Schlumberger (NYSE:SLB) had its price objective cut by equities research analysts at Wells Fargo & Co from $48.00 to $44.00 in a report issued on Thursday, BenzingaRatingsTable reports. The firm presently has an “outperform” rating on the oil and gas company’s stock. Wells Fargo & Co‘s price target suggests a potential upside of 22.91% from the stock’s current price.
A number of other equities research analysts have also recently weighed in on SLB. Raymond James reissued a “hold” rating on shares of Schlumberger in a research report on Friday, June 21st. AltaCorp Capital reaffirmed an “outperform” rating on shares of Schlumberger in a report on Thursday, June 20th. Gabelli initiated coverage on shares of Schlumberger in a report on Thursday, June 27th. They issued a “buy” rating and a $55.00 target price for the company. Stifel Nicolaus raised shares of Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Friday, June 7th. Finally, Royal Bank of Canada reduced their target price on shares of Schlumberger to $51.00 and set an “outperform” rating for the company in a report on Wednesday, May 15th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. Schlumberger presently has an average rating of “Hold” and an average price target of $51.05.
Shares of SLB stock traded down $1.52 on Thursday, reaching $35.80. 4,757,099 shares of the stock were exchanged, compared to its average volume of 10,410,823. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average price is $34.94 and its 200 day moving average price is $39.43. The company has a market capitalization of $50.11 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 2.54 and a beta of 1.49. Schlumberger has a twelve month low of $31.03 and a twelve month high of $63.65.
Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The firm had revenue of $8.27 billion during the quarter, compared to analysts’ expectations of $8.11 billion. During the same period in the previous year, the company earned $0.43 earnings per share. Schlumberger’s quarterly revenue was down .4% compared to the same quarter last year. Equities research analysts forecast that Schlumberger will post 1.51 earnings per share for the current year.
In other news, insider Stephanie Cox sold 24,057 shares of Schlumberger stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $40.59, for a total value of $976,473.63. Following the completion of the transaction, the insider now directly owns 46,354 shares of the company’s stock, valued at approximately $1,881,508.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick Schorn sold 12,151 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $38.93, for a total transaction of $473,038.43. Following the completion of the transaction, the executive vice president now directly owns 130,000 shares of the company’s stock, valued at $5,060,900. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Quad Cities Investment Group LLC bought a new stake in Schlumberger in the 2nd quarter valued at about $32,000. Mizuho Securities Co. Ltd. bought a new stake in Schlumberger in the 2nd quarter valued at about $32,000. Doyle Wealth Management bought a new stake in Schlumberger in the 2nd quarter valued at about $33,000. Lenox Wealth Management Inc. lifted its position in Schlumberger by 41.1% in the 1st quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 256 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new stake in Schlumberger in the 1st quarter valued at about $38,000. 76.94% of the stock is owned by institutional investors and hedge funds.
Schlumberger Company Profile
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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