JPMorgan Chase & Co. Issues Pessimistic Forecast for Schlumberger (NYSE:SLB) Stock Price

Schlumberger (NYSE:SLB) had its target price reduced by JPMorgan Chase & Co. from $55.00 to $48.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 25.20% from the stock’s previous close.

Several other research analysts have also weighed in on SLB. Stifel Nicolaus lowered their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Piper Sandler assumed coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Barclays decreased their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Citigroup decreased their target price on Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, TD Cowen dropped their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $58.09.

Schlumberger Stock Up 1.4 %

Shares of SLB opened at $38.34 on Thursday. The stock has a 50 day moving average price of $41.24 and a 200 day moving average price of $43.40. 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 stock has a market capitalization of $54.14 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.42 and a beta of 1.51. Schlumberger has a one year low of $36.52 and a one year high of $55.69.

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

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

A number of large investors have recently bought and sold shares of SLB. Principal Financial Group Inc. boosted its holdings in Schlumberger by 8.0% in the third quarter. Principal Financial Group Inc. now owns 4,487,067 shares of the oil and gas company’s stock valued at $188,232,000 after acquiring an additional 332,500 shares during the last quarter. Syntax Research Inc. acquired a new stake in Schlumberger during the 3rd quarter worth approximately $3,491,000. Copley Financial Group Inc. purchased a new stake in Schlumberger during the third quarter worth approximately $515,000. Peapack Gladstone Financial Corp increased its position in shares of Schlumberger by 15.0% in the third quarter. Peapack Gladstone Financial Corp now owns 268,008 shares of the oil and gas company’s stock worth $11,244,000 after acquiring an additional 34,861 shares in the last quarter. Finally, Synovus Financial Corp boosted its position in Schlumberger by 30.2% during the 3rd quarter. Synovus Financial Corp now owns 109,717 shares of the oil and gas company’s stock worth $4,603,000 after purchasing an additional 25,465 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.