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

Schlumberger (NYSE:SLB) had its price objective dropped by investment analysts at BMO Capital Markets from $53.00 to $48.00 in a research report issued on Thursday. BMO Capital Markets’ price target points to a potential upside of 16.96% from the company’s current price.

Several other brokerages have also weighed in on SLB. Wells Fargo & Company lowered their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Bank of America lowered their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Citigroup cut their price target on Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $56.03.

Schlumberger Stock Performance

Shares of NYSE:SLB traded up $0.40 during midday trading on Thursday, hitting $41.04. The stock had a trading volume of 10,476,724 shares, compared to its average volume of 11,610,437. The company has a market capitalization of $57.95 billion, a PE ratio of 13.18, a P/E/G ratio of 1.35 and a beta of 1.52. Schlumberger has a 1 year low of $36.52 and a 1 year high of $55.69. The stock has a 50 day moving average price of $40.95 and a two-hundred day moving average price of $42.95. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates 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 quarter last year, the company earned $0.78 earnings per share. Schlumberger’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts predict that Schlumberger will post 3.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SLB. ORG Partners LLC grew its position in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares during the period. Prospera Private Wealth LLC purchased a new stake in shares of Schlumberger during the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new stake in Schlumberger during the 3rd quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. raised its holdings in Schlumberger by 1,068.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 876 shares during the period. Finally, J. Stern & Co. LLP purchased a new position in Schlumberger in the third quarter valued at approximately $47,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.