Why Has KLR Group Given Schlumberger (NYSE:SLB) a $105 Price Target
In an analyst note sent to investors and clients on Monday, 14 December, professional analysts at KLR Group began issuing coverage for Schlumberger (NYSE:SLB) shares. The firm has decided to set a Buy rating along with a $105, adding 51.12% to the target.
From a total of 31 analysts covering Schlumberger Limited. (NYSE:SLB) stock, 28 rate it a ”Buy”, 1 a “Sell”, and 8 a ”Hold”. This means that 76% of the ratings are positive. The highest target price is $120 while the lowest target price is $69. The mean of all analyst targets is $90.23 with a 34.36% above today’s ($69.48) stock price. Schlumberger Limited. was the topic of 33 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Citigroup maintained shares on October 21 with “Buy” rating. UBS maintained shares with “Buy” rating and $90.0 target share price in a report from a September 30. Oppenheimer maintained SLB stock in a recent report from October 19 with “Outperform” rating. FBR Capital maintained the rating on September 21. FBR Capital has a “Outperform” rating and a $105 price target on shares. Finally, Cowen & Co maintained the stock with “Outperform” rating in a report issued on an October 16.
Approximately 4.62 million shares of stock traded hands. Schlumberger Limited. (NYSE:SLB) has declined 23.92% since May 11, 2015 and is downtrending. It has underperformed by 19.50% the S&P500.
The overall sentiment of institutions has increased to 1.14 in Q2 2015. Its up 0.20, from 0.94 in 2015Q2. The ratio improved, as 98 institutions have sold all the shares of Schlumberger Limited. that they owned while 548 funds have taken shares off the table. 94 funds have purchased shares for the first time while 642 added to their positions. These institutions now hold 898.86 million shares or 5.20% less than the 948.18 million shares they owned in 2015Q2.
The Fund First Reserve Gp Xii Ltd currently is holding shares equating to 59.84% of its total portfolio in Schlumberger Limited. representing a total of 2.07 million shares. Another fund,Northern Cross Llc, is holding a total of 10.64 million shares equating to 19.3% of their holdings. Additionally, Sequent Asset Management Llc has a 340,912 share stake in Schlumberger Limited. which represents 17.8% of their total portfolio. The Fund, D.C. Capital Advisors Ltd, based out of New York, has also built up a stake in the stock, which represents a total of 17.53% of their total portfolio. Finally Oceanic Investment Management Ltd, a fund which is based in the state of Isle Of Man reported a total holdings of 416,132 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 24, 2015, shareholders of Schlumberger Limited. have witnessed 0 buys, and a total of 1 sale equating to a net activity of approximately $172,740 . Sandvold Tore I sold 2,000 shares worth approximately $172,740. Danton Mark sold 8,557 shares worth approximately $786,023. Foda Sherif sold 5,000 shares worth approximately $467,150. Floridia Aaron Gatt sold 11,400 shares worth approximately $1.07 million. The company insider Farrant Simon sold 1,500 shares worth $140,055.
Schlumberger N.V. is a supplier of technology, integrated project management and information solutions to the international gas and oil exploration and production industry. The company has a market cap of $87.87 billion.
According to Zacks Investment Research, “Schlumberger Limited is a global technology services company consisting of two business segments, Schlumberger Oilfield Services and SchlumbergerSema. Schlumberger Oilfield Services is the leading provider of exploration and production services, solutions and technology to the international petroleum industry. SchlumbergerSema is a leading information technology services company providing a unique combination of domain expertise and global capabilities delivered on a local basis.”