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Schlumberger: Analyzing Wall Street Forecasts Post–Q3 Earnings

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Dec. 4 2020, Updated 10:43 a.m. ET

Wall Street’s forecasts for Schlumberger

In this series, we’ve seen Schlumberger’s (SLB) stock has held up following its latest quarter earnings release. Now let’s look at what Wall Street forecasts for SLB shares following its latest earnings release.

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Consensus rating for Schlumberger

Approximately 73% of analysts tracking Schlumberger rate it a “buy” or some equivalent. Approximately 22% rate the company a “hold” or an equivalent, while 5% of analysts recommend a “sell.” SLB is 18.4% of the VanEck Vectors Oil Services ETF (OIH).

In comparison, only 28% of analysts have rated Schlumberger’s peer National Oilwell Varco (NOV) a “buy” while 56% have rated National Oilwell Varco (NOV) a “hold” and 16% have rated it a “sel.l” National Oilwell Varco is 4.6% of the VanEck Vectors Oil Services ETF (OIH).

Analysts’ recommendations

Here are some Wall Street analysts’ recommendations for Schlumberger following its latest quarterly results.

Barclays (BCS), an investment bank, gave Schlumberger a target price of $85—one of its lowest target prices. Schlumberger currently trades near $74. This still implies a 14.5% return over the next 12 months. American Investment bank Morgan Stanley (MS) has a 12-month target price of $120 for Schlumberger, one of its highest target prices. This target implies a whopping ~62% return from Schlumberger over the next 12 months.

RBC Capital Markets, a Canadian investment bank and part of the Royal Bank of Canada, gives Schlumberger a $92 target price. It implies a 24% return for the next 12 months. BMO Capital Markets, the investment banking subsidiary of the Canadian Bank of Montreal, has set SLB a $103 target price. This implies a 39% return over the next year. Evercore ISI, an independent investment banking advisory firm, gives SLB a target price of $90. This implies a 21% return over a one-year period at the current price.

Learn more about the oil and gas industry on Market Realist’s Energy and Power page.

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