Citigroup Cuts Schlumberger (NYSE:SLB) Price Target to $53.00

Schlumberger (NYSE:SLB) had its target price cut by stock analysts at Citigroup from $54.00 to $53.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Citigroup’s price objective indicates a potential upside of 29.66% from the stock’s current price.

Other equities analysts have also issued reports about the company. BMO Capital Markets reduced their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $60.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Dbs Bank initiated coverage on Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus target price of $60.91.

Schlumberger Stock Down 0.7 %

SLB opened at $40.88 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The stock has a market capitalization of $57.72 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 1.45 and a beta of 1.51. The business has a 50-day moving average of $43.01 and a two-hundred day moving average of $44.13. Schlumberger has a 12 month low of $38.66 and a 12 month high of $55.69.

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

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Schlumberger

A number of institutional investors have recently made changes to their positions in the company. Financial Advocates Investment Management increased its holdings in shares of Schlumberger by 3.4% in the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 218 shares during the last quarter. Chilton Capital Management LLC increased its holdings in shares of Schlumberger by 0.8% in the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after acquiring an additional 219 shares during the last quarter. Grove Bank & Trust increased its holdings in shares of Schlumberger by 17.4% in the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after acquiring an additional 224 shares during the last quarter. First PREMIER Bank increased its holdings in shares of Schlumberger by 8.7% in the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 227 shares during the last quarter. Finally, Addison Advisors LLC increased its holdings in shares of Schlumberger by 6.5% in the 2nd quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock valued at $179,000 after acquiring an additional 233 shares during the last quarter. 81.99% of the stock is currently 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.