Stifel Nicolaus Issues Pessimistic Forecast for Schlumberger (NYSE:SLB) Stock Price

Schlumberger (NYSE:SLB) had its price objective reduced by equities researchers at Stifel Nicolaus from $60.00 to $59.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 60.20% from the company’s previous close.

A number of other equities research analysts have also issued reports on SLB. Citigroup cut their price target on shares of Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.79.

Schlumberger Stock Down 0.2 %

Shares of NYSE:SLB opened at $36.83 on Monday. The stock has a market capitalization of $52.01 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 1.42 and a beta of 1.51. The stock’s 50-day moving average price is $42.06 and its 200-day moving average price is $43.75. 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 has a 12-month low of $36.52 and a 12-month high of $55.69.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. On average, equities analysts anticipate that Schlumberger will post 3.39 earnings per share for the current year.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Several institutional investors have recently bought and sold shares of the company. ORG Partners LLC lifted its stake in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after buying an additional 484 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Schlumberger in the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new position in Schlumberger in the 3rd quarter valued at approximately $37,000. DiNuzzo Private Wealth Inc. boosted its stake in Schlumberger by 1,068.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP bought a new stake in shares of Schlumberger in the 3rd quarter worth $47,000. 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.