Barclays Lowers Schlumberger (NYSE:SLB) Price Target to $53.00

Schlumberger (NYSE:SLB) had its target price decreased by analysts at Barclays from $54.00 to $53.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price target indicates a potential upside of 26.21% from the company’s current price.

Other analysts have also issued research reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. TD Cowen lifted their price target on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Piper Sandler initiated coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Finally, Evercore ISI restated an “in-line” rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.69.

Schlumberger Stock Up 0.3 %

SLB traded up $0.12 during mid-day trading on Monday, reaching $42.00. 2,413,077 shares of the stock were exchanged, compared to its average volume of 12,150,140. Schlumberger has a 1 year low of $36.52 and a 1 year high of $55.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The stock has a market capitalization of $57.11 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The company has a 50 day moving average price of $41.29 and a two-hundred day moving average price of $41.47.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. As a group, research analysts anticipate that Schlumberger will post 3.38 EPS for the current year.

Insider Buying and Selling

In related news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the transaction, the insider now owns 30,829 shares in the company, valued at approximately $1,245,799.89. This trade represents a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gavin Rennick sold 26,990 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total value of $1,104,430.80. Following the transaction, the insider now owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. This represents a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock valued at $12,546,660 over the last ninety days. 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 made changes to their positions in SLB. CX Institutional raised its position in Schlumberger by 2.4% in the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock valued at $398,000 after purchasing an additional 244 shares during the period. TCW Group Inc. boosted its holdings in Schlumberger by 1.3% during the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock valued at $759,000 after acquiring an additional 259 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in Schlumberger by 0.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock valued at $2,174,000 after acquiring an additional 262 shares in the last quarter. Vident Advisory LLC lifted its position in shares of Schlumberger by 1.0% during the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company’s stock worth $1,067,000 after purchasing an additional 273 shares in the last quarter. Finally, Glen Eagle Advisors LLC increased its stake in Schlumberger by 3.7% during the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company’s stock worth $301,000 after buying an additional 282 shares during the period. 81.99% of the stock is owned by hedge funds and other 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.