Schlumberger (NYSE:SLB) Given New $48.00 Price Target at BMO Capital Markets

Schlumberger (NYSE:SLB) had its price objective lowered by investment analysts at BMO Capital Markets from $53.00 to $48.00 in a report issued on Thursday. BMO Capital Markets’ price objective would suggest a potential upside of 16.96% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. Piper Sandler assumed coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Susquehanna decreased their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Wells Fargo & Company dropped their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. JPMorgan Chase & Co. cut their target price on shares of Schlumberger from $55.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a report on Wednesday. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $56.03.

Schlumberger Stock Up 1.0 %

Shares of SLB stock traded up $0.40 on Thursday, hitting $41.04. The stock had a trading volume of 10,476,724 shares, compared to its average volume of 11,610,437. Schlumberger has a 52-week low of $36.52 and a 52-week high of $55.69. The firm has a market capitalization of $57.95 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 1.35 and a beta of 1.52. 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 stock’s 50 day moving average is $40.95 and its 200-day moving average is $42.95.

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

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction 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 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 filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Institutional investors have recently bought and sold shares of the business. ORG Partners LLC lifted its position in shares of Schlumberger by 393.5% in 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 acquired a new position in Schlumberger in the 3rd quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new stake in Schlumberger in the 3rd quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. boosted its stake in shares of Schlumberger by 1,068.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 876 shares during the period. Finally, J. Stern & Co. LLP purchased a new position in shares of Schlumberger during the 3rd quarter valued at $47,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.