Barclays Lowers Schlumberger (NYSE:SLB) Price Target to $53.00

Schlumberger (NYSE:SLB) had its target price dropped by investment analysts at Barclays from $54.00 to $53.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price target would indicate a potential upside of 25.85% from the stock’s current price.

Several other research firms also recently weighed in on SLB. TD Cowen raised their price target on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Jefferies Financial Group decreased their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, March 27th. Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, Wells Fargo & Company reduced their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and an average price target of $55.69.

Schlumberger Trading Up 0.8 %

Shares of SLB stock opened at $42.11 on Monday. The stock has a market cap of $57.27 billion, a P/E ratio of 13.54, a P/E/G ratio of 10.10 and a beta of 1.47. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. Schlumberger has a fifty-two week low of $36.52 and a fifty-two week high of $55.65. The business has a fifty day simple moving average of $41.22 and a 200-day simple moving average of $41.50.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $0.86 EPS. On average, analysts forecast that Schlumberger will post 3.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the sale, the insider now owns 31,031 shares of the company’s stock, valued at $1,311,990.68. The trade was a 44.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the transaction, the insider now owns 30,829 shares in the company, valued at $1,245,799.89. This represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 315,905 shares of company stock valued at $13,609,283. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

A number of hedge funds have recently bought and sold shares of the business. Townsquare Capital LLC increased its stake in shares of Schlumberger by 25.2% in the third quarter. Townsquare Capital LLC now owns 37,094 shares of the oil and gas company’s stock worth $1,556,000 after buying an additional 7,464 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Schlumberger by 92.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 414,618 shares of the oil and gas company’s stock valued at $17,406,000 after purchasing an additional 199,047 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Schlumberger by 20.3% during the third quarter. Captrust Financial Advisors now owns 136,291 shares of the oil and gas company’s stock worth $5,717,000 after purchasing an additional 23,005 shares during the last quarter. Erste Asset Management GmbH acquired a new position in Schlumberger in the third quarter worth about $1,619,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Schlumberger in the third quarter valued at about $645,000. Institutional investors and hedge funds 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.