TD Cowen Has Lowered Expectations for Schlumberger (NYSE:SLB) Stock Price

Schlumberger (NYSE:SLB) had its price target lowered by stock analysts at TD Cowen from $65.00 to $53.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s price objective would suggest a potential upside of 36.70% from the stock’s current price.

Several other research analysts also recently commented on SLB. Barclays dropped their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Citigroup dropped their price objective on Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Bank of America decreased their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, Jefferies Financial Group reduced their price objective on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.58.

Schlumberger Price Performance

NYSE SLB opened at $38.77 on Wednesday. Schlumberger has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The stock’s 50-day moving average is $41.00 and its two-hundred day moving average is $43.16. The firm has a market cap of $54.75 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data 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 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same period last year, the business earned $0.78 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, analysts anticipate that Schlumberger will post 3.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Schlumberger

Hedge funds have recently made changes to their positions in the company. ORG Partners LLC grew its stake in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after buying an additional 484 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in Schlumberger during the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new stake in Schlumberger in the 3rd quarter valued at about $37,000. DiNuzzo Private Wealth Inc. raised its stake in shares of Schlumberger by 1,068.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new position in shares of Schlumberger during the third quarter worth approximately $47,000. Institutional investors and hedge funds 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.