Schlumberger (NYSE:SLB) Given New $59.00 Price Target at Stifel Nicolaus

Schlumberger (NYSE:SLB) had its price target cut by stock analysts at Stifel Nicolaus from $60.00 to $59.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 56.37% from the company’s previous close.

Several other research firms also recently commented on SLB. Bank of America dropped their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. BMO Capital Markets cut their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, October 10th. TD Cowen decreased their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Wells Fargo & Company dropped their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Finally, Evercore ISI reduced their price objective on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and a consensus price target of $58.79.

Schlumberger Trading Up 1.3 %

Shares of SLB opened at $37.73 on Monday. The business’s fifty day moving average is $41.92 and its 200-day moving average is $43.71. The firm has a market cap of $53.28 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 1.42 and a beta of 1.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger has a 52-week low of $36.52 and a 52-week high of $55.69.

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

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value 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. The trade was a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Schlumberger

A number of large investors have recently added to or reduced their stakes in the stock. ORG Partners LLC raised its stake in Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger in the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Schlumberger during the 3rd quarter valued at approximately $37,000. DiNuzzo Private Wealth Inc. lifted its stake in shares of 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 buying an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP bought a new position in Schlumberger in the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

About Schlumberger

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.