RBC Capital Believes Schlumberger (SLB) Won’t Stop Here

RBC Capital analyst Keith Mackey maintained a Buy rating on Schlumberger (SLBResearch Report) on January 14 and set a price target of $42.00. The company’s shares closed last Friday at $37.81, close to its 52-week high of $37.90.

According to TipRanks.com, Mackey is a 5-star analyst with an average return of 27.4% and a 74.8% success rate. Mackey covers the Industrial Goods sector, focusing on stocks such as Liberty Oilfield Services, Baker Hughes Company, and Trican Well Service.

Schlumberger has an analyst consensus of Strong Buy, with a price target consensus of $41.33, which is a 14.1% upside from current levels. In a report issued on January 5, Wells Fargo also maintained a Buy rating on the stock with a $38.00 price target.

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The company has a one-year high of $37.90 and a one-year low of $21.23. Currently, Schlumberger has an average volume of 11.23M.

Based on the recent corporate insider activity of 60 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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