional 477 shares during the last quarter. Atticus Wealth Management LLC purchased a new stake in shares of Schlumberger in the second quarter valued at $29,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Schlumberger in the first quarter valued at $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Schlumberger by 55.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company's stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

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.

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