Credit Suisse Maintains Rating And Lowers Price Target On Schlumberger N.V. (SLB)


Schlumberger N.V. (NYSE:SLB).

On July 6, 2017 the stock rating was rated “Outperform” in a report from Bernstein which is up from the previous “Market Perform” rating. On September 12 JP Morgan held the stock rating at “Overweight” and lowered the price expectation from $101.00 to $76.00.

October 5 investment analysts at Citigroup left the stock rating at “Buy” and moved down the price target to $80.00 from $93.00. On October 11 the company was changed to “Market Perform” by BMO Capital which was a cut from the previous “Outperform” rating.

On October 23 Morgan Stanley held the company rating at “Outperform” but moved down the price target from $110.00 to $71.00.

The company is so far trading up from yesterday’s close of 61.91. The company recently declared a dividend to be paid on Friday January 12th, 2018. The dividend payment will be $0.500 per share for the quarter or $2.00 annualized. The dividend yield will be $3.10. The ex-dividend date will be on Friday the 1st of September 2017.

It is currently trading at $62.26 barely below $67.27, the stock’s 50 day moving average and a bit lower than the 200 day moving average of $68.40. The 50 day moving average went down $-5.01 or -7.45% and the 200 day average went down $-6.14 or -8.97%.

Schlumberger N.V., launched on November 6, 1956, provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Business’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group is involved in finding and defining hydrocarbon resources. The Drilling Group is involved in drilling and positioning of oil and gas wells. The Production Group is involved in the lifetime production of oil and gas reservoirs. The Cameron Group is involved in pressure and flow control for drilling and intervention rigs, oil and gas wells, and production facilities. The Company operates in North America, Latin America, and the Middle East and Asia, among others. The Business’s subsidiaries include Schlumberger Holdings Corporation and Schlumberger Investment SA..

Schlumberger N.V.’s P/E ratio is 490.24 and market capitalization is 86.20B. As of the last earnings report the EPS was $0.13 and is projected to be $1.51 for the current year with 1,384,524,000 shares presently outstanding. Next quarter’s EPS is expected be $0.46 with next year’s EPS anticipated to be $2.30.

Traders are a little more bullish recently looking at the motion in short interest. The stock had a fall in short interest of -5.88% as of September 29, 2017 from the last reporting period. Short shares decreased from 22,395,751 to 21,079,012 over that period. With short interest at 21,079,012 and short average daily volume at 6,775,903, days to cover is 3.0 and the percentage of shorted shares is 0.02% as of September 29.