Stifel Nicolaus Lowers Schlumberger (NYSE:SLB) Price Target to $62.00

Schlumberger (NYSE:SLB) had its target price dropped by stock analysts at Stifel Nicolaus from $65.00 to $62.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 38.45% from the company’s previous close.

A number of other brokerages have also recently commented on SLB. Susquehanna reduced their target price on shares of Schlumberger from $70.00 to $60.00 and set a “positive” rating for the company in a report on Friday. BMO Capital Markets decreased their target price on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday. Piper Sandler cut their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. UBS Group decreased their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Dbs Bank initiated coverage on Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective on the stock. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $63.42.

Schlumberger Price Performance

Shares of SLB opened at $44.78 on Friday. The firm has a fifty day simple moving average of $43.10 and a two-hundred day simple moving average of $46.42. The firm has a market cap of $64.01 billion, a PE ratio of 14.88, a P/E/G ratio of 0.95 and a beta of 1.51. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Schlumberger has a 1-year low of $38.66 and a 1-year high of $61.20.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The company had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. Schlumberger’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. On average, equities analysts anticipate that Schlumberger will post 3.47 EPS for the current year.

Insider Activity

In related news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the sale, the chief financial officer now directly owns 203,076 shares in the company, valued at approximately $10,141,615.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the transaction, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the sale, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 180,716 shares of company stock worth $9,048,624 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Large investors have recently modified their holdings of the stock. ORG Partners LLC increased its position in Schlumberger by 393.5% during 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 last quarter. Register Financial Advisors LLC bought a new position in Schlumberger during the 1st quarter valued at about $27,000. Bruce G. Allen Investments LLC raised its position in Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares during the period. Unique Wealth Strategies LLC bought a new stake in Schlumberger in the second quarter worth about $30,000. Finally, Manchester Capital Management LLC boosted its position in shares of Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares during the period. 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.