Susquehanna Has Lowered Expectations for Schlumberger (NYSE:SLB) Stock Price

Schlumberger (NYSE:SLB) had its target price lowered by stock analysts at Susquehanna from $46.00 to $44.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s target price would suggest a potential upside of 22.73% from the company’s current price.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company dropped their target price on shares of Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday, June 5th. Barclays dropped their price objective on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Morgan Stanley decreased their target price on Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Jefferies Financial Group dropped their price target on Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Finally, JPMorgan Chase & Co. cut their price target on Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average target price of $50.85.

Schlumberger Trading Up 1.8%

NYSE SLB opened at $35.85 on Tuesday. The company has a market capitalization of $48.76 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 9.22 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93. Schlumberger has a 12 month low of $31.11 and a 12 month high of $50.94. The company’s fifty day moving average price is $34.50 and its two-hundred day moving average price is $37.72.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The company had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 EPS. As a group, research analysts predict that Schlumberger will post 3.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the transaction, the director directly owned 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in Schlumberger by 478.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock valued at $1,994,674,000 after buying an additional 39,474,501 shares in the last quarter. Norges Bank acquired a new stake in Schlumberger in the 4th quarter valued at about $735,398,000. Price T Rowe Associates Inc. MD boosted its position in shares of Schlumberger by 7.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company’s stock valued at $2,913,312,000 after purchasing an additional 5,225,828 shares in the last quarter. Boston Partners grew its stake in shares of Schlumberger by 27.7% in the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after purchasing an additional 4,300,222 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of Schlumberger by 211.1% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock worth $250,507,000 after purchasing an additional 4,066,500 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

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.