BMO Capital Believes Schlumberger (SLB) Still Has Room to Grow

In a report released today, Phillip Jungwirth from BMO Capital maintained a Buy rating on Schlumberger (SLBResearch Report), with a price target of $43.00. The company’s shares closed last Friday at $36.36, close to its 52-week high of $38.53.

According to TipRanks.com, Jungwirth is a 3-star analyst with an average return of 2.8% and a 46.0% success rate. Jungwirth covers the Utilities sector, focusing on stocks such as Chesapeake Energy, Antero Resources, and Talos Energy.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Schlumberger with a $42.50 average price target, which is a 13.2% upside from current levels. In a report released today, Susquehanna also maintained a Buy rating on the stock with a $43.00 price target.

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The company has a one-year high of $38.53 and a one-year low of $21.23. Currently, Schlumberger has an average volume of 11.36M.

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SLB in relation to earlier this year.

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Founded in 1926, Schlumberger NV is an oilfield services company, which provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems.

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