Jefferies Financial Group Lowers Schlumberger (NYSE:SLB) Price Target to $59.00

Schlumberger (NYSE:SLB) had its target price cut by equities research analysts at Jefferies Financial Group from $60.00 to $59.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 40.93% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. TD Cowen upped their price target on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. BMO Capital Markets reduced their price target on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Finally, Stifel Nicolaus lowered their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.69.

Schlumberger Stock Performance

Shares of NYSE:SLB opened at $41.87 on Thursday. The company has a market capitalization of $56.93 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 10.10 and a beta of 1.47. The firm’s 50 day simple moving average is $41.29 and its 200 day simple moving average is $41.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger has a fifty-two week low of $36.52 and a fifty-two week high of $55.65.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 EPS. As a group, sell-side analysts forecast that Schlumberger will post 3.38 earnings per share for the current year.

Insider Activity

In other Schlumberger news, EVP Mogharbel Khaled Al sold 123,097 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the sale, the executive vice president now owns 184,626 shares of the company’s stock, valued at approximately $8,140,160.34. This trade represents a 40.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the transaction, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 290,772 shares of company stock worth $12,546,660. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Schlumberger by 25.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock valued at $31,961,000 after purchasing an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Schlumberger by 27.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after buying an additional 16,350 shares in the last quarter. Bryn Mawr Capital Management LLC lifted its stake in shares of Schlumberger by 502.6% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company’s stock valued at $7,592,000 after acquiring an additional 165,162 shares during the last quarter. Narwhal Capital Management boosted its holdings in shares of Schlumberger by 225.5% during the 4th quarter. Narwhal Capital Management now owns 74,645 shares of the oil and gas company’s stock valued at $2,862,000 after acquiring an additional 51,715 shares in the last quarter. Finally, Czech National Bank boosted its holdings in shares of Schlumberger by 5.8% during the 4th quarter. Czech National Bank now owns 306,183 shares of the oil and gas company’s stock valued at $11,739,000 after acquiring an additional 16,914 shares in the last quarter. Institutional investors and hedge funds 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.