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

Schlumberger (NYSE:SLB) had its target price reduced by research analysts at Stifel Nicolaus from $60.00 to $59.00 in a note issued to 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 indicate a potential upside of 56.37% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Dbs Bank initiated coverage on Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price for the company. TD Cowen cut their price objective on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. Bank of America reduced their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Citigroup dropped their target price on shares of Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Barclays decreased their price objective on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.79.

Schlumberger Stock Up 1.3 %

Shares of SLB stock opened at $37.73 on Monday. Schlumberger has a one year low of $36.52 and a one year high of $55.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The stock has a fifty day moving average price of $41.92 and a 200 day moving average price of $43.71. The stock has a market cap of $53.28 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 1.42 and a beta of 1.51.

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

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s 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 owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SLB. 1832 Asset Management L.P. acquired a new position in Schlumberger during the second quarter valued at approximately $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Schlumberger by 20.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after acquiring an additional 1,916,851 shares in the last quarter. Legal & General Group Plc lifted its stake in Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after acquiring an additional 1,560,684 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Schlumberger by 14.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock valued at $333,445,000 after acquiring an additional 915,705 shares during the period. Finally, Merewether Investment Management LP acquired a new position in shares of Schlumberger during the 2nd quarter worth about $42,957,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

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.