After Cowen & Co. and Wells Fargo gave Schlumberger (NYSE: SLB) a Buy rating last month, the company received another Buy, this time from BMO Capital. Analyst Phillip Jungwirth maintained a Buy rating on Schlumberger today and set a price target of $48.00. The company’s shares closed last Monday at $39.07.
According to TipRanks.com, Jungwirth is a 4-star analyst with an average return of 5.1% and a 47.4% success rate. Jungwirth covers the Utilities sector, focusing on stocks such as Occidental Petroleum, Chesapeake Energy, and Exxon Mobil.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Schlumberger with a $50.36 average price target, which is a 20.9% upside from current levels. In a report released today, Wells Fargo also maintained a Buy rating on the stock with a $55.00 price target.
Based on Schlumberger’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $6.23 billion and net profit of $601 million. In comparison, last year the company earned revenue of $5.53 billion and had a net profit of $374 million.
Based on the recent corporate insider activity of 77 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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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