Piper Sandler Issues Pessimistic Forecast for Schlumberger (NYSE:SLB) Stock Price

Schlumberger (NYSE:SLB) had its price objective dropped by stock analysts at Piper Sandler from $44.00 to $42.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Piper Sandler’s target price points to a potential upside of 25.86% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Susquehanna cut their price target on Schlumberger from $46.00 to $44.00 and set a “positive” rating on the stock in a research report on Tuesday, July 1st. Atb Cap Markets raised Schlumberger from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 1st. Barclays cut their price target on Schlumberger from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, July 10th. Morgan Stanley cut their price target on Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Finally, Wells Fargo & Company cut their price target on Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, June 5th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $50.56.

Schlumberger Stock Performance

Shares of SLB opened at $33.37 on Friday. Schlumberger has a 12 month low of $31.11 and a 12 month high of $50.52. The stock has a fifty day moving average price of $34.86 and a 200-day moving average price of $37.53. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The firm has a market cap of $45.39 billion, a PE ratio of 11.43, a P/E/G ratio of 8.96 and a beta of 1.01.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The firm had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.51 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. Equities research analysts predict that Schlumberger will post 3.38 earnings per share for the current fiscal year.

Insider Activity at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger 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 sale, the director owned 23,525 shares of the company’s stock, valued at approximately $789,969.50. The trade was a 17.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLB. First Command Advisory Services Inc. grew its stake in shares of Schlumberger by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 477 shares in the last quarter. Atticus Wealth Management LLC acquired a new position in shares of Schlumberger in the second quarter worth $29,000. Atlas Capital Advisors Inc. acquired a new position in shares of Schlumberger in the first quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Schlumberger by 55.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 350 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new position in shares of Schlumberger in the first quarter worth $34,000. 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.