BMO Capital Markets Lowers Schlumberger (NYSE:SLB) Price Target to $48.00

by · The Markets Daily

Schlumberger (NYSE:SLB – Free Report) had its target price lowered by BMO Capital Markets from $53.00 to $48.00 in a research note issued to investors on Thursday morning.

Other research analysts also recently issued research reports about the company. Susquehanna lowered their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. TD Cowen lowered their price objective on shares of Schlumberger from $65.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Jefferies Financial Group decreased their price target on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Finally, Stifel Nicolaus cut their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.03.

Read Our Latest Analysis on Schlumberger

Schlumberger Stock Up 1.3 %

Shares of Schlumberger stock opened at $41.16 on Thursday. The company has a 50-day simple moving average of $40.89 and a two-hundred day simple moving average of $42.93. Schlumberger has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The stock has a market capitalization of $58.13 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52.

Schlumberger (NYSE:SLB – Get Free Report) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same period last year, the company earned $0.78 EPS. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts anticipate that Schlumberger will post 3.39 EPS for the current fiscal year.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Several large investors have recently added to or reduced their stakes in SLB. ORG Partners LLC boosted its holdings in shares of Schlumberger by 393.5% in 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 bought a new stake in Schlumberger in the third quarter worth $29,000. Ashton Thomas Securities LLC purchased a new position in Schlumberger during the third quarter worth $37,000. DiNuzzo Private Wealth Inc. increased its position in Schlumberger by 1,068.3% during 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 during the last quarter. Finally, J. Stern & Co. LLP purchased a new stake in shares of Schlumberger in the third quarter valued at $47,000. 81.99% of the stock is owned by institutional investors.

About Schlumberger

(Get Free Report)

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.

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