Cowen & Co. Keeps Their Buy Rating on Schlumberger Limited

By Jason Carr

Cowen & Co. analyst Marc Bianchi reiterated a Buy rating on Schlumberger Limited (NYSE: SLB) today and set a price target of $77. The company’s shares opened today at $67.59.

According to TipRanks.com, Bianchi is ranked 0 out of 5 stars with an average return of -7.1% and a 37.9% success rate. Bianchi covers the Basic Materials sector, focusing on stocks such as Baker Hughes a GE company, Diamond Offshore Drilling, and Oceaneering International.

Currently, the analyst consensus on Schlumberger Limited is Strong Buy and the average price target is $83.08, representing a 22.9% upside.

In a report issued on April 4, Jefferies also reiterated a Buy rating on the stock with a $85 price target.

Based on Schlumberger Limited’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $8.18 billion and GAAP net loss of $2.26 billion. In comparison, last year the company earned revenue of $6.89 billion and had a net profit of $279 million.

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Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. It operates through the following business segments: Reservoir Characterization, Drilling, Production, Cameron, and Elimination and Other.