Stifel Nicolaus Cuts Schlumberger (NYSE:SLB) Price Target to $58.00

Schlumberger (NYSE:SLB) had its target price dropped by analysts at Stifel Nicolaus from $59.00 to $58.00 in a note issued to investors on Tuesday,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 69.91% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Evercore ISI restated an “in-line” rating and issued a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Royal Bank of Canada restated an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. Wells Fargo & Company upgraded shares of Schlumberger from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $46.00 to $44.00 in a research report on Tuesday, April 8th. Jefferies Financial Group decreased their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Finally, Citigroup upped their target price on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Five 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.15.

Schlumberger Stock Performance

Shares of SLB traded up $0.22 on Tuesday, reaching $34.14. The company’s stock had a trading volume of 3,350,094 shares, compared to its average volume of 17,398,547. The stock’s 50 day simple moving average is $39.85 and its two-hundred day simple moving average is $40.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The stock has a market capitalization of $46.42 billion, a P/E ratio of 10.98, a PEG ratio of 10.10 and a beta of 1.11. Schlumberger has a 12-month low of $31.11 and a 12-month high of $51.96.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 EPS. Research analysts forecast that Schlumberger will post 3.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, 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 value of $1,098,500.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the transaction, the insider now directly owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 315,905 shares of company stock valued at $13,609,283 over the last ninety days. 0.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Norges Bank bought a new position in Schlumberger in the 4th quarter valued at $735,398,000. Pacer Advisors Inc. boosted its stake in shares of Schlumberger by 12,289.6% during the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after purchasing an additional 12,938,082 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Schlumberger by 7.4% in the fourth 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 purchasing an additional 5,225,828 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in Schlumberger by 3,112.1% during the 4th quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company’s stock valued at $139,059,000 after buying an additional 3,514,134 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in Schlumberger by 12.2% in the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company’s stock valued at $1,101,804,000 after buying an additional 3,119,543 shares during the period. 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.