Schlumberger (NYSE:SLB) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Schlumberger (NYSE:SLB) had its price target raised by equities researchers at JPMorgan Chase & Co. from $48.00 to $50.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 20.13% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Jefferies Financial Group lowered their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Bank of America reduced their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Six equities 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Stock Down 4.8 %

Shares of Schlumberger stock opened at $41.62 on Tuesday. The company has a 50-day simple moving average of $40.83 and a two-hundred day simple moving average of $42.80. The stock has a market capitalization of $58.78 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 3.61 and a beta of 1.52. Schlumberger has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9,241,140 billion. During the same period in the previous year, the business earned $0.86 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts anticipate that Schlumberger will post 3.29 EPS for the current fiscal year.

Insider Activity

In other news, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the sale, the insider now owns 235,024 shares in the company, valued at $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the transaction, the director now owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 198,258 shares of company stock worth $8,732,604 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Several hedge funds have recently bought and sold shares of SLB. State Street Corp lifted its position in shares of Schlumberger by 0.6% in the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after buying an additional 528,279 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Schlumberger by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock worth $1,195,290,000 after acquiring an additional 239,966 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Schlumberger by 12,289.6% during the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after acquiring an additional 12,938,082 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Schlumberger by 20.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after purchasing an additional 1,916,851 shares in the last quarter. Hedge funds and other institutional investors 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.