BMO Capital Markets Lowers Schlumberger (NYSE:SLB) Price Target to $64.00

Schlumberger (NYSE:SLB) had its price objective decreased by equities researchers at BMO Capital Markets from $66.00 to $64.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the oil and gas company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 29.16% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Barclays decreased their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Bank of America cut their price objective on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday. Wells Fargo & Company boosted their price objective on shares of Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. TD Cowen cut their price objective on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a report on Monday. Finally, Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Wednesday, April 3rd. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.67.

Schlumberger Trading Up 0.1 %

SLB opened at $49.55 on Monday. The stock has a market capitalization of $70.73 billion, a P/E ratio of 16.46, a P/E/G ratio of 0.95 and a beta of 1.60. Schlumberger has a 12 month low of $42.73 and a 12 month high of $62.12. The firm’s fifty day simple moving average is $51.68 and its 200 day simple moving average is $52.28. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same period in the previous year, the business earned $0.63 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. As a group, research analysts anticipate that Schlumberger will post 3.51 EPS for the current fiscal year.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the transaction, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the transaction, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders sold a total of 110,768 shares of company stock worth $5,511,037 over the last three months. 0.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Highland Capital Management LLC lifted its position in shares of Schlumberger by 2,494.0% during the fourth quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock valued at $5,278,000 after purchasing an additional 97,516 shares in the last quarter. Guinness Asset Management LTD increased its holdings in Schlumberger by 0.3% during the third quarter. Guinness Asset Management LTD now owns 331,309 shares of the oil and gas company’s stock worth $19,468,000 after buying an additional 965 shares during the last quarter. Nordea Investment Management AB increased its holdings in Schlumberger by 36.4% during the fourth quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock worth $74,080,000 after buying an additional 380,185 shares during the last quarter. Allworth Financial LP increased its holdings in Schlumberger by 3.8% during the third quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock worth $324,000 after buying an additional 206 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in Schlumberger by 6.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock worth $31,726,000 after buying an additional 35,763 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

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.