Citigroup Boosts Schlumberger (NYSE:SLB) Price Target to $54.00

Schlumberger (NYSE:SLB) had its price target raised by stock analysts at Citigroup from $50.00 to $54.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Citigroup’s price target suggests a potential upside of 24.34% from the stock’s current price.

A number of other analysts have also weighed in on SLB. Evercore ISI restated an “in-line” rating and set a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Wells Fargo & Company dropped their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Piper Sandler began coverage on Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday. Finally, Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Stock Down 0.3 %

Shares of SLB stock traded down $0.15 during trading hours on Tuesday, hitting $43.43. 15,500,498 shares of the company’s stock traded hands, compared to its average volume of 13,940,633. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The stock’s fifty day simple moving average is $40.84 and its two-hundred day simple moving average is $42.81. Schlumberger has a 12-month low of $36.52 and a 12-month high of $55.69. The stock has a market cap of $61.33 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 3.61 and a beta of 1.52.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts expect that Schlumberger will post 3.29 EPS for the current year.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following 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 ownership of the stock. 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 corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SLB. Grove Bank & Trust increased its stake in shares of Schlumberger by 17.4% during the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after buying an additional 224 shares during the period. M&R Capital Management Inc. boosted its position in Schlumberger by 1.7% during the third quarter. M&R Capital Management Inc. now owns 14,817 shares of the oil and gas company’s stock valued at $622,000 after purchasing an additional 241 shares in the last quarter. CX Institutional raised its holdings in Schlumberger by 2.4% in the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock worth $398,000 after purchasing an additional 244 shares in the last quarter. GM Advisory Group LLC lifted its position in Schlumberger by 3.8% during the third quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock valued at $281,000 after acquiring an additional 247 shares during the last quarter. Finally, Cordatus Wealth Management LLC boosted its stake in Schlumberger by 2.1% in the third quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock valued at $561,000 after acquiring an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.