Barclays Lowers Schlumberger (NYSE:SLB) Price Target to $47.00

Schlumberger (NYSE:SLB - Get Free Report) had its price objective cut by Barclays from $48.00 to $47.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the oil and gas company's stock. Barclays's target price indicates a potential upside of 25.84% from the stock's current price.

Several other research firms have also weighed in on SLB. Susquehanna lowered their price objective on Schlumberger from $46.00 to $44.00 and set a "positive" rating on the stock in a research note on Tuesday, July 1st. UBS Group increased their target price on Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Morgan Stanley cut their price objective on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Stifel Nicolaus decreased their price objective on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Finally, Jefferies Financial Group reduced their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.79.

Schlumberger Trading Up 1.9%

Shares of SLB traded up $0.70 during midday trading on Thursday, hitting $37.35. The stock had a trading volume of 11,333,547 shares, compared to its average volume of 13,836,480. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The firm has a market cap of $50.80 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 9.58 and a beta of 1.01. The business has a 50-day simple moving average of $34.72 and a two-hundred day simple moving average of $37.64. Schlumberger has a fifty-two week low of $31.11 and a fifty-two week high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The business had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the previous year, the business posted $0.75 EPS. Schlumberger's revenue was down 2.5% compared to the same quarter last year. As a group, equities analysts forecast that Schlumberger will post 3.38 EPS for the current year.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director owned 23,525 shares of the company's stock, valued at $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by insiders.

Institutional Trading of Schlumberger

Several hedge funds have recently added to or reduced their stakes in SLB. Price T Rowe Associates Inc. MD lifted its position in Schlumberger by 7.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock valued at $2,913,312,000 after purchasing an additional 5,225,828 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Schlumberger by 478.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock valued at $1,994,674,000 after buying an additional 39,474,501 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Schlumberger by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock worth $1,146,195,000 after purchasing an additional 1,377,134 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Schlumberger by 12.2% in the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock worth $1,101,804,000 after acquiring an additional 3,119,543 shares during the period. Finally, First Eagle Investment Management LLC lifted its position in Schlumberger by 1.2% during the fourth quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company's stock valued at $1,067,254,000 after purchasing an additional 343,261 shares in the last quarter. 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.