Barclays Trims Schlumberger (NYSE:SLB) Target Price to $63.00

Schlumberger (NYSE:SLB) had its price objective dropped by equities research analysts at Barclays from $67.00 to $63.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price objective points to a potential upside of 44.50% from the stock’s current price.

A number of other analysts also recently issued reports on the company. 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 research report on Monday. Susquehanna decreased their target price on shares of Schlumberger from $70.00 to $60.00 and set a “positive” rating for the company in a research note on Friday, October 11th. TD Cowen lifted their price target on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Wells Fargo & Company decreased their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Finally, Piper Sandler dropped their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $62.97.

Schlumberger Trading Up 1.5 %

Shares of SLB traded up $0.65 during trading hours on Wednesday, reaching $43.60. The stock had a trading volume of 5,997,413 shares, compared to its average volume of 11,009,481. The company has a market cap of $61.91 billion, a P/E ratio of 14.24, a P/E/G ratio of 0.96 and a beta of 1.51. Schlumberger has a 52 week low of $38.66 and a 52 week high of $61.20. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average of $43.11 and a 200 day moving average of $46.20.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. On average, sell-side analysts expect that Schlumberger will post 3.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The trade was a 0.00 % 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. In other news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the transaction, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the transaction, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 180,716 shares of company stock worth $9,048,624 in the last ninety days. 0.26% of the stock is owned by insiders.

Institutional Trading of Schlumberger

A number of institutional investors and hedge funds have recently bought and sold shares of SLB. Register Financial Advisors LLC acquired a new position in shares of Schlumberger in the 1st quarter worth approximately $27,000. Manchester Capital Management LLC grew its holdings in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares during the period. Bruce G. Allen Investments LLC raised its position in shares of Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares in the last quarter. ORG Partners LLC lifted its stake 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 valued at $25,000 after purchasing an additional 484 shares during the period. Finally, Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger during the 2nd quarter valued at about $30,000. 81.99% of the stock is currently 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.