JPMorgan Chase & Co. Cuts Schlumberger (NYSE:SLB) Price Target to $48.00

Schlumberger (NYSE:SLB) had its target price decreased by equities researchers at JPMorgan Chase & Co. from $55.00 to $48.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 24.38% from the stock’s current price.

SLB has been the topic of a number of other research reports. Susquehanna decreased their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. TD Cowen decreased their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. BMO Capital Markets dropped their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, October 10th. Dbs Bank started coverage on Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target on the stock. Finally, Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $58.25.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $38.59 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The firm has a market cap of $54.50 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.42 and a beta of 1.51. The business has a 50-day simple moving average of $41.19 and a two-hundred day simple moving average of $43.37. Schlumberger has a fifty-two week low of $36.52 and a fifty-two week high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping 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 company had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. Schlumberger’s revenue was up 10.2% compared to the same quarter last year. On average, analysts expect that Schlumberger will post 3.39 earnings per share for the current year.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by insiders.

Institutional Trading of Schlumberger

Several hedge funds have recently added to or reduced their stakes in the company. ORG Partners LLC grew its stake in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in Schlumberger during the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Schlumberger during the 3rd quarter worth about $37,000. DiNuzzo Private Wealth Inc. increased its holdings in shares of Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in shares of Schlumberger during the 3rd quarter worth about $47,000. Institutional investors and hedge funds 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.