Schlumberger (NYSE:SLB) Price Target Cut to $63.00

Schlumberger (NYSE:SLB) had its price target reduced by research analysts at TD Cowen from $64.00 to $63.00 in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s price target would suggest a potential upside of 27.14% from the stock’s current price.

SLB has been the subject of a number of other research reports. Stifel Nicolaus increased their target price on Schlumberger from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. HSBC restated a “buy” rating and set a $71.00 price objective on shares of Schlumberger in a research note on Thursday, April 4th. Barclays reduced their price objective on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Finally, Wells Fargo & Company increased their price objective on shares of Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $69.67.

Schlumberger Price Performance

SLB opened at $49.55 on Monday. The company has a fifty day simple moving average of $51.68 and a 200 day simple moving average of $52.28. The stock has a market cap of $70.73 billion, a P/E ratio of 16.46, a P/E/G ratio of 0.95 and a beta of 1.60. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. Schlumberger has a 12 month low of $42.73 and a 12 month high of $62.12.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. On average, research analysts expect that Schlumberger will post 3.51 EPS for the current year.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, VP Kevin Fyfe sold 20,223 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $52.05, for a total value of $1,052,607.15. Following the sale, the vice president now owns 31,198 shares in the company, valued at $1,623,855.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Kevin Fyfe sold 20,223 shares of Schlumberger stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $52.05, for a total transaction of $1,052,607.15. Following the transaction, the vice president now owns 31,198 shares in the company, valued at $1,623,855.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Katharina Beumelburg sold 8,000 shares of Schlumberger stock in a transaction on Monday, January 29th. The stock was sold at an average price of $52.62, for a total transaction of $420,960.00. Following the transaction, the insider now owns 15,581 shares in the company, valued at approximately $819,872.22. The disclosure for this sale can be found here. Insiders have sold 110,768 shares of company stock worth $5,511,037 over the last quarter. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

A number of hedge funds have recently modified their holdings of SLB. BluePath Capital Management LLC acquired a new position in Schlumberger in the third quarter valued at $25,000. MCF Advisors LLC lifted its holdings in Schlumberger by 1,355.9% in the third quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 461 shares during the period. Register Financial Advisors LLC acquired a new position in Schlumberger in the first quarter valued at $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in Schlumberger in the fourth quarter valued at $26,000. Finally, Transcendent Capital Group LLC acquired a new position in Schlumberger in the fourth quarter valued at $32,000. 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.