Schlumberger (NYSE:SLB) Price Target Cut to $53.00 by Analysts at Barclays

Schlumberger (NYSE:SLB) had its price objective decreased by research analysts at Barclays from $54.00 to $53.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price target points to a potential upside of 26.21% from the stock’s current price.

Other equities analysts also recently issued reports about the company. BMO Capital Markets cut their target price on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. Stifel Nicolaus decreased their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, Wells Fargo & Company decreased their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and an average target price of $55.69.

Schlumberger Stock Up 0.3 %

NYSE SLB traded up $0.12 on Monday, hitting $42.00. 2,413,077 shares of the stock were exchanged, compared to its average volume of 12,150,140. Schlumberger has a fifty-two week low of $36.52 and a fifty-two week high of $55.65. The company has a 50-day moving average price of $41.29 and a 200-day moving average price of $41.47. The company has a market cap of $57.11 billion, a PE ratio of 13.52, a PEG 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 (NYSE:SLB) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 earnings per share. Sell-side analysts anticipate that Schlumberger will post 3.38 EPS for the current fiscal year.

Insider Buying and Selling at Schlumberger

In related news, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the sale, the insider now directly owns 235,024 shares of the company’s stock, valued at $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the transaction, the director now owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock valued at $12,546,660 in the last quarter. Company 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 stock. YANKCOM Partnership acquired a new stake in Schlumberger during the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $32,000. Golden State Wealth Management LLC acquired a new position in shares of Schlumberger during the fourth quarter worth $34,000. Hager Investment Management Services LLC acquired a new position in shares of Schlumberger in the 4th quarter worth approximately $38,000. Finally, True Wealth Design LLC raised its position in shares of Schlumberger by 584.7% in the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 842 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

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.