Stifel Nicolaus Lowers Schlumberger (NYSE:SLB) Price Target to $52.00

Schlumberger (NYSE:SLB) had its target price reduced by analysts at Stifel Nicolaus from $54.00 to $52.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 49.89% from the company’s previous close.

Several other research firms have also weighed in on SLB. Barclays cut their target price on Schlumberger from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, July 10th. Wells Fargo & Company decreased their price objective on Schlumberger from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday, June 5th. Atb Cap Markets upgraded Schlumberger from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. Jefferies Financial Group decreased their price target on Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. Finally, Morgan Stanley cut their price objective on Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.68.

Schlumberger Stock Up 0.3%

Shares of Schlumberger stock opened at $34.69 on Wednesday. The stock has a 50-day simple moving average of $34.88 and a 200-day simple moving average of $37.56. 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 52-week low of $31.11 and a 52-week high of $50.94. The firm has a market cap of $47.19 billion, a price-to-earnings ratio of 11.76, a P/E/G ratio of 9.25 and a beta of 1.01.

Schlumberger (NYSE:SLB) last released its quarterly earnings data 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). Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The firm had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, equities research analysts expect that Schlumberger will post 3.38 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Schlumberger

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 during the period. Norges Bank acquired a new position in Schlumberger during the 4th quarter worth $735,398,000. Price T Rowe Associates Inc. MD grew its holdings in 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 worth $2,913,312,000 after acquiring an additional 5,225,828 shares in the last quarter. Boston Partners increased its stake in Schlumberger by 27.7% during the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock valued at $824,160,000 after purchasing an additional 4,300,222 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Schlumberger by 211.1% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock valued at $250,507,000 after acquiring an additional 4,066,500 shares during the period. 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.