24 Jul

Wall Street’s Forecasts for Schlumberger after Its Q2 Earnings

WRITTEN BY Alex Chamberlin

Wall Street’s forecasts for Schlumberger

In this article, we’ll look at Wall Street analysts’ forecasts for Schlumberger (SLB) on July 20. SLB released its second-quarter earnings on that day.

Wall Street’s Forecasts for Schlumberger after Its Q2 Earnings

Consensus rating for Schlumberger

Approximately 73.0% of sell-side analysts tracking Schlumberger rated it as a “buy” or some equivalent on July 20. Approximately 24.0% rated the company as a “hold.” Only 3.0% of the analysts recommended a “sell” or an equivalent.

Approximately 48.0% of sell-side analysts tracking Baker Hughes, a GE company (BHGE) rated it as a “buy” or some equivalent, and ~52.0% rated it as a “hold.” None of the sell-side analysts rated it as a “sell.”

Analysts’ rating changes for SLB

From April 20 to July 20, the percentage of analysts recommending a “buy” or some equivalent for SLB has decreased from 76.0% to 73.0%. Analysts’ “hold” recommendations have increased for SLB during the same period. On July 20, 2017, ~74.0% of sell-side analysts recommended a “buy” for SLB.

Analysts’ target prices for SLB and its peers

Wall Street analysts’ mean target price for SLB on July 20 was $78.40. SLB is currently trading at ~$66.10, implying an ~19.0% upside at its current price. A month ago, analysts’ average target price for SLB was $79.40.

The mean target price, which was surveyed among sell-side analysts, for NOW, Inc. (DNOW) was $14.00 on July 20. DNOW is currently trading at ~$14.20, implying an ~1.0% downside at its current price. The mean target price, as surveyed among the sell-side analysts, for Keane Group (FRAC) was $20.32 on July 20. FRAC is currently trading at ~$12.40, implying an ~64.0% upside at its current price.

You can learn more about the OFS industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.

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