Schlumberger (NYSE:SLB) Price Target Cut to $63.00

Schlumberger (NYSE:SLB) had its price objective reduced by research analysts at TD Cowen from $64.00 to $63.00 in a research note issued to investors on Monday, MarketBeat reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s price objective suggests a potential upside of 27.14% from the company’s previous close.

A number of other brokerages have also recently issued reports on SLB. Bank of America lowered their price target on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Monday. Royal Bank of Canada lifted their price target on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Wells Fargo & Company lifted their price target on shares of Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. Susquehanna reissued a “positive” rating and set a $77.00 price target on shares of Schlumberger in a research report on Monday, April 8th. Finally, Barclays lowered their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $69.67.

Schlumberger Trading Up 0.1 %

NYSE:SLB opened at $49.55 on Monday. The company has a 50-day moving average price of $51.68 and a 200-day moving average price of $52.28. Schlumberger has a 12 month low of $42.73 and a 12 month high of $62.12. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The stock has a market cap of $70.73 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 0.95 and a beta of 1.60.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. During the same period last year, the company posted $0.63 EPS. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. Equities analysts predict that Schlumberger will post 3.51 EPS for the current year.

Insiders Place Their Bets

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total value of $304,000.00. Following the completion of the transaction, the chief financial officer now directly owns 242,932 shares in the company, valued at $11,816,212.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. Insiders sold a total of 110,768 shares of company stock worth $5,511,037 over the last three months. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Schlumberger

Hedge funds and other institutional investors have recently modified their holdings of the stock. BluePath Capital Management LLC bought a new position in shares of Schlumberger during the third quarter worth $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Schlumberger during the fourth quarter worth $26,000. Register Financial Advisors LLC purchased a new stake in Schlumberger during the first quarter valued at $27,000. MCF Advisors LLC raised its stake in Schlumberger by 1,355.9% during the third quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 461 shares in the last quarter. Finally, Transcendent Capital Group LLC purchased a new stake in Schlumberger during the fourth quarter valued at $32,000. Institutional investors own 81.99% of the company’s stock.

About Schlumberger

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.