Schlumberger (NYSE:SLB) Price Target Lowered to $56.00 at Susquehanna

by · The Markets Daily

Schlumberger (NYSE:SLB – Get Free Report) had its target price decreased by stock analysts at Susquehanna from $60.00 to $56.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price objective indicates a potential upside of 32.61% from the stock’s previous close.

SLB has been the topic of a number of other reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Evercore ISI lifted their price target on shares of Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. TD Cowen decreased their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday. Morgan Stanley dropped their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. decreased their target price on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.81.

Read Our Latest Analysis on Schlumberger

Schlumberger Price Performance

Shares of SLB stock opened at $42.23 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Schlumberger has a 12 month low of $38.66 and a 12 month high of $59.05. The firm has a market cap of $60.36 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 0.96 and a beta of 1.51. The stock has a 50-day moving average price of $43.10 and a 200 day moving average price of $45.95.

Schlumberger (NYSE:SLB – Get Free Report) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the prior year, the business posted $0.78 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Research analysts expect that Schlumberger will post 3.46 EPS for the current year.

Hedge Funds Weigh In On Schlumberger

A number of hedge funds and other institutional investors have recently bought and sold shares of SLB. Crescent Grove Advisors LLC acquired a new stake in shares of Schlumberger in the second quarter valued at approximately $257,000. National Bank of Canada FI boosted its position in Schlumberger by 15.0% during the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after purchasing an additional 51,637 shares during the period. Mission Wealth Management LP acquired a new position in shares of Schlumberger in the first quarter valued at $245,000. Public Sector Pension Investment Board raised its position in shares of Schlumberger by 0.6% in the second 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 during the period. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Schlumberger by 9.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after buying an additional 64,974 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

About Schlumberger

(Get Free Report)

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.

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