JPMorgan Chase & Co. Issues Pessimistic Forecast for Schlumberger (NYSE:SLB) Stock Price

Schlumberger (NYSE:SLB) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from $55.00 to $48.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 25.20% from the company’s previous close.

SLB has been the topic of a number of other reports. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Susquehanna cut their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a report on Thursday, October 3rd. Citigroup dropped their target price on Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, UBS Group decreased their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.09.

Schlumberger Stock Performance

NYSE SLB opened at $38.34 on Thursday. The business has a 50-day moving average price of $41.24 and a 200-day moving average price of $43.40. The firm has a market cap of $54.14 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.42 and a beta of 1.51. Schlumberger has a twelve month low of $36.52 and a twelve month high of $55.69. 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 (NYSE:SLB) last announced its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 12.44% and a return on equity of 21.84%. 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 firm posted $0.78 EPS. As a group, equities research analysts predict that Schlumberger will post 3.39 EPS for the current fiscal year.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were 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 in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ORG Partners LLC grew its stake in shares of Schlumberger by 393.5% during the 3rd 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 during the period. Prospera Private Wealth LLC acquired a new stake in Schlumberger during the third quarter valued at $29,000. Ashton Thomas Securities LLC purchased a new position in Schlumberger in the third quarter valued at $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 worth $40,000 after acquiring an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in shares of Schlumberger during the 3rd quarter valued at about $47,000. 81.99% of the stock is 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.