Susquehanna Trims Schlumberger (NYSE:SLB) Target Price to $56.00

Schlumberger (NYSE:SLB) had its price target reduced by equities research analysts at Susquehanna from $60.00 to $56.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s target price would suggest a potential upside of 32.61% from the stock’s previous close.

A number of other research firms have also commented on SLB. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research note on Thursday, October 3rd. Benchmark reaffirmed a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Morgan Stanley reduced their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Evercore ISI boosted their target price on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Finally, Bank of America reduced their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.81.

Schlumberger Stock Up 0.7 %

SLB stock opened at $42.23 on Monday. The business’s fifty day moving average price is $43.10 and its two-hundred day moving average price is $45.95. The stock has a market capitalization of $60.36 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 0.96 and a beta of 1.51. Schlumberger has a fifty-two week low of $38.66 and a fifty-two week high of $59.05. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the previous year, the company earned $0.78 EPS. The business’s revenue was up 10.2% on a year-over-year basis. On average, equities analysts anticipate that Schlumberger will post 3.46 earnings per share for the current year.

Institutional Investors Weigh In On Schlumberger

Several institutional investors and hedge funds have recently made changes to their positions in SLB. Capital World Investors boosted its holdings in Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after acquiring an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after purchasing an additional 10,606,191 shares during the last quarter. Boston Partners increased its position in shares of Schlumberger by 35.8% during the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after buying an additional 3,069,395 shares during the period. Ceredex Value Advisors LLC acquired a new stake in shares of Schlumberger during the second quarter worth $92,944,000. Finally, 1832 Asset Management L.P. acquired a new position in Schlumberger in the second quarter valued at $91,364,000. Institutional investors and hedge funds 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.