Schlumberger (NYSE:SLB) Earns In-Line Rating from Evercore ISI

Schlumberger (NYSE:SLB)‘s stock had its “in-line” rating restated by analysts at Evercore ISI in a note issued to investors on Wednesday, MarketBeat.com reports. They presently have a $44.00 price target on the oil and gas company’s stock, down from their previous price target of $62.00. Evercore ISI’s price target indicates a potential upside of 6.89% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Bank of America reduced their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Piper Sandler assumed coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Citigroup decreased their target price on shares of Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Barclays cut their price target 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. Six equities 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 stock. Based on data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.03.

Schlumberger Stock Performance

NYSE:SLB opened at $41.16 on Wednesday. The company has a market cap of $58.13 billion, a P/E ratio of 13.24, a P/E/G ratio of 1.35 and a beta of 1.52. Schlumberger has a twelve month low of $36.52 and a twelve month high of $55.69. The company’s 50-day moving average price is $40.89 and its 200-day moving average price is $42.93. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the company posted $0.78 EPS. On average, sell-side analysts forecast that Schlumberger will post 3.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Schlumberger 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 value of $2,514,000.00. Following the completion of the transaction, the executive vice president now 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 legal filing with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

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