Schlumberger (SLB) Hits New 12-Month Low at $58.11

Schlumberger Limited. (NYSE:SLB) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $58.11 and last traded at $58.11, with a volume of 742850 shares trading hands. The stock had previously closed at $59.24.

A number of research analysts have recently issued reports on the company. Tudor Pickering lowered Schlumberger from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. ValuEngine lowered Schlumberger from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Credit Suisse Group increased their target price on Schlumberger from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, July 23rd. Citigroup decreased their target price on Schlumberger from $79.00 to $78.00 and set a “buy” rating on the stock in a research report on Monday, June 25th. Finally, Jefferies Financial Group set a $80.00 target price on Schlumberger and gave the company a “buy” rating in a research report on Monday, July 23rd. Eight research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Schlumberger presently has an average rating of “Buy” and a consensus price target of $78.90.

The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.85. The company has a market cap of $80.87 billion, a P/E ratio of 34.17, a price-to-earnings-growth ratio of 5.58 and a beta of 0.93.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 19th. The oil and gas company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. Schlumberger had a positive return on equity of 6.25% and a negative net margin of 2.34%. The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.57 billion. During the same period in the prior year, the company earned $0.42 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. As a group, research analysts anticipate that Schlumberger Limited. will post 1.75 EPS for the current year.

In related news, Director Michael E. Marks bought 8,000 shares of the business’s stock in a transaction on Thursday, September 6th. The stock was acquired at an average cost of $60.31 per share, with a total value of $482,480.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of SLB. Bank of New York Mellon Corp grew its holdings in shares of Schlumberger by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 29,461,493 shares of the oil and gas company’s stock worth $1,974,805,000 after purchasing an additional 2,188,823 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Schlumberger by 5.5% during the 2nd quarter. Fisher Asset Management LLC now owns 6,190,872 shares of the oil and gas company’s stock worth $414,974,000 after purchasing an additional 321,908 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Schlumberger by 2.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 6,163,762 shares of the oil and gas company’s stock worth $399,288,000 after purchasing an additional 125,064 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Schlumberger by 3.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,720,875 shares of the oil and gas company’s stock worth $383,471,000 after purchasing an additional 164,182 shares during the period. Finally, Swiss National Bank grew its holdings in shares of Schlumberger by 2.8% during the 2nd quarter. Swiss National Bank now owns 4,950,935 shares of the oil and gas company’s stock worth $331,861,000 after purchasing an additional 133,900 shares during the period. 78.56% of the stock is owned by institutional investors and hedge funds.

Schlumberger Company Profile (NYSE:SLB)

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.

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