Barclays Has Lowered Expectations for Schlumberger (NYSE:SLB) Stock Price

Schlumberger (NYSE:SLB) had its price objective dropped by equities researchers at Barclays from $61.00 to $53.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s target price would indicate a potential upside of 43.59% from the stock’s current price.

A number of other research firms also recently issued reports on SLB. TD Cowen lowered their price target on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. BMO Capital Markets cut their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Bank of America decreased their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.85.

Schlumberger Trading Down 1.1 %

Shares of SLB stock opened at $36.91 on Wednesday. The firm’s 50-day simple moving average is $42.22 and its 200-day simple moving average is $43.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger has a 1-year low of $36.52 and a 1-year high of $55.69. The firm has a market cap of $52.12 billion, a P/E ratio of 11.87, a PEG ratio of 1.42 and a beta of 1.51.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter last year, the firm posted $0.78 earnings per share. Schlumberger’s revenue was up 10.2% on a year-over-year basis. As a group, equities analysts forecast that Schlumberger will post 3.39 EPS for the current year.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SLB. ORG Partners LLC raised its position in shares of Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Schlumberger during the third quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Schlumberger during the third quarter worth $37,000. DiNuzzo Private Wealth Inc. lifted its position in shares of Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after buying an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new position in shares of Schlumberger in the 3rd quarter valued at about $47,000. 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.