Schlumberger (NYSE:SLB) Price Target Cut to $42.00 by Analysts at Susquehanna

Schlumberger (NYSE:SLB - Get Free Report) had its target price decreased by equities research analysts at Susquehanna from $44.00 to $42.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "positive" rating on the oil and gas company's stock. Susquehanna's price objective points to a potential upside of 23.68% from the company's previous close.

SLB has been the topic of several other research reports. Morgan Stanley cut their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Stifel Nicolaus cut their target price on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Wells Fargo & Company cut Schlumberger from a "buy" rating to an "equal weight" rating in a research note on Sunday. JPMorgan Chase & Co. decreased their price target on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Finally, Barclays decreased their price target on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $50.38.

Schlumberger Price Performance

NYSE SLB traded up $0.64 during trading on Monday, hitting $33.96. 7,806,045 shares of the stock traded hands, compared to its average volume of 16,658,180. The company has a market capitalization of $46.19 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 8.98 and a beta of 1.01. The firm has a 50-day simple moving average of $34.86 and a 200-day simple moving average of $37.52. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. Schlumberger has a 12-month low of $31.11 and a 12-month high of $50.52.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%. The firm's revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. As a group, analysts predict that Schlumberger will post 3.38 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Schlumberger

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLB. Charles Schwab Investment Management Inc. boosted its holdings 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 worth $1,994,674,000 after buying an additional 39,474,501 shares in the last quarter. Norges Bank acquired a new stake in shares of Schlumberger during the 4th quarter valued at approximately $735,398,000. Price T Rowe Associates Inc. MD lifted its position in shares of Schlumberger by 7.4% during the 4th 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 acquiring an additional 5,225,828 shares during the period. Boston Partners lifted its position in shares of Schlumberger by 27.7% during the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock valued at $824,160,000 after acquiring an additional 4,300,222 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of Schlumberger by 211.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company's stock valued at $250,507,000 after acquiring an additional 4,066,500 shares during the period. 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.

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