Jefferies Financial Group Lowers Schlumberger (NYSE:SLB) Price Target to $61.00

Schlumberger (NYSE:SLB) had its price target decreased by equities research analysts at Jefferies Financial Group from $64.00 to $61.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 58.07% from the stock’s previous close.

Several other brokerages have also recently issued reports on SLB. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Wells Fargo & Company decreased their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. UBS Group dropped their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Evercore ISI cut their target price on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average price target of $58.25.

Schlumberger Stock Up 0.5 %

NYSE:SLB opened at $38.59 on Friday. The company has a market cap of $54.50 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52. Schlumberger has a twelve month low of $36.52 and a twelve month high of $55.69. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $41.12 and a 200-day simple moving average of $43.33.

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

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Modus Advisors LLC purchased a new position in Schlumberger in the fourth quarter valued at $50,000. Versant Capital Management Inc raised its holdings in Schlumberger by 98.9% in the 4th quarter. Versant Capital Management Inc now owns 1,498 shares of the oil and gas company’s stock worth $57,000 after purchasing an additional 745 shares during the period. Principal Financial Group Inc. boosted its position in Schlumberger by 8.0% during the third quarter. Principal Financial Group Inc. now owns 4,487,067 shares of the oil and gas company’s stock worth $188,232,000 after purchasing an additional 332,500 shares in the last quarter. Syntax Research Inc. acquired a new stake in Schlumberger in the third quarter valued at approximately $3,491,000. Finally, Copley Financial Group Inc. purchased a new stake in shares of Schlumberger in the third quarter valued at approximately $515,000. 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.