Jefferies Financial Group Cuts Schlumberger (NYSE:SLB) Price Target to $53.00

Schlumberger (NYSE:SLB - Get Free Report) had its price target reduced by investment analysts at Jefferies Financial Group from $54.00 to $53.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the oil and gas company's stock. Jefferies Financial Group's target price indicates a potential upside of 59.59% from the company's previous close.

Several other equities analysts have also weighed in on the company. Susquehanna reduced their price objective on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Monday, April 28th. Stifel Nicolaus dropped their price target on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Morgan Stanley decreased their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Piper Sandler dropped their price objective on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Finally, Wells Fargo & Company decreased their price target on Schlumberger from $46.00 to $43.00 and set an "overweight" rating for the company in a research note on Thursday, June 5th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $52.03.

Schlumberger Price Performance

Shares of SLB opened at $33.21 on Thursday. The firm has a 50-day simple moving average of $34.51 and a 200-day simple moving average of $37.94. Schlumberger has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The company has a market capitalization of $45.17 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 8.68 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24.

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

Insider Activity at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the firm's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the transaction, the insider now directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. This trade represents a 44.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director now owns 23,525 shares in the company, valued at $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Schlumberger

A number of institutional investors have recently made changes to their positions in SLB. First Command Advisory Services Inc. raised its holdings in shares of Schlumberger by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after acquiring an additional 477 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in shares of Schlumberger in the first quarter worth $33,000. Alpine Bank Wealth Management bought a new stake in Schlumberger during the 1st quarter valued at about $34,000. True Wealth Design LLC raised its holdings in Schlumberger by 584.7% in the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock worth $38,000 after acquiring an additional 842 shares during the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of Schlumberger in the first quarter worth $38,000. 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.

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