Schlumberger (NYSE:SLB) PT Lowered to $49.00

Schlumberger (NYSE:SLB) had its target price decreased by equities research analysts at Wells Fargo & Company from $53.00 to $49.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 19.02% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Evercore ISI lifted their target price on shares of Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Barclays lowered their price objective on Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Susquehanna reduced their target price on Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research report on Thursday, July 11th. Bank of America lowered their price target on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a report on Monday, July 15th. Finally, Piper Sandler cut their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.08.

Schlumberger Stock Performance

Schlumberger stock opened at $41.17 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The stock has a fifty day moving average of $44.12 and a two-hundred day moving average of $47.22. The company has a market capitalization of $58.85 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 0.92 and a beta of 1.51. Schlumberger has a fifty-two week low of $38.66 and a fifty-two week high of $61.41.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. Schlumberger’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 earnings per share. On average, analysts anticipate that Schlumberger will post 3.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. The disclosure for this sale can be found here. Insiders sold a total of 180,716 shares of company stock worth $9,048,624 over the last ninety days. 0.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Register Financial Advisors LLC acquired a new position in shares of Schlumberger during the first quarter worth $27,000. Manchester Capital Management LLC raised its holdings in Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in Schlumberger in the fourth quarter valued at $32,000. Finally, Unique Wealth Strategies LLC acquired a new stake in Schlumberger in the second quarter valued at $30,000. 81.99% of the stock is owned by institutional investors and hedge funds.

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.