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

Schlumberger (NYSE:SLB) had its price target decreased by equities research analysts at Susquehanna from $60.00 to $56.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price objective points to a potential upside of 33.54% from the company’s previous close.

Several other analysts have also recently commented on the stock. Dbs Bank started coverage on shares of Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target for the company. Barclays decreased their price target on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Stifel Nicolaus decreased their price target on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a report on Friday, October 11th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a report on Thursday, October 3rd. Finally, Wells Fargo & Company decreased their price target on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.58.

Schlumberger Stock Performance

Schlumberger stock opened at $41.94 on Monday. The firm’s 50 day simple moving average is $43.03 and its 200-day simple moving average is $45.78. The company has a market cap of $59.54 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 1.27 and a beta of 1.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. Schlumberger has a fifty-two week low of $38.66 and a fifty-two week high of $59.05.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm’s quarterly 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. As a group, equities research analysts predict that Schlumberger will post 3.44 EPS for the current year.

Institutional Trading of Schlumberger

A number of institutional investors and hedge funds have recently modified their holdings of SLB. &PARTNERS bought a new position in shares of Schlumberger during the 1st quarter worth about $265,000. Strategic Planning Group LLC raised its holdings in shares of Schlumberger by 20.1% in the 1st quarter. Strategic Planning Group LLC now owns 11,481 shares of the oil and gas company’s stock worth $629,000 after buying an additional 1,921 shares in the last quarter. Community Bank of Raymore acquired a new stake in Schlumberger in the 1st quarter valued at $243,000. First Financial Corp IN grew its position in Schlumberger by 14.2% in the first quarter. First Financial Corp IN now owns 3,105 shares of the oil and gas company’s stock valued at $170,000 after acquiring an additional 387 shares during the period. Finally, Kingswood Wealth Advisors LLC raised its stake in Schlumberger by 5.6% during the first quarter. Kingswood Wealth Advisors LLC now owns 13,944 shares of the oil and gas company’s stock worth $764,000 after acquiring an additional 745 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.