Susquehanna Lowers Schlumberger (NYSE:SLB) Price Target to $48.00

Schlumberger (NYSE:SLB) had its target price reduced by investment analysts at Susquehanna from $55.00 to $48.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price objective indicates a potential upside of 42.26% from the stock’s previous close.

Several other brokerages also recently commented on SLB. Citigroup lifted their price target on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Jefferies Financial Group cut their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Royal Bank of Canada restated an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a research report on Tuesday, January 21st. 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. Finally, BMO Capital Markets lowered their price target on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.21.

Schlumberger Stock Down 0.6 %

SLB traded down $0.22 during midday trading on Monday, hitting $33.74. 4,641,283 shares of the company’s stock traded hands, compared to its average volume of 12,964,747. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company has a market cap of $45.88 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. Schlumberger has a one year low of $31.11 and a one year high of $52.91. The stock’s fifty day simple moving average is $39.99 and its 200-day simple moving average is $41.03.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 EPS. As a group, equities analysts anticipate that Schlumberger will post 3.38 earnings per share for the current fiscal year.

Insider Activity

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the sale, the executive vice president now owns 210,502 shares in the company, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 315,905 shares of company stock worth $13,609,283. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Hedge funds have recently modified their holdings of the company. Washington Capital Management Inc. boosted its stake in shares of Schlumberger by 35.7% during the first quarter. Washington Capital Management Inc. now owns 30,385 shares of the oil and gas company’s stock valued at $1,270,000 after purchasing an additional 8,000 shares in the last quarter. UMB Bank n.a. boosted its position in Schlumberger by 45.8% during the 1st quarter. UMB Bank n.a. now owns 33,109 shares of the oil and gas company’s stock worth $1,384,000 after buying an additional 10,397 shares during the period. Godsey & Gibb Inc. grew its holdings in Schlumberger by 2.4% during the 1st quarter. Godsey & Gibb Inc. now owns 449,957 shares of the oil and gas company’s stock worth $18,808,000 after acquiring an additional 10,622 shares during the last quarter. Vanguard Capital Wealth Advisors increased its position in Schlumberger by 47.8% in the 1st quarter. Vanguard Capital Wealth Advisors now owns 26,600 shares of the oil and gas company’s stock valued at $1,112,000 after acquiring an additional 8,600 shares during the period. Finally, Hudson Valley Investment Advisors Inc. ADV raised its stake in shares of Schlumberger by 3.6% during the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 94,200 shares of the oil and gas company’s stock valued at $3,938,000 after acquiring an additional 3,249 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

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.