Schlumberger (NYSE:SLB) Price Target Cut to $61.00 by Analysts at Jefferies Financial Group

Schlumberger (NYSE:SLB) had its price target dropped by analysts at Jefferies Financial Group from $64.00 to $61.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas company’s stock. Jefferies Financial Group’s target price points to a potential upside of 58.07% from the stock’s current price.

A number of other equities analysts also recently commented on the company. Susquehanna reduced their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Dbs Bank began coverage on Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective for the company. Wells Fargo & Company lowered their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Finally, UBS Group cut their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $58.25.

Schlumberger Price Performance

Schlumberger stock opened at $38.59 on Friday. The company has a fifty day simple moving average of $41.12 and a 200-day simple moving average of $43.33. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $54.50 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.42 and a beta of 1.52. Schlumberger has a 52-week low of $36.52 and a 52-week high of $55.69.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $9.27 billion. During the same quarter in the prior year, the company earned $0.78 EPS. Schlumberger’s revenue was up 10.2% compared to the same quarter last year. On average, equities analysts anticipate that Schlumberger will post 3.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On Schlumberger

Several large investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Schlumberger by 25.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock valued at $31,961,000 after acquiring an additional 156,698 shares during the period. Wilmington Savings Fund Society FSB grew its position in Schlumberger by 27.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after purchasing an additional 16,350 shares during the last quarter. Victory Capital Management Inc. increased its stake in Schlumberger by 8.7% in the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after purchasing an additional 65,318 shares during the period. Concurrent Investment Advisors LLC increased its stake in Schlumberger by 269.1% in the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after purchasing an additional 14,376 shares during the period. Finally, Public Sector Pension Investment Board raised its holdings in shares of Schlumberger by 0.6% in the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after buying an additional 11,813 shares during the last quarter. Institutional investors and hedge funds 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.