Schlumberger (NYSE:SLB) Given New $54.00 Price Target at Citigroup

Schlumberger (NYSE:SLB) had its target price dropped by investment analysts at Citigroup from $60.00 to $54.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Citigroup’s price target would indicate a potential upside of 28.17% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. Benchmark restated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. JPMorgan Chase & Co. dropped their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Susquehanna reduced their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday. BMO Capital Markets dropped their price target on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Barclays reduced their price objective on Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $61.58.

Schlumberger Stock Down 0.7 %

Shares of Schlumberger stock traded down $0.30 during trading hours on Tuesday, reaching $42.13. 4,832,874 shares of the company were exchanged, compared to its average volume of 11,074,021. The firm has a market cap of $59.82 billion, a PE ratio of 13.54, a PEG ratio of 1.27 and a beta of 1.51. The stock’s fifty day moving average is $43.07 and its 200 day moving average is $45.87. Schlumberger has a 1 year low of $38.66 and a 1 year high of $59.05. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 earnings per share. As a group, equities research analysts forecast that Schlumberger will post 3.44 earnings per share for the current year.

Institutional Investors Weigh In On Schlumberger

Several institutional investors have recently made changes to their positions in the stock. Crescent Grove Advisors LLC purchased a new stake in Schlumberger during the second quarter worth about $257,000. National Bank of Canada FI boosted its stake in shares of Schlumberger by 15.0% during the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after acquiring an additional 51,637 shares in the last quarter. Mission Wealth Management LP acquired a new stake in shares of Schlumberger in the 1st quarter worth approximately $245,000. Public Sector Pension Investment Board increased its stake in Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after purchasing an additional 11,813 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Schlumberger by 9.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after purchasing an additional 64,974 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other 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.