Schlumberger (NYSE:SLB) Price Target Lowered to $54.00 at Citigroup

Schlumberger (NYSE:SLB) had its price objective reduced by research analysts at Citigroup from $60.00 to $54.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Citigroup’s price target would suggest a potential upside of 28.17% from the stock’s previous close.

A number of other analysts have also issued reports on SLB. Stifel Nicolaus reissued a “buy” rating and issued a $60.00 price target (down from $62.00) on shares of Schlumberger in a research note on Monday. Susquehanna decreased their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday. Bank of America dropped their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Finally, Dbs Bank started coverage on Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective for the company. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.58.

Schlumberger Trading Down 0.7 %

Shares of NYSE:SLB traded down $0.30 during trading on Tuesday, reaching $42.13. The stock had a trading volume of 4,832,874 shares, compared to its average volume of 11,074,021. Schlumberger has a fifty-two week low of $38.66 and a fifty-two week high of $59.05. The business has a fifty day moving average price of $43.07 and a 200-day moving average price of $45.87. The stock has a market cap of $59.82 billion, a P/E ratio of 13.54, a PEG ratio of 1.27 and a beta of 1.51. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same period in the previous year, the firm posted $0.78 EPS. Schlumberger’s revenue was up 10.2% on a year-over-year basis. As a group, analysts anticipate that Schlumberger will post 3.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Schlumberger

A number of large investors have recently added to or reduced their stakes in the company. First Financial Corp IN increased its position in shares of Schlumberger by 14.2% during the first quarter. First Financial Corp IN now owns 3,105 shares of the oil and gas company’s stock worth $170,000 after acquiring an additional 387 shares during the last quarter. Kingswood Wealth Advisors LLC raised its position in shares of Schlumberger by 5.6% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 13,944 shares of the oil and gas company’s stock valued at $764,000 after purchasing an additional 745 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of Schlumberger by 2.2% in the 1st quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock valued at $578,000 after purchasing an additional 230 shares in the last quarter. Brookstone Capital Management purchased a new position in shares of Schlumberger during the 1st quarter valued at approximately $1,758,000. Finally, Wealthcare Advisory Partners LLC increased its stake in shares of Schlumberger by 15.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 7,242 shares of the oil and gas company’s stock worth $397,000 after buying an additional 965 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

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.