Jefferies Upgrades Schlumberger to Buy

By Ryan Adsit

Schlumberger (NYSE: SLB) received a Buy rating from Jefferies analyst Brad Handler today. The company’s shares closed yesterday at $78.71.

According to TipRanks.com, Handler is ranked 0 out of 5 stars with an average return of -4.6% and a 44.6% success rate. Handler covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Oceaneering International, and Basic Energy Services.

Schlumberger has an analyst consensus of Strong Buy, with a price target consensus of $96.

Based on Schlumberger’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $7.02 billion and quarterly net profit of $176 million. In comparison, last year the company earned revenue of $8.47 billion and had a net profit of $989 million.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. Last month, Stephane Biguet, the VP Controller of SLB sold 3,000 shares for a total of $239,160.