TD Cowen Issues Positive Forecast for Schlumberger (NYSE:SLB) Stock Price

Schlumberger (NYSE:SLB) had its price target raised by equities researchers at TD Cowen from $53.00 to $55.00 in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm presently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s price objective suggests a potential upside of 26.21% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Stifel Nicolaus cut their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Piper Sandler began 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 reduced their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Finally, BMO Capital Markets lowered their price target on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.25.

Schlumberger Price Performance

NYSE SLB opened at $43.58 on Tuesday. The company has a market capitalization of $61.54 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 3.61 and a beta of 1.52. Schlumberger has a one year low of $36.52 and a one year high of $55.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The stock has a 50-day moving average of $40.84 and a 200 day moving average of $42.81.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9,241,140 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 earnings per share. On average, sell-side analysts forecast that Schlumberger will post 3.29 EPS for the current year.

Insider Activity at Schlumberger

In other 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 value of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

A number of large investors have recently modified their holdings of SLB. ORG Partners LLC raised its stake in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Schlumberger during the third quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new stake in Schlumberger during the third quarter worth $37,000. DiNuzzo Private Wealth Inc. boosted its position in shares of Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after buying an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in shares of Schlumberger in the third quarter valued at approximately $47,000. 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.