Schlumberger (NYSE:SLB) PT Lowered to $63.00

Schlumberger (NYSE:SLB) had its price objective cut by equities research analysts at UBS Group from $67.00 to $63.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. UBS Group’s target price would suggest a potential upside of 42.55% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Citigroup cut their price target on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, June 28th. StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. TD Cowen boosted their price target on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Barclays cut their price target on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Finally, Bank of America cut their price target on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Schlumberger Stock Up 0.4 %

SLB stock opened at $44.20 on Tuesday. Schlumberger has a 12 month low of $42.61 and a 12 month high of $62.12. The firm has a market cap of $62.75 billion, a PE ratio of 14.68, a P/E/G ratio of 0.96 and a beta of 1.55. The firm has a 50 day simple moving average of $46.09 and a 200 day simple moving average of $48.34. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same period in the prior year, the business earned $0.72 earnings per share. The business’s quarterly revenue was up 12.8% on a year-over-year basis. Equities research analysts forecast that Schlumberger will post 3.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bejar Carmen Rando sold 4,980 shares of the company’s 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 sale, the insider now directly owns 22,518 shares of the company’s stock, valued at $977,956.74. The disclosure for this sale can be found here. Insiders sold 185,696 shares of company stock valued at $9,264,905 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Several large investors have recently modified their holdings of the company. Carolinas Wealth Consulting LLC boosted its holdings in Schlumberger by 53.5% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 683 shares during the period. National Bank of Canada FI boosted its holdings in Schlumberger by 15.0% in the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after purchasing an additional 51,637 shares during the period. Mission Wealth Management LP bought a new stake in Schlumberger in the 1st quarter valued at $245,000. Canada Pension Plan Investment Board boosted its holdings in Schlumberger by 9.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after purchasing an additional 64,974 shares during the period. Finally, Stifel Financial Corp boosted its holdings in Schlumberger by 3.0% in the 4th quarter. Stifel Financial Corp now owns 1,746,441 shares of the oil and gas company’s stock valued at $90,885,000 after purchasing an additional 51,175 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.