Schlumberger N.V. (SLB) Cut to Market Perform at BMO Capital Markets

Schlumberger N.V. (NYSE:SLB) was downgraded by BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday, MarketBeat reports. They currently have a $72.00 price objective on the oil and gas company’s stock, down from their prior price objective of $74.00. BMO Capital Markets’ price target would indicate a potential upside of 7.00% from the company’s previous close.

Other research analysts have also issued reports about the stock. Jefferies Group LLC reissued a “buy” rating and issued a $92.00 target price on shares of Schlumberger N.V. in a research note on Friday, June 30th. UBS AG set a $90.00 target price on shares of Schlumberger N.V. and gave the stock a “buy” rating in a research note on Friday, June 16th. Scotiabank set a $90.00 target price on shares of Schlumberger N.V. and gave the stock a “buy” rating in a research note on Friday, July 7th. Credit Suisse Group set a $78.00 target price on shares of Schlumberger N.V. and gave the stock a “buy” rating in a research note on Monday, July 24th. Finally, Instinet reissued a “buy” rating and issued a $78.00 target price (down from $85.00) on shares of Schlumberger N.V. in a research note on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $83.28.

Schlumberger N.V. (NYSE:SLB) last released its earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.05. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The business had revenue of $7.46 billion for the quarter, compared to analyst estimates of $7.25 billion. During the same period last year, the company posted $0.23 EPS. The business’s revenue was up 4.2% on a year-over-year basis.

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In related news, Director Helge Lund acquired 2,800 shares of Schlumberger N.V. stock in a transaction on Monday, July 24th. The shares were purchased at an average cost of $66.78 per share, for a total transaction of $186,984.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael E. Marks acquired 8,000 shares of Schlumberger N.V. stock in a transaction on Friday, August 11th. The shares were bought at an average price of $64.20 per share, for a total transaction of $513,600.00. The disclosure for this purchase can be found here. Corporate insiders own 0.38% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Eqis Capital Management Inc. boosted its stake in Schlumberger N.V. by 11.3% during the 3rd quarter. Eqis Capital Management Inc. now owns 13,861 shares of the oil and gas company’s stock valued at $967,000 after acquiring an additional 1,408 shares during the last quarter. Curbstone Financial Management Corp boosted its stake in Schlumberger N.V. by 117.7% during the 3rd quarter. Curbstone Financial Management Corp now owns 32,906 shares of the oil and gas company’s stock valued at $2,296,000 after acquiring an additional 17,793 shares during the last quarter. Park National Corp OH boosted its stake in Schlumberger N.V. by 2.0% during the 3rd quarter. Park National Corp OH now owns 149,447 shares of the oil and gas company’s stock valued at $10,425,000 after acquiring an additional 2,996 shares during the last quarter. Perpetual Ltd boosted its stake in Schlumberger N.V. by 4.9% during the 2nd quarter. Perpetual Ltd now owns 165,184 shares of the oil and gas company’s stock valued at $10,876,000 after acquiring an additional 7,742 shares during the last quarter. Finally, MPS Loria Financial Planners LLC bought a new position in Schlumberger N.V. during the 2nd quarter valued at $174,000. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Schlumberger N.V. Company Profile

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.

Analyst Recommendations for Schlumberger N.V. (NYSE:SLB)

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