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

Schlumberger (NYSE:SLB) had its price objective reduced by investment analysts at Jefferies Financial Group from $64.00 to $61.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 58.94% from the stock’s previous close.

SLB has been the topic of several other research reports. Barclays reduced their price objective on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Susquehanna lowered their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Evercore ISI dropped 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. Finally, BMO Capital Markets decreased their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Five equities research 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.25.

Schlumberger Price Performance

Shares of NYSE SLB traded down $0.02 during midday trading on Friday, reaching $38.38. The company’s stock had a trading volume of 3,495,943 shares, compared to its average volume of 7,407,003. The company has a market cap of $54.20 billion, a P/E ratio of 12.34, a P/E/G ratio of 1.42 and a beta of 1.51. Schlumberger has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The business’s 50 day moving average price is $41.19 and its two-hundred day moving average price is $43.37.

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

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Schlumberger

A number of hedge funds have recently modified their holdings of SLB. ORG Partners LLC boosted its stake in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in Schlumberger in the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new position in Schlumberger in the 3rd quarter worth about $37,000. DiNuzzo Private Wealth Inc. lifted its stake in Schlumberger by 1,068.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 876 shares during the period. Finally, J. Stern & Co. LLP purchased a new stake in shares of Schlumberger during the 3rd quarter valued at about $47,000. 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.