Schlumberger (NYSE:SLB) Price Target Cut to $49.00

Schlumberger (NYSE:SLB) had its price objective lowered by equities research analysts at Wells Fargo & Company from $53.00 to $49.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 19.02% from the company’s current price.

Other research analysts have also recently issued reports about the company. Citigroup lowered their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Bank of America lowered their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, July 15th. UBS Group lowered their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Finally, Susquehanna lowered their price objective on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $66.08.

Schlumberger Price Performance

Shares of NYSE SLB opened at $41.17 on Wednesday. The stock’s 50-day moving average is $44.12 and its two-hundred day moving average is $47.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. Schlumberger has a 1-year low of $38.66 and a 1-year high of $61.41. The company has a market cap of $58.85 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 0.92 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter in the prior year, the business earned $0.72 EPS. Schlumberger’s revenue was up 12.8% on a year-over-year basis. Analysts forecast that Schlumberger will post 3.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred on 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 directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On Schlumberger

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Schlumberger by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after buying an additional 1,868,688 shares in the last quarter. Capital World Investors increased its stake in Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after purchasing an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after purchasing an additional 10,606,191 shares in the last quarter. Capital International Investors increased its stake in Schlumberger by 0.6% in the 4th quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock valued at $770,122,000 after purchasing an additional 89,483 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Schlumberger by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.