Schlumberger (NYSE:SLB) PT Lowered to $62.00

Schlumberger (NYSE:SLB) had its price target dropped by research analysts at Citigroup from $65.00 to $62.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Citigroup’s target price would indicate a potential upside of 31.41% from the stock’s previous close.

A number of other research analysts also recently weighed in on the company. Benchmark reissued a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Tuesday, June 25th. The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Barclays reduced their target price on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. TD Cowen dropped their price target on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, Morgan Stanley restated an “overweight” rating and issued a $65.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.59.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $47.18 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The firm has a market cap of $67.44 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 0.90 and a beta of 1.57. The business has a 50-day simple moving average of $46.69 and a two-hundred day simple moving average of $49.61. Schlumberger has a fifty-two week low of $42.61 and a fifty-two week high of $62.12.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 earnings per share. On average, analysts expect that Schlumberger will post 3.51 earnings per share for the current year.

Insider Activity

In related news, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the sale, the chief technology officer now directly owns 33,421 shares in the company, valued at $1,612,897.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Gavin Rennick sold 38,083 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total value of $1,838,647.24. Following the sale, the insider now directly owns 45,851 shares in the company, valued at approximately $2,213,686.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the sale, the chief technology officer now owns 33,421 shares in the company, valued at $1,612,897.46. The disclosure for this sale can be found here. Insiders sold a total of 106,158 shares of company stock worth $5,099,893 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in 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 valued at $7,352,771,000 after buying an additional 1,868,688 shares during the period. Capital World Investors raised its stake in shares of Schlumberger by 72.3% in the first 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 acquiring an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 worth $4,712,897,000 after acquiring an additional 10,606,191 shares during the last quarter. Norges Bank purchased a new position in shares of Schlumberger during the 4th quarter worth about $1,000,292,000. Finally, Morgan Stanley grew its holdings in Schlumberger by 1.9% during the 3rd quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock valued at $920,561,000 after purchasing an additional 292,817 shares during the last quarter. 81.99% of the stock is owned by 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.