Morgan Stanley Lowers Schlumberger (NYSE:SLB) Price Target to $60.00

Schlumberger (NYSE:SLB) had its price target reduced by Morgan Stanley from $65.00 to $60.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 44.58% from the stock’s current price.

A number of other brokerages have also recently weighed in on SLB. Benchmark reissued a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Evercore ISI lifted their price objective on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Barclays lowered their target price on Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. Finally, Bank of America cut their price target on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $66.72.

Schlumberger Stock Up 2.7 %

NYSE:SLB opened at $41.50 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Schlumberger has a 12-month low of $38.66 and a 12-month high of $61.78. The stock’s fifty day simple moving average is $44.71 and its 200-day simple moving average is $47.52. The firm has a market capitalization of $59.32 billion, a P/E ratio of 13.79, a P/E/G ratio of 0.85 and a beta of 1.52.

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

Insider Buying and Selling

In other news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger 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 sale, 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. Over the last three months, insiders have sold 180,716 shares of company stock worth $9,048,624. Insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Institutional investors have recently bought and sold shares of the business. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger during the 1st quarter worth $27,000. Bruce G. Allen Investments LLC increased its holdings in Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 392 shares during the period. Unique Wealth Strategies LLC acquired a new position in shares of Schlumberger in the 2nd quarter valued at approximately $30,000. Manchester Capital Management LLC boosted its position in shares of Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares in the last quarter. Finally, Riverview Trust Co increased its stake in Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 308 shares during the last quarter. 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.