Stifel Nicolaus Lowers Schlumberger (NYSE:SLB) Price Target to $59.00

Schlumberger (NYSE:SLB) had its target price reduced by Stifel Nicolaus from $60.00 to $59.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 60.20% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Piper Sandler began coverage on shares of Schlumberger in a research report on Thursday. They issued a “neutral” rating and a $47.00 price target on the stock. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Morgan Stanley decreased their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Finally, BMO Capital Markets cut their price target on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $58.79.

Schlumberger Stock Down 0.2 %

Shares of Schlumberger stock opened at $36.83 on Monday. Schlumberger has a twelve month low of $36.52 and a twelve month high of $55.69. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $42.06 and its 200 day moving average is $43.75. The company has a market cap of $52.01 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 1.42 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same period in the prior year, the firm earned $0.78 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. Research analysts anticipate that Schlumberger will post 3.39 EPS for the current year.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Schlumberger

A number of hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. increased its holdings in shares of Schlumberger by 8.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,487,067 shares of the oil and gas company’s stock worth $188,232,000 after buying an additional 332,500 shares during the last quarter. Syntax Research Inc. purchased a new position in Schlumberger in the third quarter worth about $3,491,000. Copley Financial Group Inc. bought a new stake in Schlumberger during the third quarter worth approximately $515,000. Peapack Gladstone Financial Corp raised its position in Schlumberger by 15.0% during the third quarter. Peapack Gladstone Financial Corp now owns 268,008 shares of the oil and gas company’s stock valued at $11,244,000 after purchasing an additional 34,861 shares during the period. Finally, Synovus Financial Corp lifted its stake in shares of Schlumberger by 30.2% in the 3rd quarter. Synovus Financial Corp now owns 109,717 shares of the oil and gas company’s stock valued at $4,603,000 after purchasing an additional 25,465 shares during the last quarter. Hedge funds and other 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.