Evercore ISI Lowers Schlumberger (NYSE:SLB) Price Target to $62.00

Schlumberger (NYSE:SLB) had its price objective cut by investment analysts at Evercore ISI from $74.00 to $62.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the oil and gas company’s stock. Evercore ISI’s price target points to a potential upside of 47.85% from the company’s current price.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company reduced their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Stifel Nicolaus reissued a “buy” rating and set a $60.00 price target (down from $62.00) on shares of Schlumberger in a report on Monday. Susquehanna lowered their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday. UBS Group cut their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Citigroup lowered their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.58.

Schlumberger Stock Performance

NYSE:SLB opened at $41.94 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The stock has a 50-day simple moving average of $43.03 and a two-hundred day simple moving average of $45.78. The firm has a market capitalization of $59.54 billion, a PE ratio of 13.48, a P/E/G ratio of 1.27 and a beta of 1.51. Schlumberger has a 52-week low of $38.66 and a 52-week high of $59.05.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 EPS. Analysts forecast that Schlumberger will post 3.44 EPS for the current year.

Institutional Trading of Schlumberger

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Schlumberger by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock valued at $7,352,771,000 after buying an additional 1,868,688 shares during the period. Capital World Investors raised its stake in shares of Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after acquiring an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after acquiring an additional 10,606,191 shares during the period. Legal & General Group Plc lifted its holdings in shares of Schlumberger by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after acquiring an additional 1,560,684 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after purchasing an additional 3,069,395 shares during the period. 81.99% of the stock is currently owned by institutional investors.

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.