Schlumberger (NYSE:SLB) Price Target Cut to $62.00

Schlumberger (NYSE:SLB) had its price target reduced by analysts at Bank of America from $63.00 to $62.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Bank of America‘s target price points to a potential upside of 25.13% from the company’s current price.

A number of other brokerages also recently issued reports on SLB. Stifel Nicolaus boosted their price objective on Schlumberger from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Barclays dropped their price target on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Susquehanna restated a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a research note on Monday, April 8th. Royal Bank of Canada increased their target price on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Finally, Benchmark reiterated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.67.

Schlumberger Trading Up 0.1 %

Schlumberger stock opened at $49.55 on Monday. The business has a 50-day simple moving average of $51.68 and a two-hundred day simple moving average of $52.28. The company has a market cap of $70.73 billion, a P/E ratio of 16.46, a P/E/G ratio of 0.95 and a beta of 1.60. Schlumberger has a 52-week low of $42.73 and a 52-week high of $62.12. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49.

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

Insider Activity

In other news, VP Kevin Fyfe sold 20,223 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $52.05, for a total transaction of $1,052,607.15. Following the transaction, the vice president now owns 31,198 shares in the company, valued at $1,623,855.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Schlumberger news, VP Kevin Fyfe sold 20,223 shares of Schlumberger stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $52.05, for a total value of $1,052,607.15. Following the transaction, the vice president now owns 31,198 shares in the company, valued at $1,623,855.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Katharina Beumelburg sold 8,000 shares of Schlumberger stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.62, for a total value of $420,960.00. Following the completion of the transaction, the insider now owns 15,581 shares in the company, valued at approximately $819,872.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,768 shares of company stock worth $5,511,037. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

A number of institutional investors and hedge funds have recently modified their holdings of the company. Ritholtz Wealth Management lifted its holdings in Schlumberger by 46.5% in the third quarter. Ritholtz Wealth Management now owns 11,978 shares of the oil and gas company’s stock valued at $698,000 after acquiring an additional 3,802 shares during the period. Global Retirement Partners LLC increased its position in shares of Schlumberger by 14.1% during the third quarter. Global Retirement Partners LLC now owns 3,563 shares of the oil and gas company’s stock worth $199,000 after purchasing an additional 440 shares in the last quarter. Montecito Bank & Trust purchased a new stake in Schlumberger in the 3rd quarter valued at $245,000. DAVENPORT & Co LLC grew its holdings in Schlumberger by 0.9% in the 3rd quarter. DAVENPORT & Co LLC now owns 54,995 shares of the oil and gas company’s stock valued at $3,206,000 after buying an additional 506 shares in the last quarter. Finally, GHP Investment Advisors Inc. lifted its stake in shares of Schlumberger by 68.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 1,722 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 702 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Company Profile

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.