Susquehanna Lowers Schlumberger (NYSE:SLB) Price Target to $70.00

Schlumberger (NYSE:SLB) had its price target reduced by equities researchers at Susquehanna from $77.00 to $70.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price objective would indicate a potential upside of 50.80% from the stock’s current price.

Several other analysts have also commented on SLB. Bank of America cut their target price on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Barclays cut their price objective on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Tuesday, June 25th. BMO Capital Markets cut their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Finally, StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.18.

Schlumberger Stock Up 0.5 %

Shares of SLB stock opened at $46.42 on Thursday. Schlumberger has a 1 year low of $42.61 and a 1 year high of $62.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The business’s fifty day moving average is $46.24 and its 200-day moving average is $49.21. The stock has a market cap of $66.35 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 0.87 and a beta of 1.55.

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

Insider Activity

In related news, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the sale, the insider now owns 22,518 shares of the company’s stock, valued at $977,956.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now directly owns 22,518 shares in the company, valued at $977,956.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the transaction, the chief technology officer now owns 33,421 shares in the company, valued at approximately $1,612,897.46. The disclosure for this sale can be found here. Insiders have sold a total of 106,158 shares of company stock worth $5,099,893 in the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Trust Co. of Vermont boosted its holdings in shares of Schlumberger by 43.2% during the 3rd quarter. Trust Co. of Vermont now owns 3,150 shares of the oil and gas company’s stock worth $184,000 after buying an additional 950 shares during the period. Vanguard Group Inc. grew its position in shares of Schlumberger by 1.1% in the third quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock valued at $7,609,804,000 after purchasing an additional 1,412,821 shares during the last quarter. Anchor Investment Management LLC bought a new position in shares of Schlumberger in the fourth quarter worth about $69,000. Trust Co. of Toledo NA OH lifted its position in shares of Schlumberger by 6.4% during the 4th quarter. Trust Co. of Toledo NA OH now owns 55,152 shares of the oil and gas company’s stock worth $2,870,000 after purchasing an additional 3,323 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. boosted its stake in Schlumberger by 8.3% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 45,257 shares of the oil and gas company’s stock valued at $2,355,000 after purchasing an additional 3,482 shares during the period. 81.99% of the stock is owned by institutional investors.

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.