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

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

A number of other research firms have also recently commented on SLB. UBS Group upped their target price on Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Stifel Nicolaus cut their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. JPMorgan Chase & Co. cut their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Monday, June 30th. Wells Fargo & Company cut their target price on Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research note on Thursday, June 5th. Finally, Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Schlumberger presently has an average rating of "Moderate Buy" and a consensus price target of $50.79.

Schlumberger Trading Up 1.9%

NYSE SLB traded up $0.70 during trading hours on Thursday, hitting $37.35. 11,333,547 shares of the company were exchanged, compared to its average volume of 13,896,116. The stock has a 50-day moving average price of $34.77 and a 200 day moving average price of $37.64. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51. Schlumberger has a 52 week low of $31.11 and a 52 week high of $50.94. The stock has a market cap of $50.80 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 9.93 and a beta of 1.01.

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 return on equity of 21.76% and a net margin of 11.62%. The company 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 firm earned $0.75 earnings per share. The company's revenue was down 2.5% compared to the same quarter last year. Analysts forecast that Schlumberger will post 3.38 earnings per share for the current fiscal year.

Insider Activity

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction 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 completion of the sale, the director owned 23,525 shares in the company, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company's stock.

Institutional Trading of Schlumberger

A number of hedge funds have recently bought and sold shares of the stock. Vident Advisory LLC lifted its holdings in Schlumberger by 1.0% during the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock worth $1,067,000 after buying an additional 273 shares during the period. Glen Eagle Advisors LLC lifted its holdings in Schlumberger by 3.7% during the fourth quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock worth $301,000 after buying an additional 282 shares during the period. EntryPoint Capital LLC lifted its holdings in Schlumberger by 4.5% during the first quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company's stock worth $307,000 after buying an additional 316 shares during the period. Heritage Wealth Management Inc. Texas lifted its holdings in Schlumberger by 2.2% during the first quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock worth $616,000 after buying an additional 318 shares during the period. Finally, Wahed Invest LLC lifted its holdings in Schlumberger by 0.9% during the fourth quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company's stock worth $1,343,000 after buying an additional 319 shares during the period. Hedge funds and other institutional investors 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.