Susquehanna Lowers Schlumberger (NYSE:SLB) Price Target to $60.00

Schlumberger (NYSE:SLB) had its price target reduced by research analysts at Susquehanna from $70.00 to $60.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s target price indicates a potential upside of 34.20% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Bank of America lowered their target price on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Piper Sandler lowered their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Morgan Stanley cut their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Evercore ISI upped their price target on shares of Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, Wells Fargo & Company cut their price target on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $63.53.

Schlumberger Trading Up 0.2 %

NYSE SLB opened at $44.71 on Friday. Schlumberger has a 52 week low of $38.66 and a 52 week high of $61.20. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The stock’s 50 day moving average price is $43.10 and its two-hundred day moving average price is $46.54. The stock has a market capitalization of $63.48 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 0.95 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. As a group, analysts anticipate that Schlumberger will post 3.47 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the transaction, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the transaction, the chief financial officer now owns 203,076 shares in the company, valued at $10,141,615.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction that occurred 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 owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Crescent Grove Advisors LLC bought a new position in shares of Schlumberger in the second quarter worth about $257,000. National Bank of Canada FI boosted its position in Schlumberger by 15.0% during the first 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 acquiring an additional 51,637 shares during the last quarter. Mission Wealth Management LP bought a new stake in shares of Schlumberger during the 1st quarter valued at about $245,000. Public Sector Pension Investment Board grew its position in shares of Schlumberger by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after buying an additional 11,813 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in Schlumberger by 9.0% in the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after purchasing an additional 64,974 shares during the period. Institutional investors 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.