$SLB UPGRADE FROM HOLD TO BUY FOR SCHLUMBERGERSeems like a highly unusual upgrade as the stock is teetering on the edge of another decline as support is tested. The Stifel analysts Stephen Gengaro has based his price target on the free cash floe generation, and thinks that it has a very compelling risk/reward for investors at these levels. He also reminds investors of the safe $2.00 dividend and that you get paid to wait, but for how long?, the stock is sitting on a support level that if it fails there is nothing below to stop the decline, there may be a good opportunity for a trade in the days to come on the long or short side.
AVERAGE ANALYSTS PRICE TARGET $51
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
P/E RATIO 24
COMPANY PROFILE
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. The Reservoir Characterization Group segment consists of the principal technologies involved in finding and defining hydrocarbon resources. The Drilling Group segment includes the drilling and positioning of oil and gas wells such as bits and drilling tolls, drilling and measurement, land rigs and integrated drilling services. The Production Group segment provides technologies in the lifetime production of oil and gas reservoirs such as well services, completions, artificial lift, well intervention, water service, integrated production services and others. The Cameron Group segment consists of the pressure and flow control for drilling and intervention rigs, oil and gas wells and production facilities. The company was founded by Conrad Schlumberger and Marcel Schlumberger in 1926 and is headquartered in
