BMO Capital Markets Issues Pessimistic Forecast for Schlumberger (NYSE:SLB) Stock Price

Schlumberger (NYSE:SLB) had its price target dropped by BMO Capital Markets from $53.00 to $48.00 in a research note issued on Thursday. BMO Capital Markets’ price target points to a potential upside of 10.15% from the stock’s previous close.

A number of other research analysts also recently commented on the company. Susquehanna dropped their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. cut their price objective 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. Barclays lowered their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Finally, Piper Sandler started coverage on shares of Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $56.03.

Schlumberger Stock Up 6.1 %

Shares of Schlumberger stock opened at $43.58 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a market capitalization of $61.54 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.35 and a beta of 1.52. The company has a 50 day moving average of $40.85 and a 200 day moving average of $42.92.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 EPS. As a group, research analysts forecast that Schlumberger will post 3.39 EPS for the current fiscal year.

Insider Buying and Selling

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 of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Schlumberger

A number of institutional investors have recently modified their holdings of SLB. ORG Partners LLC lifted its holdings in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of Schlumberger in the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Schlumberger in the third quarter valued at about $37,000. DiNuzzo Private Wealth Inc. boosted its holdings in Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after buying an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new position in Schlumberger during the third quarter worth about $47,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

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.