Schlumberger (NYSE:SLB) Price Target Lowered to $62.00 at Citigroup

Schlumberger (NYSE:SLB) had its price target reduced by stock analysts at Citigroup from $65.00 to $62.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Citigroup’s price target would suggest a potential upside of 31.02% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. HSBC reiterated a “buy” rating and issued a $71.00 price objective on shares of Schlumberger in a research note on Thursday, April 4th. TD Cowen decreased their price objective on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Tuesday. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.59.

Schlumberger Trading Up 0.7 %

NYSE SLB traded up $0.31 during trading on Friday, hitting $47.32. The stock had a trading volume of 6,536,255 shares, compared to its average volume of 11,347,601. The company has a market capitalization of $67.64 billion, a PE ratio of 15.72, a PEG ratio of 0.89 and a beta of 1.57. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average price of $46.82 and a 200 day moving average price of $49.63. Schlumberger has a twelve month low of $42.61 and a twelve month high of $62.12.

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

Insider Buying and Selling

In related news, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the transaction, the chief technology officer now owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the sale, the chief technology officer now owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The disclosure for this sale can be found here. Insiders have sold 106,158 shares of company stock valued at $5,099,893 over the last quarter. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Institutional investors and hedge funds have recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Schlumberger in the fourth quarter valued at $26,000. Register Financial Advisors LLC purchased a new stake in shares of Schlumberger in the first quarter valued at $27,000. Manchester Capital Management LLC lifted its position in Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after buying an additional 426 shares during the period. Transcendent Capital Group LLC purchased a new position in Schlumberger during the fourth quarter worth about $32,000. Finally, Janiczek Wealth Management LLC lifted its position in Schlumberger by 1,180.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after buying an additional 602 shares during the period. 81.99% of the stock is currently owned by hedge funds and other 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.