Schlumberger (NYSE:SLB) Price Target Lowered to $46.00 at Wells Fargo & Company

Schlumberger (NYSE:SLB) had its target price cut by research analysts at Wells Fargo & Company from $49.00 to $46.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 17.86% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Citigroup cut their price target on shares of Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Dbs Bank started coverage on shares of Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price on the stock. UBS Group dropped their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, TD Cowen lowered their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.74.

Schlumberger Price Performance

Shares of SLB traded down $0.85 during trading hours on Tuesday, hitting $39.03. The stock had a trading volume of 2,585,139 shares, compared to its average volume of 11,116,898. The company’s fifty day moving average is $42.62 and its two-hundred day moving average is $43.94. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger has a 52 week low of $38.66 and a 52 week high of $55.69. The stock has a market capitalization of $55.12 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 1.42 and a beta of 1.51.

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

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. ORG Partners LLC increased its stake in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares during the period. Unique Wealth Strategies LLC acquired a new position in shares of Schlumberger in the second quarter valued at approximately $30,000. Prospera Private Wealth LLC acquired a new position in shares of Schlumberger in the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new stake in Schlumberger in the third quarter valued at approximately $37,000. Finally, Cultivar Capital Inc. bought a new stake in Schlumberger in the second quarter valued at approximately $45,000. 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.