JPMorgan Chase & Co. Has Lowered Expectations for Schlumberger (NYSE:SLB) Stock Price

Schlumberger (NYSE:SLB) had its target price dropped by equities researchers at JPMorgan Chase & Co. from $55.00 to $48.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 24.38% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on SLB. Susquehanna dropped their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. UBS Group dropped their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Stifel Nicolaus decreased 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. Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, BMO Capital Markets reduced their price target on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $58.25.

Schlumberger Price Performance

Shares of SLB opened at $38.59 on Thursday. The stock has a 50 day simple moving average of $41.19 and a 200 day simple moving average of $43.37. Schlumberger has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The firm has a market capitalization of $54.50 billion, a PE ratio of 12.41, a P/E/G ratio of 1.42 and a beta of 1.51.

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

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Schlumberger

Large investors have recently modified their holdings of the stock. ORG Partners LLC lifted 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 buying an additional 484 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Schlumberger in the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new position in Schlumberger during the 3rd quarter valued at about $37,000. DiNuzzo Private Wealth Inc. boosted its stake in Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP purchased a new stake in Schlumberger in the third quarter worth about $47,000. Institutional investors 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.